# Rupee hits two month high: Three factors driving the Indian currency - BusinessToday

> The rupee rose 5 paise to 64.10 per dollar in early trade on Monday, reaching a two-month high of 64.08, as the dollar slid in international markets. The currency is up nearly 6 percent this year, supported by strong domestic institutional inflows and a rally in Indian equities.

- Date: 2017-07-31 · published 2017-07-31T12:00:00.000Z
- Category: macro · region India · magnitude low
- Page: https://feedsoft.ai/events/70274-rupee-hits-two-month-high-three-factors-driving-the-indian-currency
- Commodities: [Indian Rupee (INR per USD)](https://feedsoft.ai/c/USDINR.md), [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

Sustained rupee strength reduces the rupee cost of dollar-priced imports, but the market impact on feed commodities is small.

## Read by commodity

- DXY: bearish ▼
- USDINR: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2021-08-30 | [Indian rupee hits 2.5-month high as risk assets rally \| Business News](https://feedsoft.ai/events/45837-indian-rupee-hits-2-5-month-high-as-risk-assets-rally-business-news.md) | -0.7% | +0.4% |
| DXY | 2017-07-27 | [Pound hits 10-month high against dollar after Fed caution – as it happened \| Business \| The Guardian](https://feedsoft.ai/events/70205-pound-hits-10-month-high-against-dollar-after-fed-caution-as-it-happened.md) | -0.6% | -0.5% |
| DXY | 2020-11-26 | [Euro rises to near 3-month high as US dollar falls - The Business Times](https://feedsoft.ai/events/50370-euro-rises-to-near-3-month-high-as-us-dollar-falls-the-business-times.md) | -1.2% | -1.5% |
| DXY | 2019-02-01 | [Rupee hits 5-month high vs US dollar, then erases gains](https://feedsoft.ai/events/61359-rupee-hits-5-month-high-vs-us-dollar-then-erases-gains.md) | +0.8% | +1.0% |
| DXY | 2020-08-06 | [Sterling rises to 5-month high - Markets - Business Recorder](https://feedsoft.ai/events/51867-sterling-rises-to-5-month-high-markets-business-recorder.md) | +0.3% | -0.7% |

## Sources

- businesstoday.in: https://www.businesstoday.in/latest/economy-politics/story/rupee-hits-two-month-high-sensex-nifty-climb-in-an-year-85055-2017-07-31

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