# USD/INR: Rupee Remains Sub 75.00 Despite -6% GDP Contraction Forecast - Currency Live

> The rupee held below 75 per dollar at 74.84 as BofA Securities forecast Indian GDP to contract 6% in FY2020-21 and expected the RBI to cut rates by 1%. The dollar was rising against major peers ahead of expected dovish Federal Reserve signals.

- Date: 2020-07-28 · published 2020-07-28T12:00:00.000Z
- Category: macro · region India · magnitude low
- Page: https://feedsoft.ai/events/52384-usd-inr-rupee-remains-sub-75-00-despite-6-gdp-contraction-forecast-currency-live
- Commodities: [Indian Rupee (INR per USD)](https://feedsoft.ai/c/USDINR.md)

## Why it matters

A weak economic outlook and rate cuts add pressure on the rupee, while a firmer dollar raises the cost of imported feed and oilseed products for India.

## Read by commodity

- USDINR: neutral

## Sources

- currencylive.com: https://currencylive.com/news/103711-usd-inr-rupee-remains-sub-75-despite-6-gdp-contraction-forecast/

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