# Rupee closes at 64.46 over concerns on fiscal deficit, oil supply cut | Money & Forex Markets - Business Standard

> The Indian rupee closed at 64.46 per dollar on November 30, reversing a three-day rally after falling 15 paise. Concerns over India's fiscal deficit, which reached 96.1% of the budget estimate by end-October, and a possible extension of OPEC crude output cuts weighed on the currency.

- Date: 2017-11-30 · published 2017-11-30T12:00:00.000Z
- Category: macro · region India · magnitude low
- Page: https://feedsoft.ai/events/68257-rupee-closes-at-64-46-over-concerns-on-fiscal-deficit-oil-supply-cut-money-and
- Commodities: [Indian Rupee (INR per USD)](https://feedsoft.ai/c/USDINR.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

A weaker rupee raises India's cost of imported crude and edible oils, which can dampen Indian import demand for vegetable oils and feed-related commodities while crude strength lifts feed input costs.

## Read by commodity

- WTI: bullish ▲
- USDINR: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2022-01-28 | [India's high foreign exchange reserves not enough to shield rupee \| Money & Forex Markets - Business Standard](https://feedsoft.ai/events/43418-india-s-high-foreign-exchange-reserves-not-enough-to-shield-rupee-money-and.md) | +3.4% | +5.0% |
| WTI | 2017-11-30 | [Rupee falters on fiscal deficit, oil concerns; down 15 paise \| India.com](https://feedsoft.ai/events/68264-rupee-falters-on-fiscal-deficit-oil-concerns-down-15-paise-india-com.md) | -2.5% | +4.5% |
| WTI | 2022-07-01 | [Palm oil falls 4% on recession fears, higher supply outlook - Markets - Business Recorder](https://feedsoft.ai/events/6225-palm-oil-falls-4-on-recession-fears-higher-supply-outlook-markets-business.md) | -0.9% | -6.2% |
| WTI | 2023-04-17 | [Indian rupee declines as dollar jumps on Fed policy reassessment - Markets - Business Recorder](https://feedsoft.ai/events/36659-indian-rupee-declines-as-dollar-jumps-on-fed-policy-reassessment-markets.md) | -5.7% | -15.2% |
| WTI | 2021-10-15 | [Oil prices rise to three-year high on back of supply deficit forecasts](https://feedsoft.ai/events/44716-oil-prices-rise-to-three-year-high-on-back-of-supply-deficit-forecasts.md) | +1.5% | +0.1% |

## Sources

- business-standard.com: https://www.business-standard.com/article/economy-policy/rupee-closes-at-64-46-over-concerns-on-fiscal-deficit-oil-supply-cut-117113001057_1.html

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