# RBI steps up intervention in forwards, rupee weakens on heavy dollar demand | Finance Other News - Business Standard

> The rupee weakened to 74.94 per dollar as heavy dollar demand from defence spending met Reserve Bank of India intervention. The RBI is parking accumulated dollars in the forward market to improve liquidity.

- Date: 2020-07-07 · published 2020-07-07T12:00:00.000Z
- Category: macro · region India · magnitude low
- Page: https://feedsoft.ai/events/52381-rbi-steps-up-intervention-in-forwards-rupee-weakens-on-heavy-dollar-demand
- Commodities: [Indian Rupee (INR per USD)](https://feedsoft.ai/c/USDINR.md)

## Why it matters

Currency intervention shapes the rupee's cost of imports, and a weaker rupee raises the price of imported vegetable oils and feed ingredients for Indian buyers.

## Read by commodity

- USDINR: bullish ▲

## Sources

- business-standard.com: https://www.business-standard.com/article/finance/rbi-steps-up-intervention-in-forwards-rupee-weakens-on-heavy-dollar-demand-120070701304_1.html

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