# Speculations may have triggered rupee fall: SBI report

> An SBI Ecowrap report says speculative activity in the foreign exchange market may have triggered the rupee's recent fall, as crude prices rose relentlessly from July. Merchant demand for dollars exceeded supply by $9-14 billion since February, while interbank supply was in surplus.

- Date: 2018-11-28 · published 2018-11-28T12:00:00.000Z
- Category: macro · region India · magnitude low
- Page: https://feedsoft.ai/events/62325-speculations-may-have-triggered-rupee-fall-sbi-report
- Commodities: [Indian Rupee (INR per USD)](https://feedsoft.ai/c/USDINR.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

Speculation layered on top of oil-driven demand for dollars amplified the rupee's slide. Easing crude prices now reduce that pressure, which bears on India's import costs.

## Read by commodity

- BRENT: bearish ▼
- USDINR: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| BRENT | 2020-09-09 | [Second wave of floating storage triggered by ailing oil market \| Financial Post](https://feedsoft.ai/events/10507-second-wave-of-floating-storage-triggered-by-ailing-oil-market-financial-post.md) | +2.3% | +7.2% |
| BRENT | 2020-03-24 | [Feed grain report (March 2020) \| AHDB](https://feedsoft.ai/events/6105-feed-grain-report-march-2020-ahdb.md) | -17.5% | -47.6% |
| 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 | 2024-09-18 | [Oil prices fall as Fed rate cut stirs economic worries, storage report mixed \| Reuters](https://feedsoft.ai/events/28482-oil-prices-fall-as-fed-rate-cut-stirs-economic-worries-storage-report-mixed.md) | +1.5% | -0.2% |
| BRENT | 2022-01-24 | [Oil falls 2% as Fed rate hike talk spooks risk markets](https://feedsoft.ai/events/43049-oil-falls-2-as-fed-rate-hike-talk-spooks-risk-markets.md) | +2.2% | +6.8% |

## Sources

- business-standard.com: https://www.business-standard.com/article/pti-stories/speculations-may-have-triggered-rupee-fall-sbi-report-118112801266_1.html

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