{"id":108592,"date":"2021-02-26T15:04:41","date_gmt":"2021-02-26T15:04:41","guid":{"rendered":"https:\/\/currencylive.com\/news\/?p=108592"},"modified":"2021-02-26T18:22:10","modified_gmt":"2021-02-26T18:22:10","slug":"105432-usd-inr-rupee-slumps-as-gdp-misses-forecasts","status":"publish","type":"post","link":"https:\/\/currencylive.com\/news\/105432-usd-inr-rupee-slumps-as-gdp-misses-forecasts\/","title":{"rendered":"USD\/INR: Rupee Slumps As GDP Misses Forecasts"},"content":{"rendered":"<ul>\n<li><strong><a href=\"https:\/\/currencylive.com\/exchange-rate\/inr-indian-rupee-live-exchange-rate\/\">Indian Rupee<\/a> (INR) drops sharply for second session<\/strong><\/li>\n<li><strong>India GDP +0.4% vs +0.5% exp.<\/strong><\/li>\n<li><strong><a href=\"https:\/\/currencylive.com\/exchange-rate\/usd-us-dollar-live-exchange-rate\/\">US Dollar<\/a> (USD) rises elevated treasury yields<\/strong><\/li>\n<li><strong>US PCE inflation 1.5%<\/strong><\/li>\n<\/ul>\n<p>The US Dollar Indian Rupee (<a href=\"https:\/\/currencylive.com\/\">USD\/INR<\/a>) exchange rate has jumped higher on Friday, rising for a second straight session. The pair settled on Thursday at 72.73. At 15:15 UTC, USD\/INR trades +1.4% at 73.79.<\/p>\n<p>India\u2019s economy grew by 0.4% year on year in the October \u2013 December quarter, pulling out of the pandemic inspired recession.<\/p>\n<p>0.4% growth was slightly less than the 0.5% expansion that analysts were expecting which has dragged on the Indian Rupee. However it is still a marked improvement from the 23.6% and 7.5% contraction that was experienced in the April- June and July- September quarters respectively.<\/p>\n<p>Private consumption is showing signs of improving even though it registered a contraction again in the October \u2013 December quarter. Consumption of durable goods also picked up following the removal of lockdown restrictions.<\/p>\n<p>A sharp pick up in investment has also boosted the economy and this will be an important driver of growth going forwards.<\/p>\n<p>The US Dollar is pushing firmly higher across the board. The US Dollar Index which measures the greenback versus 6 major peers trades +0.5% at 90.60 at the time of writing.<\/p>\n<p>The greenback is extending its rebound from a 7 week low thanks to upbeat data and rising inflation expectations.<\/p>\n<p>Personal income data rose 10% month on month in January, above forecasts. Meanwhile personal spending jumped 2.4% at the start of the year. Finally, the PCE figure, the Fed\u2019s preferred measure of inflation hit 1.5% beating expectations of 1.4%<\/p>\n<p>The upbeat data supported expectations that the US could see a solid economic recovery amid the rapid rollout of the covid vaccine and the Biden administration\u2019s $1.9 trillion covid stimulus package. As strong recovery is expected to bring higher inflation and tighter monetary policy from the Fed.<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Indian Rupee (INR) drops sharply for second session India GDP +0.4% vs +0.5% exp. US Dollar (USD) rises elevated treasury yields US PCE inflation 1.5% The US Dollar Indian Rupee (USD\/INR) exchange rate has jumped higher on Friday, rising for a second straight session. The pair settled on Thursday at 72.73. At 15:15 UTC, USD\/INR [&hellip;]<\/p>\n","protected":false},"author":163946598,"featured_media":82966,"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-108592","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 Slumps As GDP Misses Forecasts - 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\/105432-usd-inr-rupee-slumps-as-gdp-misses-forecasts\/\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Ileana Ionescu\" \/>\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\\\/105432-usd-inr-rupee-slumps-as-gdp-misses-forecasts\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/105432-usd-inr-rupee-slumps-as-gdp-misses-forecasts\\\/\"},\"author\":{\"name\":\"Ileana Ionescu\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#\\\/schema\\\/person\\\/3d5cb0a6a22d357fc0b9ad562f35e75b\"},\"headline\":\"USD\\\/INR: Rupee Slumps As GDP Misses Forecasts\",\"datePublished\":\"2021-02-26T15:04:41+00:00\",\"dateModified\":\"2021-02-26T18:22:10+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/105432-usd-inr-rupee-slumps-as-gdp-misses-forecasts\\\/\"},\"wordCount\":309,\"image\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/105432-usd-inr-rupee-slumps-as-gdp-misses-forecasts\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/currencylive.com\\\/news\\\/wp-content\\\/uploads\\\/2019\\\/12\\\/inr-indian-rupee-exchange-rates-gbp.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\\\/105432-usd-inr-rupee-slumps-as-gdp-misses-forecasts\\\/\",\"url\":\"https:\\\/\\\/currencylive.com\\\/news\\\/105432-usd-inr-rupee-slumps-as-gdp-misses-forecasts\\\/\",\"name\":\"USD\\\/INR: Rupee Slumps As GDP Misses Forecasts - 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