# Rupee crashes 53 paise against US dollar, hits new all-time low at 70.64 vs USD: 9 things to note - Market News | The Financial Express

> The rupee hit a record low of 70.64 per dollar on August 29 after falling sharply following the RBI's annual report release, and closed at a record 70.59. It is the worst-performing Asian currency in 2018, down about 10.87 percent against the dollar.

- Date: 2018-08-29 · published 2018-08-29T12:00:00.000Z
- Category: macro · region India · magnitude low
- Page: https://feedsoft.ai/events/63799-rupee-crashes-53-paise-against-us-dollar-hits-new-all-time-low-at-70-64-vs-usd
- Commodities: [Indian Rupee (INR per USD)](https://feedsoft.ai/c/USDINR.md)

## Why it matters

Rupee weakness raises India's import costs and can reduce purchasing power for imported vegetable oils and feed ingredients, a modest bearish factor for demand.

## Read by commodity

- USDINR: bullish ▲

## Sources

- financialexpress.com: https://www.financialexpress.com/market/rupee-crashes-53-paise-against-us-dollar-hits-new-all-time-low-at-70-64-vs-usd-9-things-to-note/1296379/

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