{"id":107895,"date":"2021-01-20T11:59:22","date_gmt":"2021-01-20T11:59:22","guid":{"rendered":"https:\/\/currencylive.com\/news\/?p=107895"},"modified":"2021-01-20T11:59:22","modified_gmt":"2021-01-20T11:59:22","slug":"105268-usd-inr-indian-rupee-strengthens-after-yellens-us-stimulus-support","status":"publish","type":"post","link":"https:\/\/currencylive.com\/news\/105268-usd-inr-indian-rupee-strengthens-after-yellens-us-stimulus-support\/","title":{"rendered":"USD\/INR: Rupee Strengthens After Yellen\u2019s US Stimulus Support"},"content":{"rendered":"<ul>\n<li><strong><a href=\"https:\/\/currencylive.com\/exchange-rate\/inr-indian-rupee-live-exchange-rate\/\">Indian Rupee<\/a> (INR) snaps three day losing streak<\/strong><\/li>\n<li><strong>Nomura sees Indian GDP turn positive in Oct \u2013 Dec period<\/strong><\/li>\n<li><strong><a href=\"https:\/\/currencylive.com\/exchange-rate\/usd-us-dollar-live-exchange-rate\/\">US Dollar<\/a> (USD) eases in risk outflows<\/strong><\/li>\n<li><strong>Biden\u2019s inauguration later<\/strong><\/li>\n<\/ul>\n<p>The US Dollar Indian Rupee (<a href=\"https:\/\/currencylive.com\/\">USD\/INR<\/a>) exchange rate is trending southwards on Wednesday snapping a three-day winning streak. The pair settled on Tuesday just a few pipis higher at 73.19. At 11:15 UTC, USD\/INR trades -0.3% at 72.99.<\/p>\n<p>Risk on trade is boosting demand for riskier assets and currencies, such as the Indian Rupee, whilst dragging on demand for the safe haven US Dollar. The upbeat market mood comes after US treasury Secretary Janet Yellen testified before the Senate, supporting Joe Biden\u2019s huge fiscal stimulus package. Optimism surrounding the massive US stimulus plan is boosting risk appetite globally.<\/p>\n<p>US index futures are pointing to a stronger start, whilst Indian equities closed higher. The Sensex ended the day +0.8%.<\/p>\n<p>The US Dollar Index, which gauges the greenback versus its major peers trades -0.1% at the time of writing.<\/p>\n<p>According to investment bank Nomura Indian economic activity held up well over the festive period. Positive covid developments in terms of cases and vaccinations are helping to pave a faster path to economic recovery and normalization. The bank sees Indian GDP turning positive in October \u2013 December, expanding by 1.5% annually.<\/p>\n<p>Nomura also pointed out that preliminary merchandise data relating to the first half of this month shows signs of recovery after returning to growth in December. Adding to the upbeat statistics, the unemployment rate fell in the week ending 17<sup>th<\/sup> January to 4.66% compared to 7.4% for the previous week.<\/p>\n<p>According to analysts at global bank HSBC economic activity in India has rebounded strongly to 94% of pre-pandemic levels.<\/p>\n<p>Looking ahead, President elect Joe Biden is to be inaugurated today. This is not a market moving event in itself. However, it does mark the start of a new era whereby the Democrats will be ruling the country with control over both branches of government.<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Indian Rupee (INR) snaps three day losing streak Nomura sees Indian GDP turn positive in Oct \u2013 Dec period US Dollar (USD) eases in risk outflows Biden\u2019s inauguration later The US Dollar Indian Rupee (USD\/INR) exchange rate is trending southwards on Wednesday snapping a three-day winning streak. The pair settled on Tuesday just a few [&hellip;]<\/p>\n","protected":false},"author":163946597,"featured_media":82150,"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-107895","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: Rupee Strengthens After Yellen\u2019s US Stimulus Support - 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\/105268-usd-inr-indian-rupee-strengthens-after-yellens-us-stimulus-support\/\" \/>\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\\\/105268-usd-inr-indian-rupee-strengthens-after-yellens-us-stimulus-support\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/105268-usd-inr-indian-rupee-strengthens-after-yellens-us-stimulus-support\\\/\"},\"author\":{\"name\":\"Fiona Cincotta\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#\\\/schema\\\/person\\\/8ef0fafb6c93f1204150bb907b42cfec\"},\"headline\":\"USD\\\/INR: Rupee Strengthens After Yellen\u2019s US Stimulus Support\",\"datePublished\":\"2021-01-20T11:59:22+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/105268-usd-inr-indian-rupee-strengthens-after-yellens-us-stimulus-support\\\/\"},\"wordCount\":337,\"image\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/105268-usd-inr-indian-rupee-strengthens-after-yellens-us-stimulus-support\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/currencylive.com\\\/news\\\/wp-content\\\/uploads\\\/2019\\\/11\\\/GBP-INR-Rupee-Benefits-from-US-China-Trade-Optimism.jpg\",\"keywords\":[\"inr\",\"usd\",\"usd\\\/inr\"],\"articleSection\":[\"INR\",\"USD\"],\"inLanguage\":\"en-US\",\"copyrightYear\":\"2021\",\"copyrightHolder\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/105268-usd-inr-indian-rupee-strengthens-after-yellens-us-stimulus-support\\\/\",\"url\":\"https:\\\/\\\/currencylive.com\\\/news\\\/105268-usd-inr-indian-rupee-strengthens-after-yellens-us-stimulus-support\\\/\",\"name\":\"USD\\\/INR: Rupee Strengthens After Yellen\u2019s US Stimulus Support - 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