# USD/INR logs biggest single-day drop since Nov. 1 ahead of the RBI rate decision — Octa

> The rupee fell 0.44% against the dollar on Wednesday, its biggest one-day move since November 1, as it traded ahead of an expected 25 basis point RBI rate cut. Weak US services data, with the ISM non-manufacturing index at 53.9 and ADP jobs growth of only 67,000, added to the dollar's softness.

- Date: 2019-12-05 · published 2019-12-05T12:00:00.000Z
- Category: macro · region India · magnitude low
- Page: https://feedsoft.ai/events/55858-usd-inr-logs-biggest-single-day-drop-since-nov-1-ahead-of-the-rbi-rate-decision
- Commodities: [Indian Rupee (INR per USD)](https://feedsoft.ai/c/USDINR.md)

## Why it matters

Weaker US data and a softer dollar reduce import costs for India, but the move is a routine currency fluctuation with limited direct effect on feed commodity prices.

## Sources

- octaafrica.net: https://www.octaafrica.net/markets/news/view/781048/

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