# Rupee Plunges Most in 11 Months as Risk Off Hits Indian Markets - Bloomberg

> The rupee fell 1.1% to 64.8450 per dollar on May 18, its largest drop since June 2016. The slide followed a global selloff driven by political turmoil in the US and Brazil, and the Sensex also fell.

- Date: 2017-05-18 · published 2017-05-18T12:00:00.000Z
- Category: macro · region India · magnitude low
- Page: https://feedsoft.ai/events/71296-rupee-plunges-most-in-11-months-as-risk-off-hits-indian-markets-bloomberg
- Commodities: [Indian Rupee (INR per USD)](https://feedsoft.ai/c/USDINR.md)

## Why it matters

A weaker rupee raises the local-currency cost of dollar-priced imports, including feed ingredients and oil. Indian buyers may pull back on purchases, which weighs slightly on import demand.

## Read by commodity

- USDINR: bullish ▲

## Sources

- bloomberg.com: https://www.bloomberg.com/news/articles/2017-05-18/rupee-plunges-most-in-11-months-as-risk-off-hits-indian-markets

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