# Rupee ends almost flat at 69.28 against dollar after RBI cuts rate; foreign fund outflows, crude oil prices keep pressure on currency – Firstpost

> The Reserve Bank of India cut its benchmark repo rate by 25 basis points to 5.75%, a nearly nine-year low, and changed its policy stance to accommodative. The rupee closed marginally lower at 69.28 per dollar as foreign fund outflows and higher crude prices offset the move, which markets had already priced in.

- Date: 2019-06-06 · published 2019-06-06T12:00:00.000Z
- Category: macro · region India · magnitude low
- Page: https://feedsoft.ai/events/58895-rupee-ends-almost-flat-at-69-28-against-dollar-after-rbi-cuts-rate-foreign-fund
- Commodities: [Indian Rupee (INR per USD)](https://feedsoft.ai/c/USDINR.md)

## Why it matters

Lower Indian rates and an accommodative stance support domestic demand and the broader economy, but the rupee's weakness keeps import costs elevated for Indian buyers of feed ingredients.

## Read by commodity

- USDINR: bullish ▲

## Sources

- firstpost.com: https://www.firstpost.com/business/rupee-ends-almost-flat-at-69-28-against-dollar-after-rbi-cuts-rate-foreign-fund-outflows-crude-oil-prices-keep-pressure-on-currency-6768681.html

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