# Rupee pares gains, settles 36 paise down at 70.02

> The rupee settled 36 paise lower at 70.02 per dollar on May 23 after erasing early gains. Investors shifted focus from the election result to crude prices, the US-China trade dispute and the upcoming RBI policy meeting. The dollar index rose 0.16 percent to 98.19.

- Date: 2019-06-01 · published 2019-06-01T12:00:00.000Z
- Category: macro · region India · magnitude low
- Page: https://feedsoft.ai/events/59357-rupee-pares-gains-settles-36-paise-down-at-70-02
- Commodities: [Indian Rupee (INR per USD)](https://feedsoft.ai/c/USDINR.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

A weaker rupee raises India's cost of dollar-priced imports, including crude oil and vegetable oils, which tightens domestic feed input margins. The effect on global feed grain prices is limited.

## Read by commodity

- BRENT: neutral
- USDINR: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| BRENT | 2022-12-08 | [Rupee inches up as U.S. yields drop, weak Asian cues cap gains \| Financial Post](https://feedsoft.ai/events/38493-rupee-inches-up-as-u-s-yields-drop-weak-asian-cues-cap-gains-financial-post.md) | +7.6% | +0.4% |
| BRENT | 2022-02-24 | [Indian rupee leads gains among Asian FX - Business & Finance - Business Recorder](https://feedsoft.ai/events/42985-indian-rupee-leads-gains-among-asian-fx-business-and-finance-business-recorder.md) | +18.2% | +27.0% |
| BRENT | 2021-07-13 | [Ringgit opens slightly lower against US dollar \| Malay Mail](https://feedsoft.ai/events/46331-ringgit-opens-slightly-lower-against-us-dollar-malay-mail.md) | -9.2% | -8.7% |
| BRENT | 2019-12-30 | [Oil price rise muted in 2019 despite sanctions, supply cuts, attack in Saudi Arabia](https://feedsoft.ai/events/55730-oil-price-rise-muted-in-2019-despite-sanctions-supply-cuts-attack-in-saudi.md) | +1.5% | -14.0% |
| BRENT | 2019-03-18 | [Oil on the horns of a dilemma as slowdown, supply cuts play out, ETAuto](https://feedsoft.ai/events/60285-oil-on-the-horns-of-a-dilemma-as-slowdown-supply-cuts-play-out-etauto.md) | +0.0% | +7.4% |

## Sources

- auto.economictimes.indiatimes.com: https://auto.economictimes.indiatimes.com/news/industry/rupee-pares-gains-settles-36-paise-down-at-70-02/69473902

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