The US Dollar Indian Rupee (USD/INR) exchange rate is trading lower on Friday. The pair trades -0.24% at 73.42.
Th economic outlook for India is deteriorating rapidly amid the country’s failure to contain the coronavirus outbreak. Goldman Sachs forecasts that the Indian economy will contract -14.8% in the fiscal year ending March 2021.
The US Dollar is trading lower versus its peers amid rising fears that the economic recovery is stalling. Initial jobless claims remain high at 860,000, only down slightly from the 893,000 recorded the previous week. US consumer confidence data is in focus.
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