# Rupee gains past 70 a dollar for first time in 3 months: 5 things to know

> The rupee rose past 70 per dollar for the first time in three months, closing at 69.85 on a third straight daily gain. It is about 6% stronger than its record low of 74.48 hit on October 11, and crude is down nearly a third from its four-year high of $86 a barrel.

- Date: 2018-12-01 · published 2018-12-01T12:00:00.000Z
- Category: macro · region India · magnitude low
- Page: https://feedsoft.ai/events/62320-rupee-gains-past-70-a-dollar-for-first-time-in-3-months-5-things-to-know
- Commodities: [Indian Rupee (INR per USD)](https://feedsoft.ai/c/USDINR.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

The rupee's rebound is driven mainly by falling oil prices on oversupply concerns, which eases India's fiscal and current account pressures. Continued crude weakness would keep the currency supported.

## Read by commodity

- BRENT: bearish ▼
- USDINR: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| 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 | 2018-11-29 | [Rupee closes at 69.85 a dollar after 3 months of weak run in the 70s \| News on Markets - Business Standard](https://feedsoft.ai/events/62319-rupee-closes-at-69-85-a-dollar-after-3-months-of-weak-run-in-the-70s-news-on.md) | +5.8% | -11.2% |
| BRENT | 2020-05-11 | [The oil crash couldn’t have come at a better time for India’s rupee](https://feedsoft.ai/events/53410-the-oil-crash-couldn-t-have-come-at-a-better-time-for-india-s-rupee.md) | +15.8% | +46.8% |
| 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% |
| BRENT | 2020-01-24 | [Rupee down 7 paise to end at 71.33  - The HinduBusinessLine](https://feedsoft.ai/events/55367-rupee-down-7-paise-to-end-at-71-33-the-hindubusinessline.md) | -5.9% | -3.6% |

## Sources

- livemint.com: https://www.livemint.com/Money/T93TICibY8NQFM1UkS1iIJ/USD-INR-rupee-US-dollar-rate-today-1-dollar-rupee.html

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