{"id":108889,"date":"2021-03-12T17:36:59","date_gmt":"2021-03-12T17:36:59","guid":{"rendered":"https:\/\/currencylive.com\/news\/?p=108889"},"modified":"2021-03-13T14:57:13","modified_gmt":"2021-03-13T14:57:13","slug":"105478-usd-inr-rupee-treads-water-inflation-jumps","status":"publish","type":"post","link":"https:\/\/currencylive.com\/news\/105478-usd-inr-rupee-treads-water-inflation-jumps\/","title":{"rendered":"USD\/INR: Rupee Treads Water, Inflation Jumps"},"content":{"rendered":"<ul>\n<li><strong><a href=\"https:\/\/currencylive.com\/exchange-rate\/inr-indian-rupee-live-exchange-rate\/\">Indian Rupee<\/a> (INR) edges mildly lower<\/strong><\/li>\n<li><strong>Indian inflation rose to 5.03% in February<\/strong><\/li>\n<li><strong><a href=\"https:\/\/currencylive.com\/exchange-rate\/usd-us-dollar-live-exchange-rate\/\">US Dollar<\/a> (USD) rallies higher on rebounding yields<\/strong><\/li>\n<li><strong>US FOMC next week<\/strong><\/li>\n<\/ul>\n<p>The US Dollar Indian Rupee (<a href=\"https:\/\/currencylive.com\/\">USD\/INR<\/a>) exchange rate is ticking mildly higher on Friday snapping a three day losing streak. The pair settled -0.05% lower on Thursday at 72.69. At 16:45 UTC, USD\/INR trades +0.03% at 72.71.<\/p>\n<p>India\u2019s retail inflation accelerated to a 3 month high in February as fuel prices increased.<\/p>\n<p>According to the ministry of statistics annual retail inflation rose to 5.03% last month, up almost a full percentage point from 4.06% in January. The reading was also ahead of the 4.83% that was forecast by a Reuters poll of economists.<\/p>\n<p>Petrol prices were principally responsible for the jump in inflation with petrol prices in the capital New Delhi up almost 9% year to date.<\/p>\n<p>The Reserve Bank of India\u2019s Monetary Policy Committee kept the benchmark repo rate on hold in February at 4%. The central bank is expected to keep rates on hold again at the April meeting. However, rising inflation poses a risk to the bank\u2019s accommodative policy which it adopted through the pandemic in order\u00a0 to support the economy.<\/p>\n<p>The RBI cut interest rates by 115 basis points and has kept rates on hold at that level since May.<\/p>\n<p>Meanwhile the US Dollar was pushing higher across the board. The US Dollar Index which gauges the greenback versus its major peers trades +0.25% at the time of writing after three days of declines.<\/p>\n<p>US President Biden signed off on the $1.9 trillion US stimulus package whilst also promising to vaccine all adults in America by the 1<sup>st<\/sup> May. As a result, expectations of a faster economic recovery sent US treasury yields much higher, boosting the US Dollar.<\/p>\n<p>Data was also upbeat with US consumer confidence for March jumping to 83 well above the 78.5 forecast and significantly ahead of February\u2019s 76.8.<\/p>\n<p>Attention will now turn to next week when the Fed will announce its monetary policy.<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Indian Rupee (INR) edges mildly lower Indian inflation rose to 5.03% in February US Dollar (USD) rallies higher on rebounding yields US FOMC next week The US Dollar Indian Rupee (USD\/INR) exchange rate is ticking mildly higher on Friday snapping a three day losing streak. The pair settled -0.05% lower on Thursday at 72.69. At [&hellip;]<\/p>\n","protected":false},"author":163946598,"featured_media":76446,"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-108889","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 Treads Water, Inflation 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\/105478-usd-inr-rupee-treads-water-inflation-jumps\/\" \/>\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\\\/105478-usd-inr-rupee-treads-water-inflation-jumps\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/105478-usd-inr-rupee-treads-water-inflation-jumps\\\/\"},\"author\":{\"name\":\"Ileana Ionescu\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#\\\/schema\\\/person\\\/3d5cb0a6a22d357fc0b9ad562f35e75b\"},\"headline\":\"USD\\\/INR: Rupee Treads Water, Inflation Jumps\",\"datePublished\":\"2021-03-12T17:36:59+00:00\",\"dateModified\":\"2021-03-13T14:57:13+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/105478-usd-inr-rupee-treads-water-inflation-jumps\\\/\"},\"wordCount\":333,\"image\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/105478-usd-inr-rupee-treads-water-inflation-jumps\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/currencylive.com\\\/news\\\/wp-content\\\/uploads\\\/2019\\\/11\\\/GBP-INR-Pair-Trading-Flat-in-Early-Session.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\\\/105478-usd-inr-rupee-treads-water-inflation-jumps\\\/\",\"url\":\"https:\\\/\\\/currencylive.com\\\/news\\\/105478-usd-inr-rupee-treads-water-inflation-jumps\\\/\",\"name\":\"USD\\\/INR: Rupee Treads Water, Inflation Jumps - 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