# Cheaper oil, foreign flows a tailwind for rupee

> India's rupee, one of Asia's worst performers this year, has lost nearly 7% against the dollar and hit a record low of 76.92 on Wednesday. Analysts said the currency could be the fastest in the region to rally as economies reopen, oil prices weaken and the dollar eases.

- Date: 2020-04-24 · published 2020-04-24T12:00:00.000Z
- Category: macro · region India · magnitude low
- Page: https://feedsoft.ai/events/53924-cheaper-oil-foreign-flows-a-tailwind-for-rupee
- Commodities: [Indian Rupee (INR per USD)](https://feedsoft.ai/c/USDINR.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

Oil is a major import for India, so cheaper crude eases the import bill and could push the current account toward surplus, which would support the rupee and lower USD/INR. For feed buyers, a stronger rupee trims the local-currency cost of imported meal and ingredients.

## Read by commodity

- WTI: bearish ▼
- USDINR: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2020-05-11 | [The oil crash couldn’t have come at a better time for India’s rupee](https://feedsoft.ai/events/53410-the-oil-crash-couldn-t-have-come-at-a-better-time-for-india-s-rupee.md) | +19.0% | +54.4% |
| WTI | 2020-07-30 | [Oil Traders Await Cheaper Saudi Crude With Demand Ebbing](https://feedsoft.ai/events/52261-oil-traders-await-cheaper-saudi-crude-with-demand-ebbing.md) | +2.6% | +5.1% |
| WTI | 2021-07-15 | [Rupee's wild ride may end as foreign inflows surge: Credit Agricole CIB \| Money & Forex Markets - Business Standard](https://feedsoft.ai/events/46344-rupee-s-wild-ride-may-end-as-foreign-inflows-surge-credit-agricole-cib-money.md) | -3.8% | -5.2% |
| WTI | 2023-08-21 | [Crude oil settles lower as hope fades for Chinese demand](https://feedsoft.ai/events/34761-crude-oil-settles-lower-as-hope-fades-for-chinese-demand.md) | -1.2% | +12.6% |
| WTI | 2026-06-24 | [Oil curve points to near-term glut as Hormuz flows rise \| Reuters](https://feedsoft.ai/events/18985-oil-curve-points-to-near-term-glut-as-hormuz-flows-rise-reuters.md) | -5.3% | +15.5% |

## Sources

- timesofindia.indiatimes.com: https://timesofindia.indiatimes.com/business/india-business/cheaper-oil-foreign-flows-a-tailwind-for-rupee/articleshow/75349237.cms

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