# Rupee closes higher against US dollar

> The rupee closed at 68.85 on Friday, recovering from an all-time low of 69.13 reached earlier that day. The rebound followed RBI intervention through state banks, after China weakened its yuan fixing by the most since 2016.

- Date: 2018-08-01 · published 2018-08-01T12:00:00.000Z
- Category: macro · region India · magnitude low
- Page: https://feedsoft.ai/events/64319-rupee-closes-higher-against-us-dollar
- Commodities: [Indian Rupee (INR per USD)](https://feedsoft.ai/c/USDINR.md), [Chinese Yuan (CNY per USD)](https://feedsoft.ai/c/USDCNY.md)

## Why it matters

Yuan weakness spilling into Asian currencies raises the dollar cost of feed imports across the region. The RBI support limits near-term rupee downside for Indian importers.

## Read by commodity

- USDCNY: bullish ▲
- USDINR: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| USDCNY | 2022-09-28 | [Chinese yuan: Currency hits record lows against US dollar - BBC News](https://feedsoft.ai/events/7208-chinese-yuan-currency-hits-record-lows-against-us-dollar-bbc-news.md) | -0.9% | -0.1% |
| USDCNY | 2022-09-29 | [CNY/USD: Why China’s Yuan Hit Record Lows Against the Dollar - Bloomberg](https://feedsoft.ai/events/7207-cny-usd-why-china-s-yuan-hit-record-lows-against-the-dollar-bloomberg.md) | -1.2% | +0.3% |
| USDCNY | 2023-05-31 | [Dollar higher - Business & Finance - Business Recorder](https://feedsoft.ai/events/36152-dollar-higher-business-and-finance-business-recorder.md) | +0.6% | +2.3% |
| USDCNY | 2026-06-29 | [Chinese Yuan: China slowdown weighs on CNY against US Dollar – Commerzbank](https://feedsoft.ai/events/19039-chinese-yuan-china-slowdown-weighs-on-cny-against-us-dollar-commerzbank.md) | -0.0% | -0.5% |
| USDCNY | 2024-10-29 | [Dollar peaks against yen ahead of US election and economic data \| Reuters](https://feedsoft.ai/events/28079-dollar-peaks-against-yen-ahead-of-us-election-and-economic-data-reuters.md) | -0.4% | +1.8% |

## Sources

- livemint.com: https://www.livemint.com/Money/xXre0LfrRGuicEu0yRLBAI/Rupee-plunges-to-record-low-as-yuan-slides.html

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