{"id":110013,"date":"2021-06-01T11:41:07","date_gmt":"2021-06-01T10:41:07","guid":{"rendered":"https:\/\/currencylive.com\/news\/?p=110013"},"modified":"2021-06-01T11:42:06","modified_gmt":"2021-06-01T10:42:06","slug":"105697-usd-inr-indian-rupee-weakens-after-5-consecutive-weekly-gains","status":"publish","type":"post","link":"https:\/\/currencylive.com\/news\/105697-usd-inr-indian-rupee-weakens-after-5-consecutive-weekly-gains\/","title":{"rendered":"USD\/INR: Indian Rupee Weakens After 5 Consecutive Weekly Gains"},"content":{"rendered":"<ul>\n<li>Indian rupee weakens for the first time in the past 6 weeks<\/li>\n<li>Broad-based dollar weakness amid inflationary concerns<\/li>\n<li>Rupee eyes India\u2019s trade balance figures<\/li>\n<li>NIFTY 50 close to a new all-time high<\/li>\n<\/ul>\n<p>Indian Rupee depreciated on Tuesday extending losses from Monday. At the foreign exchange market, the value of the Rupee depreciated by 11 paise settling down 0.15% at 72.51 against the US dollar. However, the USD\/INR exchange rate was seen trading on Tuesday within a tight trading range of 72.51 and 72.95.<\/p>\n<p>The rupee has appreciated over 4.55% in the last 5 weeks benefiting from steady foreign inflow and risk appetite play. Rising inflation concerns and Fed\u2019s ultra-accommodative monetary policy have kept the US dollar under pressure.<\/p>\n<p>Amid these plays, the Indian Rupee can be supported unless there is a shift in the market sentiment and risk appetite.<\/p>\n<p>The dollar index, which gauges the greenback&#8217;s strength against a basket of major currencies, settled down -0.25% at 89.83.<\/p>\n<p>In other news, India\u2019s Manufacturing PMI fell to 10 months low. The manufacturing sector in India stood at 50.8 in May versus 55.5 previous reading. Overall, the manufacturing activity has remained above 50, which indicates expansion, since July 2020.<\/p>\n<p>On the economic calendar, market participants are eyeing the Balance of Trade figures. According to the market consensus, the trade deficit is expected to widen from -$10.4 billion to -$15.09 billion.<\/p>\n<p>Elsewhere, according to the National Stock Exchange of India, domestic institutional investors were net buyers in the local equity market worth Rs 179.78 crore on May 31. The domestic benchmark equity index NIFTY 50 settled higher 0.95% at 15,582.80 to a new all-time high on Monday trade.<\/p>\n<p>The Indian 10-year government bond yield was seen settling at 6.022%.<\/p>\n<p>Currently, one US dollar buys 72.91 rupees, up 0.56% as of 11:40 PM UTC.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Indian rupee weakens for the first time in the past 6 weeks Broad-based dollar weakness amid inflationary concerns Rupee eyes India\u2019s trade balance figures NIFTY 50 close to a new all-time high Indian Rupee depreciated on Tuesday extending losses from Monday. At the foreign exchange market, the value of the Rupee depreciated by 11 paise [&hellip;]<\/p>\n","protected":false},"author":163946612,"featured_media":47269,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1693,1381],"tags":[1655,3409,1862],"class_list":{"0":"post-110013","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-inr","8":"category-usd","9":"tag-indian-rupee","10":"tag-nifty50","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 Weakens After 5 Consecutive Weekly Gains - 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\/105697-usd-inr-indian-rupee-weakens-after-5-consecutive-weekly-gains\/\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Stelian Olar\" \/>\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\\\/105697-usd-inr-indian-rupee-weakens-after-5-consecutive-weekly-gains\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/105697-usd-inr-indian-rupee-weakens-after-5-consecutive-weekly-gains\\\/\"},\"author\":{\"name\":\"Stelian Olar\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#\\\/schema\\\/person\\\/c83637dd6dc82bcaadbc8b6c994d1186\"},\"headline\":\"USD\\\/INR: Indian Rupee Weakens After 5 Consecutive Weekly Gains\",\"datePublished\":\"2021-06-01T10:41:07+00:00\",\"dateModified\":\"2021-06-01T10:42:06+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/105697-usd-inr-indian-rupee-weakens-after-5-consecutive-weekly-gains\\\/\"},\"wordCount\":289,\"image\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/105697-usd-inr-indian-rupee-weakens-after-5-consecutive-weekly-gains\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/currencylive.com\\\/news\\\/wp-content\\\/uploads\\\/2019\\\/10\\\/indian-rupee-money.jpg\",\"keywords\":[\"indian rupee\",\"Nifty50\",\"usd\\\/inr\"],\"articleSection\":[\"INR\",\"USD\"],\"inLanguage\":\"en-US\",\"copyrightYear\":\"2021\",\"copyrightHolder\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/105697-usd-inr-indian-rupee-weakens-after-5-consecutive-weekly-gains\\\/\",\"url\":\"https:\\\/\\\/currencylive.com\\\/news\\\/105697-usd-inr-indian-rupee-weakens-after-5-consecutive-weekly-gains\\\/\",\"name\":\"USD\\\/INR: Indian Rupee Weakens After 5 Consecutive Weekly Gains - 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