# India's rupee forecast to bounce back from recent drubbing: Reuters poll | Reuters

> Emerging market currencies fell after the US-China trade war escalated and China let the yuan weaken above 7 per dollar for the first time in over a decade. The rupee dropped 1.6% in a single session, its biggest decline.

- Date: 2019-08-07 · published 2019-08-07T12:00:00.000Z
- Category: macro · region China · magnitude medium
- Page: https://feedsoft.ai/events/57853-india-s-rupee-forecast-to-bounce-back-from-recent-drubbing-reuters-poll-reuters
- Commodities: [Chinese Yuan (CNY per USD)](https://feedsoft.ai/c/USDCNY.md), [Indian Rupee (INR per USD)](https://feedsoft.ai/c/USDINR.md), [Soybeans](https://feedsoft.ai/c/SOY.md)

## Why it matters

A sharp yuan-led sell-off in emerging currencies raises the cost of imported feed for Asian buyers and signals weaker Chinese import demand for US soybeans and other feed grains.

## Read by commodity

- SOY: bearish ▼
- USDCNY: bullish ▲
- USDINR: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| USDCNY | 2019-08-09 | [China lowers yuan mid-point to fresh 11-year low, but higher than forecasts \| Reuters](https://feedsoft.ai/events/8381-china-lowers-yuan-mid-point-to-fresh-11-year-low-but-higher-than-forecasts.md) | -0.2% | +1.0% |
| USDCNY | 2018-11-01 | [China to defend 7 yuan per dollar rate, but may find it tough: Reuters poll](https://feedsoft.ai/events/62264-china-to-defend-7-yuan-per-dollar-rate-but-may-find-it-tough-reuters-poll.md) | -0.8% | -0.3% |
| USDCNY | 2024-11-28 | [Chinese yuan to hit record lows as U.S. tariff threat mounts, investment banks forecast](https://feedsoft.ai/events/27630-chinese-yuan-to-hit-record-lows-as-u-s-tariff-threat-mounts-investment-banks.md) | +0.1% | +0.7% |
| USDCNY | 2017-01-01 | [In 2016, RBI’s actions changed the fortune of Indian rupee - Banking & Finance News \| The Financial Express](https://feedsoft.ai/events/73268-in-2016-rbi-s-actions-changed-the-fortune-of-indian-rupee-banking-and-finance.md) | -0.1% | -1.0% |
| USDCNY | 2018-05-30 | [Why we’re forecasting the yuan to depreciate \| articles \| ING THINK](https://feedsoft.ai/events/65232-why-we-re-forecasting-the-yuan-to-depreciate-articles-ing-think.md) | -0.2% | +2.5% |
| SOY | 2018-11-01 | [China to defend 7 yuan per dollar rate, but may find it tough: Reuters poll](https://feedsoft.ai/events/62264-china-to-defend-7-yuan-per-dollar-rate-but-may-find-it-tough-reuters-poll.md) | +3.4% | +5.8% |
| SOY | 2024-11-28 | [Chinese yuan to hit record lows as U.S. tariff threat mounts, investment banks forecast](https://feedsoft.ai/events/27630-chinese-yuan-to-hit-record-lows-as-u-s-tariff-threat-mounts-investment-banks.md) | +0.5% | -0.9% |
| SOY | 2023-09-28 | [Dollar index powers to 10-month high - Business & Finance - Business Recorder](https://feedsoft.ai/events/34310-dollar-index-powers-to-10-month-high-business-and-finance-business-recorder.md) | -2.3% | -1.2% |

## Sources

- reuters.com: https://www.reuters.com/article/world/indias-rupee-forecast-to-bounce-back-from-recent-drubbing-reuters-poll-idUSKCN1UX067/

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