# RBI Intervention And Sharply Lower Oil Prices Halted The Rapid Rise In USD/INR | Investing.com India

> The rupee touched 74.95 per dollar on Tuesday before the RBI sold dollars near 75.00, closing at 74.61. OPEC and allies agreed to phase out 5.8 million barrels per day of cuts, and Brent fell about 11% from its July 6-7 high.

- Date: 2021-07-21 · published 2021-07-21T12:00:00.000Z
- Category: macro · region India · magnitude low
- Page: https://feedsoft.ai/events/46346-rbi-intervention-and-sharply-lower-oil-prices-halted-the-rapid-rise-in-usd-inr
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Indian Rupee (INR per USD)](https://feedsoft.ai/c/USDINR.md)

## Why it matters

Lower crude reduces import bill pressure and freight costs, easing the cost of imported feed inputs for India.

## Read by commodity

- BRENT: bearish ▼
- USDINR: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| BRENT | 2019-09-18 | [Rupee stems losses, rallies 54 paise to 71.24 vs USD on easing oil prices - India Today](https://feedsoft.ai/events/57383-rupee-stems-losses-rallies-54-paise-to-71-24-vs-usd-on-easing-oil-prices-india.md) | -2.2% | -9.4% |
| BRENT | 2018-12-20 | [Oil demand flashes red, sending crude prices even lower](https://feedsoft.ai/events/11080-oil-demand-flashes-red-sending-crude-prices-even-lower.md) | -8.1% | +10.6% |
| BRENT | 2022-08-04 | [Oil prices hit lowest since Ukraine invasion amid recession fears \| Reuters](https://feedsoft.ai/events/12795-oil-prices-hit-lowest-since-ukraine-invasion-amid-recession-fears-reuters.md) | +1.9% | -2.8% |
| BRENT | 2025-03-05 | [Declining crude oil and vegetable oil prices lower prices for sunflower seeds and oil in Ukraine](https://feedsoft.ai/events/11140-declining-crude-oil-and-vegetable-oil-prices-lower-prices-for-sunflower-seeds.md) | -1.6% | +6.2% |
| BRENT | 2017-05-06 | [Crude prices fall amid high inventories and concerns over China \| The National](https://feedsoft.ai/events/11195-crude-prices-fall-amid-high-inventories-and-concerns-over-china-the-national.md) | +3.5% | +1.9% |

## Sources

- in.investing.com: https://in.investing.com/analysis/rbi-intervention-and-sharply-lower-oil-prices-halted-the-rapid-rise-in-usdinr-200487042

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