# Rupee slumps 23 paise, settles below 74/USD level  - The Hindu

> The Indian rupee fell 23 paise to settle at 74.10 per US dollar, slipping below the 74 level and hitting a two-month low. Investors sought safe-haven dollar assets amid weak domestic equities and rising COVID-19 cases prompting lockdowns in some EU countries.

- Date: 2020-10-29 · published 2020-10-29T12:00:00.000Z
- Category: market · region India · magnitude low
- Page: https://feedsoft.ai/events/50893-rupee-slumps-23-paise-settles-below-74-usd-level-the-hindu
- Commodities: [Indian Rupee (INR per USD)](https://feedsoft.ai/c/USDINR.md)

## Why it matters

A weaker rupee raises the landed cost of imported feed inputs and vegetable oils for India, while global risk aversion can pressure commodity prices broadly.

## Read by commodity

- USDINR: bullish ▲

## Sources

- thehindu.com: https://www.thehindu.com/business/markets/rupee-slumps-23-paise-settles-below-74usd-level/article32971352.ece

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