{"id":107237,"date":"2020-12-15T12:00:25","date_gmt":"2020-12-15T12:00:25","guid":{"rendered":"https:\/\/currencylive.com\/news\/?p=107237"},"modified":"2020-12-15T20:03:06","modified_gmt":"2020-12-15T20:03:06","slug":"105045-usd-inr-indian-rupee-supported-by-us-dollar-weakness","status":"publish","type":"post","link":"https:\/\/currencylive.com\/news\/105045-usd-inr-indian-rupee-supported-by-us-dollar-weakness\/","title":{"rendered":"USD\/INR: Indian Rupee Supported by US Dollar Weakness"},"content":{"rendered":"<ul>\n<li><strong><a href=\"https:\/\/currencylive.com\/exchange-rate\/inr-indian-rupee-live-exchange-rate\/\">Indian Rupee<\/a> (INR) boosted by upbeat domestic data<\/strong><\/li>\n<li><strong>IIP +3.6% in October, retail inflation 6.9%<\/strong><\/li>\n<li><strong><a href=\"https:\/\/currencylive.com\/exchange-rate\/usd-us-dollar-live-exchange-rate\/\">US Dollar<\/a> (USD) eases on risk outflows<\/strong><\/li>\n<li><strong>News on US fiscal stimulus awaited<\/strong><\/li>\n<\/ul>\n<p>The US Dollar Indian Rupee (<a href=\"https:\/\/currencylive.com\/\">USD\/INR<\/a>) exchange rate is edging lower on Tuesday, extending losses for a second day. The pair settled on Monday -0.14% at 73.63. At 10:15 UTC, USD\/INR trades -0.07% at 73.57, towards the low of the day.<\/p>\n<p>Upbeat domestic data and the improving mood in the market is keeping the Indian Rupee buoyant. India\u2019s index of industrial production (IIP) grew 3.6% in October, whilst retail inflation declined to 6.93% in November on softer food prices.<\/p>\n<p>Despite a shaky start risk sentiment is picking up as investors battle covid vaccine optimism against surging covid cases and tighter lockdown restrictions, particularly in Europe and the US.<\/p>\n<p>India reported 22,065 new daily covid infections over the past 24 hours, taking the total to 9.9 million. However, this was the lowest daily rise since July 4<sup>th<\/sup> in a promising sign that the peak has passed.<\/p>\n<p>The mildly upbeat mood means investors are seeking out riskier assets and currencies such as the Indian Rupee and equities, whilst selling out of the safe haven US Dollar. US futures are pointing to a stronger start on Wall Street, whilst Indian stocks closed a few points higher amid profit taking following an impressive rally over the past few weeks. Sustained foreign fund inflows are also supportive of the Rupee.<\/p>\n<p>A weaker US Dollar is keeping USD\/INR elevated. The US Dollar Index trades -0.07% at the time of writing at 90.61 as it continues to hover around multi year lows.<\/p>\n<p>Investor are awaiting further news on additional US fiscal stimulus. The current proposal for a $908 billion rescue package could be split in two to boost the chances of it being cleared through Congress. Investors are hoping it will be agreed before Friday when Congress breaks for Christmas.<\/p>\n<p>Looking ahead US industrial production data is due to be released.<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Indian Rupee (INR) boosted by upbeat domestic data IIP +3.6% in October, retail inflation 6.9% US Dollar (USD) eases on risk outflows News on US fiscal stimulus awaited The US Dollar Indian Rupee (USD\/INR) exchange rate is edging lower on Tuesday, extending losses for a second day. The pair settled on Monday -0.14% at 73.63. [&hellip;]<\/p>\n","protected":false},"author":163946597,"featured_media":82827,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1693,1381],"tags":[1666,1398,1862],"class_list":{"0":"post-107237","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-inr","8":"category-usd","9":"tag-inr","10":"tag-usd","11":"tag-usd-inr"},"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: Indian Rupee Supported by US Dollar Weakness - 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\/105045-usd-inr-indian-rupee-supported-by-us-dollar-weakness\/\" \/>\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\\\/105045-usd-inr-indian-rupee-supported-by-us-dollar-weakness\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/105045-usd-inr-indian-rupee-supported-by-us-dollar-weakness\\\/\"},\"author\":{\"name\":\"Fiona Cincotta\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#\\\/schema\\\/person\\\/8ef0fafb6c93f1204150bb907b42cfec\"},\"headline\":\"USD\\\/INR: Indian Rupee Supported by US Dollar Weakness\",\"datePublished\":\"2020-12-15T12:00:25+00:00\",\"dateModified\":\"2020-12-15T20:03:06+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/105045-usd-inr-indian-rupee-supported-by-us-dollar-weakness\\\/\"},\"wordCount\":336,\"image\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/105045-usd-inr-indian-rupee-supported-by-us-dollar-weakness\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/currencylive.com\\\/news\\\/wp-content\\\/uploads\\\/2019\\\/11\\\/indian-rupee-exchange-rate.jpg\",\"keywords\":[\"inr\",\"usd\",\"usd\\\/inr\"],\"articleSection\":[\"INR\",\"USD\"],\"inLanguage\":\"en-US\",\"copyrightYear\":\"2020\",\"copyrightHolder\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/105045-usd-inr-indian-rupee-supported-by-us-dollar-weakness\\\/\",\"url\":\"https:\\\/\\\/currencylive.com\\\/news\\\/105045-usd-inr-indian-rupee-supported-by-us-dollar-weakness\\\/\",\"name\":\"USD\\\/INR: Indian Rupee Supported by US Dollar Weakness - 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