# Despite Moody's rating downgrade, indicators point to rupee revival | News on Markets - Business Standard

> Moody's downgraded India's sovereign rating to one notch above junk, but the rupee strengthened to 75.36 per dollar as the RBI intervened in currency and bond markets. The central bank absorbed inflows from stake sales in Reliance Jio and Bharti Airtel and added $3 billion to reserves.

- Date: 2020-06-02 · published 2020-06-02T12:00:00.000Z
- Category: macro · region India · magnitude low
- Page: https://feedsoft.ai/events/52901-despite-moody-s-rating-downgrade-indicators-point-to-rupee-revival-news-on
- Commodities: [Indian Rupee (INR per USD)](https://feedsoft.ai/c/USDINR.md)

## Why it matters

RBI intervention limits rupee appreciation, which keeps Indian import costs elevated for feed ingredients. The rating downgrade adds to the rupee's macro uncertainty without changing global feed prices directly.

## Read by commodity

- USDINR: neutral

## Sources

- business-standard.com: https://www.business-standard.com/article/markets/despite-moody-s-rating-downgrade-indicators-point-to-rupee-revival-120060300001_1.html

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