# Rupee slips from 2 week high as crude spurts | Rupee slips from 2 week high as crude spurts

> The rupee ended 3 paise lower at 64.92 per dollar on November 22 after touching a two-week high intraday. Dollar demand from corporates and rising global crude prices, driven by a Canadian pipeline disruption and OPEC cut expectations, weighed on the currency.

- Date: 2017-11-22 · published 2017-11-22T12:00:00.000Z
- Category: macro · region India · magnitude low
- Page: https://feedsoft.ai/events/68261-rupee-slips-from-2-week-high-as-crude-spurts-rupee-slips-from-2-week-high-as
- Commodities: [Indian Rupee (INR per USD)](https://feedsoft.ai/c/USDINR.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

Higher crude prices raise India's import bill and fiscal pressure, which tends to weaken the rupee and make imported vegetable oils and feed inputs more expensive.

## Read by commodity

- WTI: bullish ▲
- USDINR: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2021-09-28 | [Canadian dollar retreats from 3-week high as bond yields climb \| Financial Post](https://feedsoft.ai/events/45281-canadian-dollar-retreats-from-3-week-high-as-bond-yields-climb-financial-post.md) | +2.8% | +11.7% |
| WTI | 2018-05-07 | [Rupee hits 1-year low on FPI outflow, higher crude - Times of India](https://feedsoft.ai/events/65301-rupee-hits-1-year-low-on-fpi-outflow-higher-crude-times-of-india.md) | +1.4% | -7.1% |
| WTI | 2016-12-12 | [Canadian dollar posts fresh seven-week high as oil climbs \| Reuters](https://feedsoft.ai/events/73701-canadian-dollar-posts-fresh-seven-week-high-as-oil-climbs-reuters.md) | +0.8% | -1.3% |
| WTI | 2016-11-17 | [C$ strengthens to a 1-week high as oil climbs](https://feedsoft.ai/events/74055-c-strengthens-to-a-1-week-high-as-oil-climbs.md) | +3.4% | +11.7% |
| WTI | 2017-02-01 | [Oil Rises To 3-Week High as Dollar Slips, OPEC Cuts Output \| Stock News & Stock Market Analysis - IBD](https://feedsoft.ai/events/72672-oil-rises-to-3-week-high-as-dollar-slips-opec-cuts-output-stock-news-and-stock.md) | -1.1% | +2.0% |

## Sources

- deccanchronicle.com: https://www.deccanchronicle.com/business/market/221117/rupee-slips-from-2-week-high-as-crude-spurts.html

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