# Rupee closes at 69.85 a dollar after 3 months of weak run in the 70s | News on Markets - Business Standard

> The Indian rupee closed at 69.85 per dollar, its first close below 70 since August, gaining 77 paise as oil prices fell below $60 a barrel. Sensex and Nifty closed at their highest levels since October 1 after Fed Chair Jerome Powell said policy rates were just below neutral.

- Date: 2018-11-29 · published 2018-11-29T12:00:00.000Z
- Category: macro · region India · magnitude low
- Page: https://feedsoft.ai/events/62319-rupee-closes-at-69-85-a-dollar-after-3-months-of-weak-run-in-the-70s-news-on
- Commodities: [Indian Rupee (INR per USD)](https://feedsoft.ai/c/USDINR.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

Lower crude prices ease India's import bill and current account deficit, which supports the rupee against the dollar. Weaker oil also reduces the cost of imported energy for Indian buyers.

## Read by commodity

- BRENT: bearish ▼
- USDINR: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| BRENT | 2017-11-29 | [Rupee rises for 3rd day, hits new 2-month high ahead of GDP data \| News on Markets - Business Standard](https://feedsoft.ai/events/68258-rupee-rises-for-3rd-day-hits-new-2-month-high-ahead-of-gdp-data-news-on-markets.md) | -0.7% | +4.2% |
| BRENT | 2022-02-16 | [How will the Russia-Ukraine crisis, US Fed affect rupee? \| News on Markets - Business Standard](https://feedsoft.ai/events/42988-how-will-the-russia-ukraine-crisis-us-fed-affect-rupee-news-on-markets-business.md) | +2.0% | +7.0% |
| BRENT | 2018-12-01 | [Indian rupee soars 77 paise, under 70 per dollar mark after 3 months](https://feedsoft.ai/events/62324-indian-rupee-soars-77-paise-under-70-per-dollar-mark-after-3-months.md) | +6.0% | -10.4% |
| BRENT | 2026-08-25 | [Rupee leads Asian currencies; bond yields ease as crude slips below $90 \| Markets News - Business Standard](https://feedsoft.ai/events/18181-rupee-leads-asian-currencies-bond-yields-ease-as-crude-slips-below-90-markets.md) | -0.6% | +23.8% |
| BRENT | 2026-08-31 | [The dollar in Colombia starts the week soaring: the TRM rises to $3,202.79 after five days of increases \| IBTimes CO](https://feedsoft.ai/events/18168-the-dollar-in-colombia-starts-the-week-soaring-the-trm-rises-to-3-202-79-after.md) | +10.1% | +24.2% |

## Sources

- business-standard.com: https://www.business-standard.com/article/markets/rupee-settles-below-70-after-three-months-crude-oil-slides-further-118112901275_1.html

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