# Rupee UP by 22 paise against US dollar

> The Times of India reports that the rupee strengthened 22 paise to 72.38 per dollar on September 27, 2018, after the government raised import duties on 19 items, including jet fuel and air conditioners, to curb the current account deficit. Dollar selling by exporters and banks also supported the currency, and the Federal Reserve had raised rates for the third time that year.

- Date: 2018-10-01 · published 2018-10-01T12:00:00.000Z
- Category: policy · region India · magnitude low
- Page: https://feedsoft.ai/events/63329-rupee-up-by-22-paise-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

Higher Indian import duties aim to curb imports of goods priced in dollars, including energy-linked products, which can reduce India's dollar demand but also dampen import-driven purchases.

## Read by commodity

- WTI: neutral
- USDINR: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2017-08-03 | [OPEC supply-cut compliance runs up against ire over country targets](https://feedsoft.ai/events/69358-opec-supply-cut-compliance-runs-up-against-ire-over-country-targets.md) | -0.0% | -7.3% |
| WTI | 2026-04-06 | [OPEC+ countries agree to raise oil output by 206,000 bpd from May \| ZAWYA](https://feedsoft.ai/events/19609-opec-countries-agree-to-raise-oil-output-by-206-000-bpd-from-may-zawya.md) | -13.2% | -7.5% |
| WTI | 2022-05-06 | [Oil gains 1.5%, posts another weekly rise on supply concerns](https://feedsoft.ai/events/41322-oil-gains-1-5-posts-another-weekly-rise-on-supply-concerns.md) | -1.9% | +9.9% |
| WTI | 2016-11-30 | [CPO Price Picking Up In Riau In The Past 6 Months - ANTARA News Riau](https://feedsoft.ai/events/10935-cpo-price-picking-up-in-riau-in-the-past-6-months-antara-news-riau.md) | +12.5% | +19.3% |
| WTI | 2020-02-06 | [Russia drags its feet on deeper oil output cuts sought by OPEC+ \| Coronavirus pandemic \| Al Jazeera](https://feedsoft.ai/events/54531-russia-drags-its-feet-on-deeper-oil-output-cuts-sought-by-opec-coronavirus.md) | +0.6% | -9.7% |

## Sources

- timesofindia.indiatimes.com: https://timesofindia.indiatimes.com/business/india-business/rupee-up-by-22-paise-against-us-dollar/articleshow/65975456.cms

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