# Rupee's road ahead complicated by rising inflation, covid surge

> The rupee closed at 75.01 per dollar on April 23, 2021, and had lost 2.6% in April, putting it on track for its worst month since the pandemic began. Rising COVID-19 cases, a stronger dollar, and RBI bond purchases were cited as drivers, with traders expecting a 74.50 to 76.00 range.

- Date: 2021-04-23 · published 2021-04-23T12:00:00.000Z
- Category: macro · region India · magnitude low
- Page: https://feedsoft.ai/events/47890-rupee-s-road-ahead-complicated-by-rising-inflation-covid-surge
- Commodities: [Indian Rupee (INR per USD)](https://feedsoft.ai/c/USDINR.md)

## Why it matters

Rupee depreciation keeps India's dollar-based import costs elevated, which affects buyers of imported feed ingredients and oils. Analysts expect the currency to remain under pressure, supporting a higher USDINR.

## Read by commodity

- USDINR: bullish ▲

## Sources

- livemint.com: https://www.livemint.com/market/commodities/rupees-road-ahead-complicated-by-rising-inflation-covid-surge-11619177857785.html

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