# Post RBI rate cut, rupee hits over 2-yr high; foreign lenders sell dollars | Economy & Policy News - Business Standard

> The Indian rupee rose to 63.59 per dollar, its strongest since July 2015, after the RBI cut its repo rate. Foreign banks sold dollars heavily, and the RBI did not intervene to cap the gains. Traders said the rate cut had limited impact because it was widely expected.

- Date: 2017-08-02 · published 2017-08-02T12:00:00.000Z
- Category: macro · region India · magnitude low
- Page: https://feedsoft.ai/events/69734-post-rbi-rate-cut-rupee-hits-over-2-yr-high-foreign-lenders-sell-dollars
- Commodities: [Indian Rupee (INR per USD)](https://feedsoft.ai/c/USDINR.md)

## Why it matters

A stronger rupee makes Indian imports of feed inputs cheaper but weighs on Indian export competitiveness, including for meal and rice shipments. Currency moves like this can shift Indian demand for imported oilseeds and related commodities.

## Read by commodity

- USDINR: bearish ▼

## Sources

- business-standard.com: https://www.business-standard.com/article/economy-policy/post-rbi-rate-cut-rupee-hits-over-2-yr-high-foreign-lenders-sell-dollars-117080201182_1.html

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