# Indian rupee rises 8 paise to 70.79 against US dollar on easing trade worries

> The Indian rupee recovered 8 paise to close at 70.79 per dollar on November 27, after the Chinese foreign ministry described a mutually beneficial agreement between Trump and Xi. The currency had hit an intraday low of 71.02 before paring losses.

- Date: 2018-12-01 · published 2018-12-01T12:00:00.000Z
- Category: macro · region India · magnitude low
- Page: https://feedsoft.ai/events/62323-indian-rupee-rises-8-paise-to-70-79-against-us-dollar-on-easing-trade-worries
- Commodities: [Indian Rupee (INR per USD)](https://feedsoft.ai/c/USDINR.md)

## Why it matters

Easing US-China trade tensions and softer crude prices support the rupee by lifting risk appetite and exporter dollar selling. Lower oil also reduces India's import bill.

## Read by commodity

- USDINR: bearish ▼

## Sources

- timesofindia.indiatimes.com: https://timesofindia.indiatimes.com/business/india-business/indian-rupee-rises-8-paise-to-70-79-against-us-dollar-on-easing-trade-worries/articleshow/66829277.cms

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