{"id":100542,"date":"2020-05-27T07:21:38","date_gmt":"2020-05-27T11:21:38","guid":{"rendered":"https:\/\/currencylive.com\/news\/?p=100542"},"modified":"2020-05-27T08:10:04","modified_gmt":"2020-05-27T12:10:04","slug":"103289-usd-inr-india-rupee-under-pressure-on-gdp-downgrades","status":"publish","type":"post","link":"https:\/\/currencylive.com\/news\/103289-usd-inr-india-rupee-under-pressure-on-gdp-downgrades\/","title":{"rendered":"USD\/INR: India Rupee Under Pressure On GDP Downgrades"},"content":{"rendered":"<ul>\n<li><strong><a href=\"https:\/\/currencylive.com\/exchange-rate\/inr-indian-rupee-live-exchange-rate\/\">Indian Rupee<\/a> (INR) declines after State Bank of India Research predicts -40% GDP in Q1<\/strong><\/li>\n<li><strong>Fitch downgrades FY21 GDP outlook to -5% v +0.8% growth previously<\/strong><\/li>\n<li><strong>US Dollar (USD) lifts on safe haven flows as US \u2013 Sino tensions rise over Hong Kong<\/strong><\/li>\n<li><strong>At 11:15 UTC, USD\/INR is trading +0.2% at 75.60 &gt;&gt; <a href=\"https:\/\/currencylive.com\/exchange-rate\/usd-to-inr-exchange-rate-today\/\">Real time exchange rates<\/a><\/strong><\/li>\n<\/ul>\n<p>After two consecutive days of gains, the Indian Rupee is moving lower versus the US Dollar on Wednesday. The Rupee settled in the previous session +0.5% at 75.45, slightly down from its four day high of 75.40 reached earlier in the session.<\/p>\n<p>Today, at 11:15 UTC, <a href=\"https:\/\/currencylive.com\/exchange-rate\/usd-to-inr-exchange-rate-today\/\">USD\/INR<\/a> is trading +0.2% at 75.60. This is approximately mid-way between the daily traded range of 75.45 \u2013 75.76 amid concerns over the impact of the coronavirus crisis on the Indian economy and cooling US &#8211; China relations.<\/p>\n<div class=\"su-button-center\"><a href=\"https:\/\/currencylive.com\/exchange-rate\/usd-to-inr-exchange-rate-today\/\" class=\"su-button su-button-style-flat button-internalbutton\" style=\"color:#ffffff;background-color:#f92658;border-color:#c81f47;border-radius:5px\" target=\"_self\"><span style=\"color:#ffffff;padding:0px 22px;font-size:17px;line-height:34px;border-color:#fb688b;border-radius:5px;text-shadow:none\"> Check real time USD to INR exchange rate<\/span><\/a><\/div>\n<p>The Indian economy faces a huge loss in the June quarter, potentially as large as 40%, acording to the State Bank of India (SBI) Research. A contraction of -6.8% is expected in the fiscal year FY21 after a recovery in the second quarter, with growth of 7% and \u201cmuch better\u201d growth numbers in the third and fourth quarters.<\/p>\n<p>Meanwhile, domestic rating agency Crisil, said yesterday that they expect a first quarter contraction of -25%, in India\u2019s worst even recession. Crisil forecasts a -5% GDP contraction in FY21. International rating agency Fitch also downgraded its GDP forecast for India to -5%, compared to an earlier prediction of +0.8% growth.<\/p>\n<p>The downbeat outlook for the Indian economy weighed on demand for the Rupee, as did broad risk off sentiment in the forex markets.<\/p>\n<p>Risk off trading boosted demand for the safe haven US Dollar. US \u2013 Chinese relations continued to sour as China looks to move ahead with imposing a security law on Hong Kong, restricting liberties in the financial hub. President Trump has warned that a response and sanctions against Chinese officials, businesses and financial institutions are being prepared.<\/p>\n<p>Global growth is already in the doldrums. The fear is that rising tensions between the two largest economies could hamper the post-coronavirus economic recovery.<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Indian Rupee (INR) declines after State Bank of India Research predicts -40% GDP in Q1 Fitch downgrades FY21 GDP outlook to -5% v +0.8% growth previously US Dollar (USD) lifts on safe haven flows as US \u2013 Sino tensions rise over Hong Kong At 11:15 UTC, USD\/INR is trading +0.2% at 75.60 &gt;&gt; Real time [&hellip;]<\/p>\n","protected":false},"author":163946597,"featured_media":47178,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1693,1381],"tags":[2579,1409,1487,1655,1666,1828,1397,1398],"class_list":{"0":"post-100542","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-inr","8":"category-usd","9":"tag-fitch","10":"tag-gdp","11":"tag-hong-kong","12":"tag-indian-rupee","13":"tag-inr","14":"tag-sbi","15":"tag-us-dollar","16":"tag-usd"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.6 - 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