# Rupee drops 3.5% against dollar in FY22; fares better than global peers | Money & Forex Markets - Business Standard

> The rupee ended FY22 down 3.5% against the dollar, compared with a 3.4% gain the prior year, and outperformed many global peers despite the Fed's rate hikes and higher crude after Russia invaded Ukraine. Forex reserves reached a record high of about $642 billion, cushioning the currency.

- Date: 2022-03-31 · published 2022-03-31T12:00:00.000Z
- Category: macro · region India · magnitude low
- Page: https://feedsoft.ai/events/42544-rupee-drops-3-5-against-dollar-in-fy22-fares-better-than-global-peers-money-and
- Commodities: [Indian Rupee (INR per USD)](https://feedsoft.ai/c/USDINR.md)

## Why it matters

Currency stability with large reserves limits the rupee-cost shock on India's imported feed and oilseed purchases, so the price effect on buyers is modest.

## Read by commodity

- USDINR: neutral

## Sources

- business-standard.com: https://www.business-standard.com/article/finance/rupee-drops-3-5-against-dollar-in-fy22-fares-better-than-global-peers-122040100084_1.html

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