# Rupee falls past 67: Why further slide in the unit may not augur well for Narendra Modi govt in election year – Firstpost

> The rupee fell past 67 per dollar as oil prices passed $75 a barrel and Middle East tensions persisted. Rising US bond yields are also drawing capital away from India.

- Date: 2018-05-08 · published 2018-05-08T12:00:00.000Z
- Category: macro · region India · magnitude low
- Page: https://feedsoft.ai/events/65303-rupee-falls-past-67-why-further-slide-in-the-unit-may-not-augur-well-for
- Commodities: [Indian Rupee (INR per USD)](https://feedsoft.ai/c/USDINR.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

India imports about 80% of its crude, so higher oil prices directly widen the trade deficit and raise import costs, weighing on the currency and on demand for dollar-priced imports.

## Read by commodity

- BRENT: bullish ▲
- USDINR: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| 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 | 2018-04-18 | [Why is the Indian rupee at a seven-month low?](https://feedsoft.ai/events/65796-why-is-the-indian-rupee-at-a-seven-month-low.md) | +4.5% | +9.8% |
| BRENT | 2024-04-17 | [How the rupee’s fall can impact the economy and what RBI can do about it \| Mint](https://feedsoft.ai/events/31013-how-the-rupee-s-fall-can-impact-the-economy-and-what-rbi-can-do-about-it-mint.md) | -2.5% | -9.9% |
| BRENT | 2018-07-01 | [Indian rupee breaks 69 vs dollar for first time; down over 8% in 2018](https://feedsoft.ai/events/64796-indian-rupee-breaks-69-vs-dollar-for-first-time-down-over-8-in-2018.md) | -3.1% | -4.9% |
| BRENT | 2017-10-28 | [Brent crude hits high note of $60 - here's why... - News for the Energy Sector](https://feedsoft.ai/events/68634-brent-crude-hits-high-note-of-60-here-s-why-news-for-the-energy-sector.md) | +2.4% | +5.7% |

## Sources

- firstpost.com: https://www.firstpost.com/business/rupee-falls-past-67-why-further-slide-in-the-unit-may-not-augur-well-for-narendra-modi-govt-in-election-year-4460515.html

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