# Rupee Breaches 79 Per Dollar Mark For The First Time Ever

> The rupee breached the 79-per-dollar level for the first time, closing at a record low of 79.03 after six straight record closes. Foreign capital outflows and elevated oil prices weighed on the currency, and the RBI's intervention was seen as ineffective.

- Date: 2022-06-29 · published 2022-06-29T12:00:00.000Z
- Category: macro · region India · magnitude low
- Page: https://feedsoft.ai/events/41216-rupee-breaches-79-per-dollar-mark-for-the-first-time-ever
- Commodities: [Indian Rupee (INR per USD)](https://feedsoft.ai/c/USDINR.md)

## Why it matters

A rupee at record lows raises the cost of crude and other dollar-priced imports for India, which can weigh on Indian import demand. The move reflects dollar strength and oil costs rather than a direct feed supply shock.

## Read by commodity

- USDINR: bullish ▲

## Sources

- ndtvprofit.com: https://www.ndtvprofit.com/business/rupee-closes-at-a-new-record-low-marking-its-sixth-straight-session-of-record-weak-closes-3111054-10094729

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.