# USD/INR: Rupee Drops, Record GDP Contraction Expected - Currency Live

> The rupee traded 0.5% higher at 73.54 per dollar after falling more than 2% the previous week. Traders cited renewed border tensions with China and expectations of a record Indian GDP contraction of about 20% for the April-June quarter.

- Date: 2020-08-31 · published 2020-08-31T12:00:00.000Z
- Category: macro · region India · magnitude low
- Page: https://feedsoft.ai/events/51873-usd-inr-rupee-drops-record-gdp-contraction-expected-currency-live
- Commodities: [Indian Rupee (INR per USD)](https://feedsoft.ai/c/USDINR.md)

## Why it matters

Weakness in the rupee raises the cost of imported feed inputs for India, and a deep economic contraction could reduce domestic feed demand.

## Read by commodity

- USDINR: bullish ▲

## Sources

- currencylive.com: https://currencylive.com/news/104088-usd-inr-rupee-drops-record-gdp-contraction-expected/

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