# Explained: Impact of crude oil price rise on the Indian rupee | Explained News - The Indian Express

> Brent crude rose to an intraday high of $74.31 a barrel after reports that the US would stop granting sanctions waivers to countries importing Iranian crude from May 2. Prices had already risen about 14.7% since late February on OPEC supply concerns and sanctions on Venezuela. The rupee weakened in response to the higher oil import bill.

- Date: 2019-04-22 · published 2019-04-22T12:00:00.000Z
- Category: geopolitics · region India · magnitude medium
- Page: https://feedsoft.ai/events/59885-explained-impact-of-crude-oil-price-rise-on-the-indian-rupee-explained-news-the
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Indian Rupee (INR per USD)](https://feedsoft.ai/c/USDINR.md)

## Why it matters

Higher crude raises India's import bill and inflation risk, pressuring the rupee and weighing on demand for imported commodities and feed inputs.

## Read by commodity

- BRENT: bullish ▲
- USDINR: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| BRENT | 2022-03-02 | [Oil price rises again as buyers shun Russian crude](https://feedsoft.ai/events/9459-oil-price-rises-again-as-buyers-shun-russian-crude.md) | +21.0% | +3.3% |
| BRENT | 2019-04-22 | [U.S. to end all waivers on imports of Iranian oil, crude price jumps](https://feedsoft.ai/events/9604-u-s-to-end-all-waivers-on-imports-of-iranian-oil-crude-price-jumps.md) | +0.4% | +2.4% |
| BRENT | 2019-05-01 | [How the US move on Iran oil could hit India's basmati rice exports \| Economy & Policy News - Business Standard](https://feedsoft.ai/events/59033-how-the-us-move-on-iran-oil-could-hit-india-s-basmati-rice-exports-economy-and.md) | -2.9% | -3.4% |
| BRENT | 2024-08-26 | [Palm and soybean oil prices rise in response to recovery in crude oil prices](https://feedsoft.ai/events/28878-palm-and-soybean-oil-prices-rise-in-response-to-recovery-in-crude-oil-prices.md) | -0.2% | -5.6% |
| BRENT | 2026-08-25 | [Crude oil price traded higher on Tuesday morning. - The HinduBusinessLine](https://feedsoft.ai/events/18009-crude-oil-price-traded-higher-on-tuesday-morning-the-hindubusinessline.md) | -2.5% | +16.8% |

## Sources

- indianexpress.com: https://indianexpress.com/article/explained/explained-impact-of-crude-oil-price-rise-on-indian-rupee-5689020/

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