# USD/INR: Rupee Extends Losses; Further Depreciation Likely

> The rupee weakened to 74.375 per dollar as higher oil prices, foreign fund outflows and a firm dollar pressured the currency. The dollar index traded near 92.42, below a two-and-a-half-month high.

- Date: 2021-07-01 · published 2021-07-01T12:00:00.000Z
- Category: macro · region India · magnitude low
- Page: https://feedsoft.ai/events/46348-usd-inr-rupee-extends-losses-further-depreciation-likely
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Indian Rupee (INR per USD)](https://feedsoft.ai/c/USDINR.md), [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

Higher oil prices and a weaker rupee increase India's import costs for feed ingredients, supporting domestic prices.

## Read by commodity

- DXY: bullish ▲
- WTI: bullish ▲
- USDINR: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2019-03-08 | [Bank Indonesia blames external factors for rupiah depreciation - Business - The Jakarta Post](https://feedsoft.ai/events/60402-bank-indonesia-blames-external-factors-for-rupiah-depreciation-business-the.md) | +3.5% | +9.7% |
| WTI | 2018-11-01 | [Rupee dips further, hits new record closing low of 74.39 against US dollar](https://feedsoft.ai/events/62813-rupee-dips-further-hits-new-record-closing-low-of-74-39-against-us-dollar.md) | -5.6% | -21.2% |
| WTI | 2023-04-12 | [Oil rises 2% on lower-than-expected US inflation data \| Reuters](https://feedsoft.ai/events/36559-oil-rises-2-on-lower-than-expected-us-inflation-data-reuters.md) | -0.8% | -9.6% |
| WTI | 2021-12-29 | [IPO flows to strengthen rupee in 2022; tighter policy likely dampener \| Top Stories on IPOs - Business Standard](https://feedsoft.ai/events/43896-ipo-flows-to-strengthen-rupee-in-2022-tighter-policy-likely-dampener-top.md) | +1.3% | +15.8% |
| WTI | 2016-12-01 | [C$ strengthens as oil extends rally on OPEC deal](https://feedsoft.ai/events/73708-c-strengthens-as-oil-extends-rally-on-opec-deal.md) | +0.8% | +8.8% |
| DXY | 2020-04-15 | [USD appreciation: I need a dollar](https://feedsoft.ai/events/53820-usd-appreciation-i-need-a-dollar.md) | +1.5% | +0.8% |
| DXY | 2021-07-13 | [Pound extends fall after US inflation data lifts dollar - Markets - Business Recorder](https://feedsoft.ai/events/46308-pound-extends-fall-after-us-inflation-data-lifts-dollar-markets-business.md) | +0.7% | +0.6% |
| DXY | 2018-05-24 | [The underlying causes of the latest EM currency depreciation](https://feedsoft.ai/events/65267-the-underlying-causes-of-the-latest-em-currency-depreciation.md) | +0.3% | +1.7% |

## Sources

- finance.yahoo.com: https://finance.yahoo.com/news/usd-inr-rupee-extends-losses-051433265.html

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