# Rupee closes at new all-time low as crude prices rise

> The Indian rupee closed at a new all-time low against the dollar on September 18, 2018, at 72.975 despite Reserve Bank of India dollar sales of roughly $400-500 million. The fall was attributed to rising crude prices and US-China trade war tensions, and Indian bond yields also rose.

- Date: 2018-09-18 · published 2018-09-18T12:00:00.000Z
- Category: macro · region India · magnitude low
- Page: https://feedsoft.ai/events/63323-rupee-closes-at-new-all-time-low-as-crude-prices-rise
- Commodities: [Indian Rupee (INR per USD)](https://feedsoft.ai/c/USDINR.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

A weaker rupee raises India's cost of imported crude and other inputs, which can curb Indian import demand and feed-related purchases, while also prompting policy tightening that weighs on domestic demand.

## Read by commodity

- WTI: bullish ▲
- USDINR: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2026-05-28 | [Palm Oil Prices Rise As Crude Oil Gains - Finimize](https://feedsoft.ai/events/19380-palm-oil-prices-rise-as-crude-oil-gains-finimize.md) | +8.1% | -20.5% |
| 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 | 2018-05-07 | [Rupee hits 1-year low on FPI outflow, higher crude - Times of India](https://feedsoft.ai/events/65301-rupee-hits-1-year-low-on-fpi-outflow-higher-crude-times-of-india.md) | +1.4% | -7.1% |
| WTI | 2026-04-30 | [Ringgit closes lower on volatile oil prices \| The Star](https://feedsoft.ai/events/19961-ringgit-closes-lower-on-volatile-oil-prices-the-star.md) | -10.8% | -16.4% |
| WTI | 2024-01-30 | [Crude oil prices today: WTI, Brent rise after IMF forecast](https://feedsoft.ai/events/32274-crude-oil-prices-today-wti-brent-rise-after-imf-forecast.md) | -5.2% | +3.1% |

## Sources

- business-standard.com: https://www.business-standard.com/article/reuters/rupee-closes-at-new-all-time-low-as-crude-prices-rise-118091800944_1.html

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