# Rupee drops 20 paise to 70.92 vs USD amid weak GDP, rising crude

> The rupee fell 20 paise to close at 70.92 per dollar on March 1. Traders cited India's slower October-December GDP growth of 6.6%, higher crude prices, and faltering US-China trade talks.

- Date: 2019-03-01 · published 2019-03-01T12:00:00.000Z
- Category: macro · region India · magnitude low
- Page: https://feedsoft.ai/events/60390-rupee-drops-20-paise-to-70-92-vs-usd-amid-weak-gdp-rising-crude
- Commodities: [Indian Rupee (INR per USD)](https://feedsoft.ai/c/USDINR.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

A weaker rupee raises the cost of imported crude and feed inputs for India. The slowdown in growth also points to softer domestic demand.

## Read by commodity

- WTI: bullish ▲
- USDINR: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2022-02-24 | [Rupee plummets 99 paise to 75.60 per dollar amid Ukraine crisis - Times of India](https://feedsoft.ai/events/42984-rupee-plummets-99-paise-to-75-60-per-dollar-amid-ukraine-crisis-times-of-india.md) | +20.2% | +24.7% |
| WTI | 2018-09-28 | [USD/CAD drops further on the back of GDP data and crude oil rally — Octa](https://feedsoft.ai/events/63272-usd-cad-drops-further-on-the-back-of-gdp-data-and-crude-oil-rally-octa.md) | +3.1% | -6.8% |
| WTI | 2018-09-18 | [Rupee closes at new all-time low as crude prices rise](https://feedsoft.ai/events/63323-rupee-closes-at-new-all-time-low-as-crude-prices-rise.md) | +5.8% | +4.3% |
| WTI | 2023-07-26 | [Rupee falls 13 paise to close at 82.01 against US dollar](https://feedsoft.ai/events/35320-rupee-falls-13-paise-to-close-at-82-01-against-us-dollar.md) | +2.1% | +0.7% |
| WTI | 2019-10-31 | [Rupee rises 9 paise against US dollar after Fed rate cut  - The Hindu](https://feedsoft.ai/events/56841-rupee-rises-9-paise-against-us-dollar-after-fed-rate-cut-the-hindu.md) | +2.4% | +5.8% |

## Sources

- business-standard.com: https://www.business-standard.com/article/pti-stories/rupee-drops-20-paise-to-70-92-vs-usd-amid-weak-gdp-rising-crude-119030100839_1.html

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