# Rupee slides 26 paise to close below historic 70-mark on trade deficit worries

> The rupee closed below 70 per dollar for the first time on August 16, falling 26 paise to 70.15 after an intraday low of 70.40. The RBI intervened to support the currency amid concerns over a widening trade deficit and surging crude prices.

- Date: 2018-09-01 · published 2018-09-01T12:00:00.000Z
- Category: macro · region India · magnitude low
- Page: https://feedsoft.ai/events/63800-rupee-slides-26-paise-to-close-below-historic-70-mark-on-trade-deficit-worries
- 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 widening trade deficit and rising crude costs increase India's import bill and pressure its currency, which can temper Indian buying of imported commodities.

## Read by commodity

- WTI: bullish ▲
- USDINR: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| 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 | 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 | 2021-10-15 | [Oil prices rise to three-year high on back of supply deficit forecasts](https://feedsoft.ai/events/44716-oil-prices-rise-to-three-year-high-on-back-of-supply-deficit-forecasts.md) | +1.5% | +0.1% |
| WTI | 2017-11-30 | [Rupee falters on fiscal deficit, oil concerns; down 15 paise \| India.com](https://feedsoft.ai/events/68264-rupee-falters-on-fiscal-deficit-oil-concerns-down-15-paise-india-com.md) | -2.5% | +4.5% |
| WTI | 2019-03-01 | [Rupee drops 20 paise to 70.92 vs USD amid weak GDP, rising crude](https://feedsoft.ai/events/60390-rupee-drops-20-paise-to-70-92-vs-usd-amid-weak-gdp-rising-crude.md) | -1.0% | +3.6% |

## Sources

- timesofindia.indiatimes.com: https://timesofindia.indiatimes.com/business/india-business/rupee-closes-below-70-mark-first-time-in-history/articleshow/65427878.cms

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