# How the rupee strengthened against the U.S. dollar - The Hindu

> The rupee strengthened 19 paise to 70.98 against the dollar on the interbank forex market. A CARE Ratings report attributed the short-term appreciation to falling global oil prices and net selling of foreign portfolio investments in 2018.

- Date: 2019-01-29 · published 2019-01-29T12:00:00.000Z
- Category: macro · region India · magnitude low
- Page: https://feedsoft.ai/events/61356-how-the-rupee-strengthened-against-the-u-s-dollar-the-hindu
- Commodities: [Indian Rupee (INR per USD)](https://feedsoft.ai/c/USDINR.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

India imports over 80% of its oil, so lower crude prices ease the import bill and support the rupee, which can improve India's buying power for feed inputs like soybean meal and corn.

## Read by commodity

- WTI: bearish ▼
- USDINR: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2021-02-28 | [Metals smashed as dollar strengthens](https://feedsoft.ai/events/48548-metals-smashed-as-dollar-strengthens.md) | +7.4% | -1.0% |
| WTI | 2026-06-01 | [Ringgit ends higher against US dollar on renewed risk appetite](https://feedsoft.ai/events/19535-ringgit-ends-higher-against-us-dollar-on-renewed-risk-appetite.md) | +1.7% | -21.8% |
| WTI | 2022-07-05 | [Euro Hits 20-Year Low Against Dollar as Markets Slide - The New York Times](https://feedsoft.ai/events/10287-euro-hits-20-year-low-against-dollar-as-markets-slide-the-new-york-times.md) | -3.9% | -12.8% |
| WTI | 2024-09-30 | [Canadian Dollar Hits Six-Day Low While US Dollar Gains Strength - Finimize](https://feedsoft.ai/events/28561-canadian-dollar-hits-six-day-low-while-us-dollar-gains-strength-finimize.md) | +9.1% | +5.0% |
| WTI | 2021-05-21 | [The peso depreciates against the dollar by 2 factors - Opportimes](https://feedsoft.ai/events/47311-the-peso-depreciates-against-the-dollar-by-2-factors-opportimes.md) | +7.9% | +15.6% |

## Sources

- thehindu.com: https://www.thehindu.com/business/how-rupee-strengthened-against-dollar/article26118402.ece

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