# Indian Rupee Falls Over half a Percent After Federal Budget Speech

> The rupee weakened about 0.33% to 63.86 per dollar after the Indian budget was presented, with the government targeting a 2018-19 fiscal deficit of 3.3% of GDP. Higher taxes on capital gains and mutual fund income were introduced.

- Date: 2018-01-31 · published 2018-01-31T12:00:00.000Z
- Category: policy · region India · magnitude low
- Page: https://feedsoft.ai/events/67261-indian-rupee-falls-over-half-a-percent-after-federal-budget-speech
- Commodities: [Indian Rupee (INR per USD)](https://feedsoft.ai/c/USDINR.md)

## Why it matters

A wider budget deficit combined with rising oil imports raises the risk of rupee weakness. The currency move has limited direct impact on global feed prices.

## Read by commodity

- USDINR: bullish ▲

## Sources

- poundsterlinglive.com: https://www.poundsterlinglive.com/inr/8427-the-impact-on-the-rupee-of-the-indian-federal-budget

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