# Rupee falls sharply after Yellen renews call for raising US debt ceiling | Money & Forex Markets - Business Standard

> The rupee fell sharply on Monday after U.S. Treasury Secretary Janet Yellen renewed her call for Congress to raise the debt ceiling to avoid a possible U.S. default. Yellen warned that default could trigger a spike in interest rates and a financial crisis. The yuan's depreciation added pressure on the rupee.

- Date: 2021-09-20 · published 2021-09-20T12:00:00.000Z
- Category: macro · region US · magnitude low
- Page: https://feedsoft.ai/events/45340-rupee-falls-sharply-after-yellen-renews-call-for-raising-us-debt-ceiling-money
- Commodities: [Indian Rupee (INR per USD)](https://feedsoft.ai/c/USDINR.md)

## Why it matters

Heightened U.S. default risk drives safe-haven dollar demand and emerging-market currency weakness, raising the rupee cost of imported feed. The impact depends on whether the debt ceiling standoff escalates.

## Read by commodity

- USDINR: bullish ▲

## Sources

- business-standard.com: https://www.business-standard.com/article/finance/rupee-falls-sharply-as-janet-yellen-renews-call-for-raising-debt-ceiling-121092000383_1.html

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