# Viewpoint: What can stop India's rupee plunge? - BBC News

> A BBC viewpoint piece explains that the Indian rupee hit a record low of 72.7 per dollar on September 11, 2018, down more than 11% in about six months. Drivers cited include higher oil import costs, since India imports over 80% of its oil, and foreign investors pulling money out ahead of expected US rate rises.

- Date: 2018-09-13 · published 2018-09-13T12:00:00.000Z
- Category: macro · region India · magnitude low
- Page: https://feedsoft.ai/events/63324-viewpoint-what-can-stop-india-s-rupee-plunge-bbc-news
- Commodities: [Indian Rupee (INR per USD)](https://feedsoft.ai/c/USDINR.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

Persistent rupee weakness raises the cost of imported energy and makes Indian buyers of dollar-priced commodities, including feed ingredients, more expensive to supply, which can dampen import demand.

## Read by commodity

- WTI: bullish ▲
- USDINR: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2018-08-31 | [Rupee plunges to historic low of 71  \| Business News - The Indian Express](https://feedsoft.ai/events/63796-rupee-plunges-to-historic-low-of-71-business-news-the-indian-express.md) | -3.6% | +4.2% |
| WTI | 2024-04-17 | [How the rupee’s fall can impact the economy and what RBI can do about it \| Mint](https://feedsoft.ai/events/31013-how-the-rupee-s-fall-can-impact-the-economy-and-what-rbi-can-do-about-it-mint.md) | -2.3% | -7.9% |
| WTI | 2022-05-17 | [Indian rupee off record lows on RBI intervention; bond yields rise](https://feedsoft.ai/events/41686-indian-rupee-off-record-lows-on-rbi-intervention-bond-yields-rise.md) | -3.3% | +4.2% |
| WTI | 2022-01-28 | [India's high foreign exchange reserves not enough to shield rupee \| Money & Forex Markets - Business Standard](https://feedsoft.ai/events/43418-india-s-high-foreign-exchange-reserves-not-enough-to-shield-rupee-money-and.md) | +3.4% | +5.0% |
| WTI | 2018-07-12 | [Rescuing the rupee: A peek into the RBI's arsenal](https://feedsoft.ai/events/64314-rescuing-the-rupee-a-peek-into-the-rbi-s-arsenal.md) | -2.4% | -5.0% |

## Sources

- bbc.co.uk: https://www.bbc.co.uk/news/world-asia-india-45492856

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