{"id":106329,"date":"2020-11-03T12:14:48","date_gmt":"2020-11-03T12:14:48","guid":{"rendered":"https:\/\/currencylive.com\/news\/?p=106329"},"modified":"2020-11-03T12:14:48","modified_gmt":"2020-11-03T12:14:48","slug":"104714-usd-inr-rupee-strengthens-as-nifty-50-jumps","status":"publish","type":"post","link":"https:\/\/currencylive.com\/news\/104714-usd-inr-rupee-strengthens-as-nifty-50-jumps\/","title":{"rendered":"USD\/INR: Rupee Strengthens As Nifty 50 Jumps"},"content":{"rendered":"<ul>\n<li><strong><a href=\"https:\/\/currencylive.com\/exchange-rate\/inr-indian-rupee-live-exchange-rate\/\">Indian Rupee<\/a> (INR) tracks gains in domestic equities<\/strong><\/li>\n<li><strong>Oil heads lower on demand concerns<\/strong><\/li>\n<li><strong><a href=\"https:\/\/currencylive.com\/exchange-rate\/usd-us-dollar-live-exchange-rate\/\">US Dollar<\/a> (USD) eases as investors look ahead to the US election<\/strong><\/li>\n<li><strong>A Blue Wave could drag on the US Dollar<\/strong><\/li>\n<\/ul>\n<p>The US Dollar Indian Rupee (<a href=\"https:\/\/currencylive.com\/exchange-rate\/\">USD\/INR<\/a>) exchange rate is extending losses on Tuesday. The pair settled mildly lower -0.06% on Monday at 74.51 snapping a three-day winning streak. At 11:15 UTC, USD\/INR trades -0.1% at 74.39.<\/p>\n<p>The Indian Rupee is tracking domestic equity market higher, whilst weaker oil prices also offer support.<\/p>\n<p>Indian shares ended the day higher on Tuesday as banks and financial stocks extended their gains for a second straight session and sentiment remained firm after factory output data showed signs of recovering. The Nifty 50 closed 1.2% higher led by the banking index which jumped 3.1%, with HDFC, surging 3.9% on strong earnings.<\/p>\n<p>Yesterday\u2019s upbeat factory output data also added to the upbeat mood, with signs of demand recovering after the strict lockdown.<\/p>\n<p>The price of oil is trending lower as more countries tighten lockdown restrictions the demand outlook is deteriorating rapidly. Furthermore, production in Libya is picking up rapidly.<\/p>\n<p>A broad upbeat mood in the market is also offering support to the riskier Indian Rupee, whilst investors pull funds out of the safe haven US Dollar.<\/p>\n<p>Investors full attention will now turn to the US elections with high volatility expected as the results start rolling in later.<\/p>\n<p>Former Vice President &amp; Democrat Joe Biden has been around 7 points ahead in the national polls for some weeks. However, the race is significantly tighter in key swing states and these are the states which decide the election.<\/p>\n<p>If Joe Biden wins the keys to the White House, investors will be looking closely to see what happens in the Senate. Currently the Republicans hold a majority in the Senate. Should the Democrats win a \u201cblue wave\u201d and take control of the Senate, as well as having control of the House of Representatives, the chances of a huge stimulus package are greatly increased, which could pull the US Dollar lower.<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Indian Rupee (INR) tracks gains in domestic equities Oil heads lower on demand concerns US Dollar (USD) eases as investors look ahead to the US election A Blue Wave could drag on the US Dollar The US Dollar Indian Rupee (USD\/INR) exchange rate is extending losses on Tuesday. The pair settled mildly lower -0.06% on [&hellip;]<\/p>\n","protected":false},"author":163946597,"featured_media":82472,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1693,1381],"tags":[1389,1655,1666,1720,1400,1397,1398],"class_list":{"0":"post-106329","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-inr","8":"category-usd","9":"tag-elections","10":"tag-indian-rupee","11":"tag-inr","12":"tag-nifty-50","13":"tag-trump","14":"tag-us-dollar","15":"tag-usd"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.6 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>USD\/INR: Rupee Strengthens As Nifty 50 Jumps - Currency Live<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/currencylive.com\/news\/104714-usd-inr-rupee-strengthens-as-nifty-50-jumps\/\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Fiona Cincotta\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/104714-usd-inr-rupee-strengthens-as-nifty-50-jumps\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/104714-usd-inr-rupee-strengthens-as-nifty-50-jumps\\\/\"},\"author\":{\"name\":\"Fiona Cincotta\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#\\\/schema\\\/person\\\/8ef0fafb6c93f1204150bb907b42cfec\"},\"headline\":\"USD\\\/INR: Rupee Strengthens As Nifty 50 Jumps\",\"datePublished\":\"2020-11-03T12:14:48+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/104714-usd-inr-rupee-strengthens-as-nifty-50-jumps\\\/\"},\"wordCount\":349,\"image\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/104714-usd-inr-rupee-strengthens-as-nifty-50-jumps\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/currencylive.com\\\/news\\\/wp-content\\\/uploads\\\/2019\\\/11\\\/usd-inr-forex-exchage-rates.jpg\",\"keywords\":[\"Elections\",\"indian rupee\",\"inr\",\"NIFTY 50\",\"trump\",\"us dollar\",\"usd\"],\"articleSection\":[\"INR\",\"USD\"],\"inLanguage\":\"en-US\",\"copyrightYear\":\"2020\",\"copyrightHolder\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/104714-usd-inr-rupee-strengthens-as-nifty-50-jumps\\\/\",\"url\":\"https:\\\/\\\/currencylive.com\\\/news\\\/104714-usd-inr-rupee-strengthens-as-nifty-50-jumps\\\/\",\"name\":\"USD\\\/INR: Rupee Strengthens As Nifty 50 Jumps - 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