# Rupee starts 2018 at fresh highs against U.S. Dollar - The Hindu

> The rupee closed at a five-month high of 63.68 per dollar on January 1, gaining 19 paise as banks and exporters unwound dollar positions. India's forex reserves rose to a lifetime high of $404.9 billion.

- Date: 2018-01-01 · published 2018-01-01T12:00:00.000Z
- Category: market · region India · magnitude low
- Page: https://feedsoft.ai/events/67258-rupee-starts-2018-at-fresh-highs-against-u-s-dollar-the-hindu
- Commodities: [Indian Rupee (INR per USD)](https://feedsoft.ai/c/USDINR.md)

## Why it matters

Currency strength in India reduces the local cost of imported feed ingredients. The effect on global feed prices is limited.

## Read by commodity

- USDINR: bearish ▼

## Sources

- thehindu.com: https://www.thehindu.com/business/rupee-starts-2018-at-fresh-highs-against-us-dollar/article22347468.ece

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