# Rupee slumps 29 paise to 73.76 against U.S. dollar in early trade

> The rupee opened 29 paise lower at 73.76 per dollar on March 1, weighed down by significant foreign fund outflows and rising crude oil prices. Brent rose 1.51% to $65.39 per barrel.

- Date: 2021-03-01 · published 2021-03-01T12:00:00.000Z
- Category: macro · region India · magnitude low
- Page: https://feedsoft.ai/events/48400-rupee-slumps-29-paise-to-73-76-against-u-s-dollar-in-early-trade
- Commodities: [Indian Rupee (INR per USD)](https://feedsoft.ai/c/USDINR.md)

## Why it matters

Foreign outflows and higher oil costs push the rupee weaker, raising the cost of dollar-priced imports for India. The effect on feed-grain prices is modest and indirect.

## Read by commodity

- USDINR: bullish ▲

## Sources

- thehindu.com: https://www.thehindu.com/business/markets/rupee-slumps-29-paise-to-7376-against-us-dollar-in-early-trade/article33959409.ece

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