# Rupee tumbles 22 paise against dollar on crude concerns

> The rupee slid 22 paise to 70.08 per dollar in early trade on rising global crude prices and fresh dollar demand from banks and importers. Brent edged up to $74.60 a barrel. A rating agency warned that a 10% crude spike could widen India's current account deficit and push the rupee down 3-4%.

- Date: 2019-05-01 · published 2019-05-01T12:00:00.000Z
- Category: market · region India · magnitude low
- Page: https://feedsoft.ai/events/59887-rupee-tumbles-22-paise-against-dollar-on-crude-concerns
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Indian Rupee (INR per USD)](https://feedsoft.ai/c/USDINR.md)

## Why it matters

Persistent crude strength raises India's import costs and currency risk, which can increase the price of imported feed ingredients in rupee terms.

## Read by commodity

- BRENT: bullish ▲
- USDINR: bullish ▲

## Sources

- indiatvnews.com: https://www.indiatvnews.com/business/news-rupee-tumbles-22-paise-against-dollar-on-crude-concerns-516348

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