# Rupee rallies to nearly 2-month high as crude subsides | Rupee rallies to nearly 2-month high as crude subsides

> The rupee closed 0.44% higher at 70.56 per dollar on September 27, 2019, its strongest level in nearly two months. Brent fell 2.56% to about $61 a barrel after reports of a partial Saudi ceasefire in Yemen and near-normal Saudi oil output.

- Date: 2019-09-27 · published 2019-09-27T12:00:00.000Z
- Category: macro · region India · magnitude low
- Page: https://feedsoft.ai/events/57382-rupee-rallies-to-nearly-2-month-high-as-crude-subsides-rupee-rallies-to-nearly
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Indian Rupee (INR per USD)](https://feedsoft.ai/c/USDINR.md)

## Why it matters

Lower crude reduces energy and freight costs and eases the pressure on oil-importing emerging-market currencies. The price drop reflects the easing of the Saudi supply shock.

## Read by commodity

- BRENT: bearish ▼
- USDINR: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| 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 | 2018-12-20 | [Oil plunges nearly 5 percent to 17-month low as stock market slumps](https://feedsoft.ai/events/8704-oil-plunges-nearly-5-percent-to-17-month-low-as-stock-market-slumps.md) | -8.1% | +10.6% |
| BRENT | 2020-11-26 | [Oil Slips From 8-Month High as Rally Fizzles Out - Energy News, Top Headlines, Commentaries, Features & Events - EnergyNow.com](https://feedsoft.ai/events/50317-oil-slips-from-8-month-high-as-rally-fizzles-out-energy-news-top-headlines.md) | +0.2% | +6.6% |
| BRENT | 2017-11-29 | [Rupee rises for 3rd day, hits new 2-month high ahead of GDP data \| News on Markets - Business Standard](https://feedsoft.ai/events/68258-rupee-rises-for-3rd-day-hits-new-2-month-high-ahead-of-gdp-data-news-on-markets.md) | -0.7% | +4.2% |
| BRENT | 2017-04-21 | [Why the crude rally has fizzled, continued: Market analysis series](https://feedsoft.ai/events/71649-why-the-crude-rally-has-fizzled-continued-market-analysis-series.md) | -2.6% | +0.6% |

## Sources

- asianage.com: https://www.asianage.com/business/market/270919/rupee-rallies-to-nearly-2-month-high-as-crude-subsides.html

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