# Rupee tanks to new 5-year low against US dollar: 5 key reasons - Market News | The Financial Express

> The rupee fell to a new five-year low of 68.97 against the dollar in early trade, extending losses after crude prices reversed a fall. Capital outflows and trade tensions between the US and China added to the pressure.

- Date: 2018-07-03 · published 2018-07-03T12:00:00.000Z
- Category: macro · region India · magnitude low
- Page: https://feedsoft.ai/events/64317-rupee-tanks-to-new-5-year-low-against-us-dollar-5-key-reasons-market-news-the
- Commodities: [Indian Rupee (INR per USD)](https://feedsoft.ai/c/USDINR.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

A weaker rupee raises the local cost of dollar-priced feed imports, and rising crude adds to India's import bill. Both factors feed into domestic feed cost inflation.

## Read by commodity

- BRENT: bullish ▲
- USDINR: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| BRENT | 2018-08-01 | [Rupee recovers from 5-year low, up 23 paise at 68.57 against dollar](https://feedsoft.ai/events/64316-rupee-recovers-from-5-year-low-up-23-paise-at-68-57-against-dollar.md) | -1.0% | +2.3% |
| BRENT | 2018-06-28 | [Indian rupee hits record low against US dollar; RBI intervenes - The Business Times](https://feedsoft.ai/events/64797-indian-rupee-hits-record-low-against-us-dollar-rbi-intervenes-the-business-times.md) | +0.7% | -4.0% |
| BRENT | 2023-08-01 | [Rupee falls 31 paise to 82.23 against the US dollar in early trade](https://feedsoft.ai/events/35313-rupee-falls-31-paise-to-82-23-against-the-us-dollar-in-early-trade.md) | +0.6% | -0.6% |
| BRENT | 2018-11-01 | [Rupee closes at fresh record low against dollar](https://feedsoft.ai/events/62809-rupee-closes-at-fresh-record-low-against-dollar.md) | -5.4% | -22.3% |
| BRENT | 2020-02-14 | [Rupee settles 6 paise lower at 71.37 against US dollar  - The Hindu](https://feedsoft.ai/events/54862-rupee-settles-6-paise-lower-at-71-37-against-us-dollar-the-hindu.md) | +5.5% | -43.0% |

## Sources

- preprod.financialexpress.com: https://preprod.financialexpress.com/market/rupee-tanks-to-new-5-year-low-against-us-dollar-5-key-reasons-1229298/

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