# Rupee surrenders gains on strong dollar demand; down 11 paise

> The rupee fell 11 paise to close at 65.32 per dollar on November 16 on dollar demand from importers and banks. Traders pointed to US inflation and retail data that raised expectations of a Federal Reserve rate hike by year-end, which could trigger capital outflows from India.

- Date: 2017-11-16 · published 2017-11-16T12:00:00.000Z
- Category: macro · region India · magnitude low
- Page: https://feedsoft.ai/events/68263-rupee-surrenders-gains-on-strong-dollar-demand-down-11-paise
- Commodities: [Indian Rupee (INR per USD)](https://feedsoft.ai/c/USDINR.md), [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

Expectations of Fed tightening strengthen the dollar and raise import costs for India, which is a modest factor for dollar-priced feed and vegetable oil imports.

## Read by commodity

- DXY: bullish ▲
- USDINR: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2016-08-31 | [Strong dollar remains anchor on prices](https://feedsoft.ai/events/12399-strong-dollar-remains-anchor-on-prices.md) | -1.2% | +0.3% |
| DXY | 2019-03-01 | [Rupee opens 3 paise down at 70.77 against dollar - The Economic Times](https://feedsoft.ai/events/60392-rupee-opens-3-paise-down-at-70-77-against-dollar-the-economic-times.md) | +1.1% | +0.9% |
| DXY | 2022-08-22 | [Commodity prices down on rising dollar demand](https://feedsoft.ai/events/39941-commodity-prices-down-on-rising-dollar-demand.md) | +0.0% | +1.6% |
| DXY | 2020-09-23 | [Currencies slip as dollar gains on safe-haven demand, rand drops 1% \| Financial Post](https://feedsoft.ai/events/51393-currencies-slip-as-dollar-gains-on-safe-haven-demand-rand-drops-1-financial-post.md) | +0.8% | -1.4% |
| DXY | 2024-04-18 | [US dollar gains after strong data, Fed comments on rate cuts](https://feedsoft.ai/events/12555-us-dollar-gains-after-strong-data-fed-comments-on-rate-cuts.md) | -0.1% | -1.4% |

## Sources

- business-standard.com: https://www.business-standard.com/article/pti-stories/rupee-surrenders-gains-on-strong-dollar-demand-down-11-paise-117111601426_1.html

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