{"id":105339,"date":"2020-09-28T12:07:37","date_gmt":"2020-09-28T11:07:37","guid":{"rendered":"https:\/\/currencylive.com\/news\/?p=105339"},"modified":"2020-09-28T12:59:38","modified_gmt":"2020-09-28T11:59:38","slug":"104475-usd-inr-indian-rupee-steady-ahead-of-rbi-rate-decision","status":"publish","type":"post","link":"https:\/\/currencylive.com\/news\/104475-usd-inr-indian-rupee-steady-ahead-of-rbi-rate-decision\/","title":{"rendered":"USD\/INR: Indian Rupee Steady Ahead of RBI Rate Decision"},"content":{"rendered":"<ul>\n<li><strong><a href=\"https:\/\/currencylive.com\/exchange-rate\/inr-indian-rupee-live-exchange-rate\/\">Indian Rupee<\/a> (INR) treads water, Reserve Bank of India expected keep rates unchanged<\/strong><\/li>\n<li><strong>RBI expected to provide guidance for the first time since February<\/strong><\/li>\n<li><strong><a href=\"https:\/\/currencylive.com\/exchange-rate\/usd-us-dollar-live-exchange-rate\/\">US Dollar<\/a> (USD) eases back on an improved mood in the market<\/strong><\/li>\n<li><strong>Attention turns to tomorrow\u2019s Trump \u2013 Biden live TV debate<\/strong><\/li>\n<\/ul>\n<p>The US Dollar Indian Rupee (<a href=\"https:\/\/currencylive.com\/exchange-rate\/usd-to-inr-exchange-rate-today\/\">USD\/INR<\/a>) exchange rate is trading flat as the new week kicks off, after finishing the previous week in the same way. The pair made no gains or losses on a weekly basis last week, closing on Friday at 73.68, roughly the same level that it had started the week at. At 10:15 UTC, USD\/INR trades just a few pips lower at 73.66, in the middle of the daily traded range.<\/p>\n<p>The Reserve Bank of India is expected to keep rates on hold at its upcoming policy meeting which is scheduled to take place 29<sup>th<\/sup> September \u2013 1<sup>st<\/sup> October. However, it will provide guidance on the state of the economy and its performance amid the coronavirus pandemic. This will be the first time that for the first time since February that the central bank has provided guidance.<\/p>\n<p>A Reuters poll of 66 analysts showed that all expect the repo rate to remain unchanged at 4%. The majority of analysts do not expect to see a rate cut until the January \u2013 March quarter, with the RBI likely to stay on hold until the end of 2021.<\/p>\n<p>The RBI has so far slashed rates by 115 basis points since the start of the pandemic, as the economy contracted 23.9% last quarter, the worst performance on record.<\/p>\n<p>The US Dollar is trending lower versus its peers amid an improved mood in the market. Optimism is growing that US lawmakers could agree a new fiscal stimulus deal prior to the US elections. US treasury Secretary Steve Mnuchin and House Speaker Nancy Pelosi agreed to restart formal discussions for a new fiscal stimulus package.<\/p>\n<p>Recent data has indicated that the US economic recovery is starting to slow considerably. Additional stimulus could help keep the recovery chugging along.<\/p>\n<p>Attention will now turn to the first US Trump \u2013 Biden live debate, due tomorrow.<\/p>\n<div class=\"su-box su-box-style-default\" id=\"\" style=\"border-color:#000061;border-radius:3px;max-width:none\"><div class=\"su-box-title\" style=\"background-color:#071894;color:#FFFFFF;border-top-left-radius:1px;border-top-right-radius:1px\">USD Index Today - last 180 days<\/div><div class=\"su-box-content su-u-clearfix su-u-trim\" style=\"border-bottom-left-radius:1px;border-bottom-right-radius:1px\">\n<img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/currencylive.com\/news\/wp-content\/uploads\/2020\/09\/7d49bfec36977b2a0df975c38246c9fa.png\" alt=\"\" width=\"800\" height=\"348\" class=\"aligncenter size-full wp-image-105353\" srcset=\"https:\/\/currencylive.com\/news\/wp-content\/uploads\/2020\/09\/7d49bfec36977b2a0df975c38246c9fa.png 800w, https:\/\/currencylive.com\/news\/wp-content\/uploads\/2020\/09\/7d49bfec36977b2a0df975c38246c9fa-300x131.png 300w, https:\/\/currencylive.com\/news\/wp-content\/uploads\/2020\/09\/7d49bfec36977b2a0df975c38246c9fa-768x334.png 768w, https:\/\/currencylive.com\/news\/wp-content\/uploads\/2020\/09\/7d49bfec36977b2a0df975c38246c9fa-696x303.png 696w\" sizes=\"auto, (max-width: 800px) 100vw, 800px\" \/><\/p>\n<div style=\"font-size: 75%; line-height: 1.5;\"><div class=\"su-expand su-expand-collapsed su-expand-link-style-default no-margin\" data-height=\"0\"><div class=\"su-expand-content su-u-trim\" style=\"color:#333333;max-height:0px;overflow:hidden\">Currency Index charts show the <strong>strength of a single currency<\/strong> based on a basket of foreign currencies. This is done using a weighted mean (an average) of the 5 largest routes from that source currency and their daily FX rates. You can explore <a style=\"color:#0088FF\" href=\"\/exchange-rate\/\">live exchange rates here<\/a>.<\/div><div class=\"su-expand-link su-expand-link-more\" style=\"text-align:center\"><a href=\"javascript:;\" style=\"color:#0088FF;border-color:#0088FF\"><span style=\"border-color:#0088FF\">What does this show? <\/span><\/a><\/div><div class=\"su-expand-link su-expand-link-less\" style=\"text-align:center\"><a href=\"javascript:;\" style=\"color:#0088FF;border-color:#0088FF\"><span style=\"border-color:#0088FF\">Show less<\/span><\/a><\/div><\/div><\/div>\n<\/div><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Indian Rupee (INR) treads water, Reserve Bank of India expected keep rates unchanged RBI expected to provide guidance for the first time since February US Dollar (USD) eases back on an improved mood in the market Attention turns to tomorrow\u2019s Trump \u2013 Biden live TV debate The US Dollar Indian Rupee (USD\/INR) exchange rate is [&hellip;]<\/p>\n","protected":false},"author":163946597,"featured_media":80615,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1693,1381],"tags":[1655,1666,1946,1400,1397,1398],"class_list":["post-105339","post","type-post","status-publish","format-standard","has-post-thumbnail","category-inr","category-usd","tag-indian-rupee","tag-inr","tag-rbi","tag-trump","tag-us-dollar","tag-usd"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.0 - 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