# Rupee spurts by 18 paise on weak dollar, PM Modi reform push

> The rupee rose 18 paise to close at 75.36 per US dollar on June 2, after Prime Minister Modi pledged further structural reforms and a return to growth. Forex traders also cited positive domestic equities, a weaker dollar and foreign inflows.

- Date: 2020-06-02 · published 2020-06-02T12:00:00.000Z
- Category: market · region India · magnitude low
- Page: https://feedsoft.ai/events/52903-rupee-spurts-by-18-paise-on-weak-dollar-pm-modi-reform-push
- Commodities: [Indian Rupee (INR per USD)](https://feedsoft.ai/c/USDINR.md)

## Why it matters

A firmer rupee lowers Indian import costs for dollar-priced feed inputs marginally, with no clear effect on global feed prices.

## Read by commodity

- USDINR: bearish ▼

## Sources

- newindianexpress.com: https://www.newindianexpress.com/business/2020/Jun/02/rupee-spurts-by-18-paise-on-weak-dollar-pm-modi-reform-push-2151273.html

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