# INR Vs USD (Rupee Vs Dollar) Currency Exchange Rate Rupee Closes This Much Higher On May 31

> The Indian rupee closed 17 paise higher at 69.70 per dollar on May 31, snapping a three-session losing streak. Crude oil eased and the greenback weakened in overseas markets. The rupee still fell 34 paise on the week.

- Date: 2019-05-31 · published 2019-05-31T12:00:00.000Z
- Category: macro · region India · magnitude low
- Page: https://feedsoft.ai/events/59356-inr-vs-usd-rupee-vs-dollar-currency-exchange-rate-rupee-closes-this-much-higher
- Commodities: [Indian Rupee (INR per USD)](https://feedsoft.ai/c/USDINR.md)

## Why it matters

A stronger rupee lowers the local cost of imported feed inputs such as soybean meal and oilseeds bought in dollars, marginally easing India's import costs. The move is small and driven mainly by currency and oil, so it has little direct effect on grain prices.

## Read by commodity

- USDINR: bearish ▼

## Sources

- ndtvprofit.com: https://www.ndtvprofit.com/business/inr-vs-usd-rupee-vs-dollar-currency-exchange-rate-rupee-closes-this-much-higher-on-may-31-2046112-10342204

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