# Rupee sinks to lifetime-low as Ukraine crisis threatens to push India's oil-import bill

> The rupee slid as much as 1% to a record low of 76.96 per dollar on March 7, and Indian bond yields and equities fell as oil prices spiked after the war in Ukraine. India imports about three-quarters of its oil, making it especially exposed to higher crude prices.

- Date: 2022-03-07 · published 2022-03-07T12:00:00.000Z
- Category: geopolitics · region India · magnitude medium
- Page: https://feedsoft.ai/events/42546-rupee-sinks-to-lifetime-low-as-ukraine-crisis-threatens-to-push-india-s-oil
- Commodities: [Indian Rupee (INR per USD)](https://feedsoft.ai/c/USDINR.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

Oil-driven rupee weakness raises India's import costs and inflation expectations, supporting higher feed and energy input costs and keeping pressure on the currency.

## Read by commodity

- BRENT: bullish ▲
- USDINR: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| BRENT | 2022-03-07 | [India rupee falls to lifetime low as oil prices surge; yields rise - Markets - Business Recorder](https://feedsoft.ai/events/42547-india-rupee-falls-to-lifetime-low-as-oil-prices-surge-yields-rise-markets.md) | -4.6% | -13.0% |
| BRENT | 2022-02-23 | [Shipping braces for impact as Russia-Ukraine crisis intensifies](https://feedsoft.ai/events/42613-shipping-braces-for-impact-as-russia-ukraine-crisis-intensifies.md) | +10.4% | +21.2% |
| BRENT | 2022-03-02 | [OPEC+ swerves Ukraine crisis and sticks to oil output plans](https://feedsoft.ai/events/42428-opec-swerves-ukraine-crisis-and-sticks-to-oil-output-plans.md) | +21.0% | +3.3% |
| BRENT | 2022-03-01 | [Euro falls to lowest since June 2020 as Russia's invasion of Ukraine picks up](https://feedsoft.ai/events/8259-euro-falls-to-lowest-since-june-2020-as-russia-s-invasion-of-ukraine-picks-up.md) | +23.6% | +11.2% |
| BRENT | 2023-08-07 | [The Commodities Feed: Russia-Ukraine tensions add to oil supply risks \| articles \| ING THINK](https://feedsoft.ai/events/34496-the-commodities-feed-russia-ukraine-tensions-add-to-oil-supply-risks-articles.md) | +0.6% | +2.8% |

## Sources

- theprint.in: https://theprint.in/economy/rupee-sinks-to-lifetime-low-as-ukraine-crisis-threatens-to-push-indias-oil-import-bill/861918/

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