# Fitch Solutions revises forecast, says Indian rupee to trade weaker in 2021 | Money & Forex Markets - Business Standard

> Fitch Solutions raised its 2021 rupee forecast to an average of Rs 75.50 per dollar from Rs 77, while still expecting the currency to weaken slightly. It cites rising oil import costs, further RBI rate cuts and risk-off sentiment as pressures. Brent is forecast to average $53 per barrel in 2021.

- Date: 2021-01-04 · published 2021-01-04T12:00:00.000Z
- Category: macro · region India · magnitude low
- Page: https://feedsoft.ai/events/49441-fitch-solutions-revises-forecast-says-indian-rupee-to-trade-weaker-in-2021
- Commodities: [Indian Rupee (INR per USD)](https://feedsoft.ai/c/USDINR.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

Higher oil prices and a weaker rupee raise India's import bill, which can support dollar-denominated purchases of feed ingredients and vegetable oils.

## Read by commodity

- BRENT: bullish ▲
- USDINR: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| BRENT | 2021-10-06 | [Rupee at 74.98 against USD, bond mkt shrugs off Moody's outlook upgrade \| Money & Forex Markets - Business Standard](https://feedsoft.ai/events/44866-rupee-at-74-98-against-usd-bond-mkt-shrugs-off-moody-s-outlook-upgrade-money.md) | +1.0% | +2.3% |
| BRENT | 2024-02-09 | [Indian rupee weakens slightly on dollar demand from state-run banks, importers - Markets - Business Recorder](https://feedsoft.ai/events/31968-indian-rupee-weakens-slightly-on-dollar-demand-from-state-run-banks-importers.md) | +1.5% | +1.9% |
| BRENT | 2018-12-03 | [Rupee ends 4-day winning run, drops 88p at 70.46 per dollar on oil price \| Money & Forex Markets - Business Standard](https://feedsoft.ai/events/61852-rupee-ends-4-day-winning-run-drops-88p-at-70-46-per-dollar-on-oil-price-money.md) | +6.0% | -10.4% |
| BRENT | 2023-10-30 | [India rupee likely to struggle despite relief for Asian peers - Markets - Business Recorder](https://feedsoft.ai/events/33909-india-rupee-likely-to-struggle-despite-relief-for-asian-peers-markets-business.md) | -4.9% | -11.5% |
| BRENT | 2023-09-28 | [Indian rupee poised to test record low as oil prices, US yields climb - Markets - Business Recorder](https://feedsoft.ai/events/34393-indian-rupee-poised-to-test-record-low-as-oil-prices-us-yields-climb-markets.md) | -9.3% | -6.9% |

## Sources

- business-standard.com: https://www.business-standard.com/article/finance/fitch-solutions-revises-forecast-says-indian-rupee-to-trade-weaker-in-2021-121010400318_1.html

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