# Rupee hits fresh all-time low vs dollar as US rate hike worries deepen | News on Markets - Business Standard

> The rupee slumped to a fresh record low of 78.39 per dollar ahead of Fed Chair Powell's testimony, as the Sensex and Nifty fell. Crude oil dropped about 6% on recession fears and a US push to cut fuel taxes.

- Date: 2022-06-22 · published 2022-06-22T12:00:00.000Z
- Category: macro · region India · magnitude low
- Page: https://feedsoft.ai/events/41217-rupee-hits-fresh-all-time-low-vs-dollar-as-us-rate-hike-worries-deepen-news-on
- Commodities: [Indian Rupee (INR per USD)](https://feedsoft.ai/c/USDINR.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

Risk-off flows into the dollar weaken emerging-market currencies such as the rupee, while lower crude eases India's import bill. Net effect on feed commodity demand from India is modest.

## Read by commodity

- WTI: bearish ▼
- USDINR: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2017-11-29 | [Canadian dollar hits near 4-week low versus firmer US$ - The Business Times](https://feedsoft.ai/events/68198-canadian-dollar-hits-near-4-week-low-versus-firmer-us-the-business-times.md) | -0.6% | +2.9% |
| WTI | 2022-07-05 | [Euro Hits 20-Year Low Against Dollar as Markets Slide - The New York Times](https://feedsoft.ai/events/10287-euro-hits-20-year-low-against-dollar-as-markets-slide-the-new-york-times.md) | -3.9% | -12.8% |
| WTI | 2021-07-15 | [Rupee's wild ride may end as foreign inflows surge: Credit Agricole CIB \| Money & Forex Markets - Business Standard](https://feedsoft.ai/events/46344-rupee-s-wild-ride-may-end-as-foreign-inflows-surge-credit-agricole-cib-money.md) | -3.8% | -5.2% |
| WTI | 2022-11-28 | [C$ hits one-week low as China protests rattle investors - Markets - Business Recorder](https://feedsoft.ai/events/38912-c-hits-one-week-low-as-china-protests-rattle-investors-markets-business-recorder.md) | +4.6% | +4.2% |
| WTI | 2026-06-24 | [U.S. dollar rises to 13-month high on Fed rate hike views](https://feedsoft.ai/events/11992-u-s-dollar-rises-to-13-month-high-on-fed-rate-hike-views.md) | -5.3% | +15.5% |

## Sources

- business-standard.com: https://www.business-standard.com/article/markets/rupee-hits-fresh-all-time-low-vs-dollar-as-us-rate-hike-worries-deepen-122062200875_1.html

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