# Rupee falls 12 paise on dollar buying by banks, fiscal concerns

> The rupee fell 12 paise to close at 73.49 per dollar as state-run banks bought dollars amid expectations of a stimulus package from Prime Minister Modi. Capital inflows and strong domestic equities limited the losses.

- Date: 2020-10-20 · published 2020-10-20T12:00:00.000Z
- Category: market · region India · magnitude low
- Page: https://feedsoft.ai/events/50896-rupee-falls-12-paise-on-dollar-buying-by-banks-fiscal-concerns
- Commodities: [Indian Rupee (INR per USD)](https://feedsoft.ai/c/USDINR.md)

## Why it matters

Fiscal stimulus expectations and dollar buying weaken the rupee, which raises import costs for Indian feed ingredients and vegetable oils.

## Read by commodity

- USDINR: bullish ▲

## Sources

- thehindu.com: https://www.thehindu.com/business/markets/rupee-falls-12-paise-on-dollar-buying-by-banks-fiscal-concerns/article32901369.ece

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