# Rupee dips further, hits new record closing low of 74.39 against US dollar

> The rupee closed at a record low of 74.39 per dollar on October 9, after breaching 74 for the first time the previous day. The fall was attributed to crude oil above $84, strong dollar demand from importers and foreign fund outflows.

- Date: 2018-11-01 · published 2018-11-01T12:00:00.000Z
- Category: macro · region India · magnitude low
- Page: https://feedsoft.ai/events/62813-rupee-dips-further-hits-new-record-closing-low-of-74-39-against-us-dollar
- Commodities: [Indian Rupee (INR per USD)](https://feedsoft.ai/c/USDINR.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

Currency weakness combined with high crude prices raises India's import costs and can curb purchases of US and Brazilian feed commodities. The effect is bearish for Indian demand at the margin.

## Read by commodity

- WTI: bullish ▲
- USDINR: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2018-07-05 | [Rupee All Time Low: Rupee Slumps To All-Time Closing Low Against U.S. Dollar](https://feedsoft.ai/events/64318-rupee-all-time-low-rupee-slumps-to-all-time-closing-low-against-u-s-dollar.md) | -5.0% | -7.8% |
| WTI | 2025-02-01 | [Stock market today: Rupee crashes 32 paise to hit record low of 86.36 against U.S. dollar in early trade](https://feedsoft.ai/events/26787-stock-market-today-rupee-crashes-32-paise-to-hit-record-low-of-86-36-against-u.md) | -2.1% | -5.8% |
| WTI | 2022-07-19 | [Indian Rupee Hits Weakest Level Ever Against the Dollar](https://feedsoft.ai/events/40777-indian-rupee-hits-weakest-level-ever-against-the-dollar.md) | -4.9% | -12.1% |
| WTI | 2023-07-26 | [Rupee falls 13 paise to close at 82.01 against US dollar](https://feedsoft.ai/events/35320-rupee-falls-13-paise-to-close-at-82-01-against-us-dollar.md) | +2.1% | +0.7% |
| WTI | 2019-10-31 | [Rupee rises 9 paise against US dollar after Fed rate cut  - The Hindu](https://feedsoft.ai/events/56841-rupee-rises-9-paise-against-us-dollar-after-fed-rate-cut-the-hindu.md) | +2.4% | +5.8% |

## Sources

- timesofindia.indiatimes.com: https://timesofindia.indiatimes.com/business/india-business/rupee-dips-further-hits-new-record-closing-of-74-39-against-us-dollar/articleshow/66135500.cms

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