# Rupee drops by 6 paise to end at 71.38 on forex outflows

> The rupee fell 6 paise to close at 71.38 per dollar on Monday, pared early losses and settled lower on forex outflows. Crude oil prices eased that day. Traders focused on the upcoming RBI policy meeting and concerns over fiscal slippage and coronavirus.

- Date: 2020-02-03 · published 2020-02-03T12:00:00.000Z
- Category: macro · region India · magnitude low
- Page: https://feedsoft.ai/events/54865-rupee-drops-by-6-paise-to-end-at-71-38-on-forex-outflows
- Commodities: [Indian Rupee (INR per USD)](https://feedsoft.ai/c/USDINR.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

Easing crude and a slightly weaker rupee leave India's import costs roughly unchanged. The RBI policy decision could shift the currency outlook, but the day's move is small and has little effect on feed prices.

## Read by commodity

- BRENT: bearish ▼
- USDINR: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| BRENT | 2020-01-24 | [Rupee down 7 paise to end at 71.33  - The HinduBusinessLine](https://feedsoft.ai/events/55367-rupee-down-7-paise-to-end-at-71-33-the-hindubusinessline.md) | -5.9% | -3.6% |
| BRENT | 2021-11-03 | [Rupee rises by 22 paise to nearly 1-month high on FPI flows \| Business](https://feedsoft.ai/events/44323-rupee-rises-by-22-paise-to-nearly-1-month-high-on-fpi-flows-business.md) | +0.1% | -16.4% |
| BRENT | 2018-12-01 | [Indian rupee rises 17 paise to 70.62 on easing crude prices](https://feedsoft.ai/events/62326-indian-rupee-rises-17-paise-to-70-62-on-easing-crude-prices.md) | +6.0% | -10.4% |
| BRENT | 2021-07-27 | [USD/JPY Drops on Haven Flows as Traders Brace for FOMC \| Forex trading, free forex education \| Forex.ca](https://feedsoft.ai/events/46302-usd-jpy-drops-on-haven-flows-as-traders-brace-for-fomc-forex-trading-free-forex.md) | -1.7% | -7.7% |
| BRENT | 2019-09-18 | [Rupee stems losses, rallies 54 paise to 71.24 vs USD on easing oil prices - India Today](https://feedsoft.ai/events/57383-rupee-stems-losses-rallies-54-paise-to-71-24-vs-usd-on-easing-oil-prices-india.md) | -2.2% | -9.4% |

## Sources

- business-standard.com: https://www.business-standard.com/article/pti-stories/rupee-drops-by-6-paise-to-end-at-71-38-on-forex-outflows-120020301232_1.html

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