# Indian rupee at fresh record low, breaches 71 for the first time

> The Indian rupee breached 71 per dollar for the first time on Friday, August 31, opening at a record low of 70.95. Dollar demand from importers, oil marketing companies and defence buyers, along with higher crude prices, drove the decline.

- Date: 2018-09-01 · published 2018-09-01T12:00:00.000Z
- Category: macro · region India · magnitude low
- Page: https://feedsoft.ai/events/63801-indian-rupee-at-fresh-record-low-breaches-71-for-the-first-time
- Commodities: [Indian Rupee (INR per USD)](https://feedsoft.ai/c/USDINR.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

Rising crude prices and a weaker rupee raise India's import costs, which can curb demand for imported commodities and reflect pressure on emerging-market currencies.

## 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 | 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 | 2026-03-30 | [Indian Rupee gives up RBI-linked gains, slides back to all-time lows against US Dollar](https://feedsoft.ai/events/20454-indian-rupee-gives-up-rbi-linked-gains-slides-back-to-all-time-lows-against-us.md) | +12.7% | -2.0% |
| WTI | 2022-06-28 | [Rupee Rate Today: Rupee at record lows, but RBI intervention slows slide, ETCFO](https://feedsoft.ai/events/41213-rupee-rate-today-rupee-at-record-lows-but-rbi-intervention-slows-slide-etcfo.md) | -9.0% | -12.6% |
| 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% |

## Sources

- moneycontrol.com: https://www.moneycontrol.com/news/business/markets/indian-rupee-at-fresh-record-low-breaches-71-for-the-first-time-2901061.html

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