{"id":110111,"date":"2021-06-14T11:54:27","date_gmt":"2021-06-14T10:54:27","guid":{"rendered":"https:\/\/currencylive.com\/news\/?p=110111"},"modified":"2021-06-14T21:26:15","modified_gmt":"2021-06-14T20:26:15","slug":"105722-usd-inr-rupee-slips-wpi-inflation-jumps","status":"publish","type":"post","link":"https:\/\/currencylive.com\/news\/105722-usd-inr-rupee-slips-wpi-inflation-jumps\/","title":{"rendered":"USD\/INR: Rupee Slips, WPI 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) extends losses for a fifth consecutive session<\/strong><\/li>\n<li><strong>India WPI soars to 12.94%<\/strong><\/li>\n<li><strong><a href=\"https:\/\/currencylive.com\/exchange-rate\/usd-us-dollar-live-exchange-rate\/\">US Dollar<\/a> (USD) edges lower but remains near weekly high<\/strong><\/li>\n<li><strong>FOMC could start to consider tapering support<\/strong><\/li>\n<\/ul>\n<p>The US Dollar Indian Rupee (<a href=\"https:\/\/currencylive.com\/\">USD\/INR<\/a>) exchange rate is rising for a fifth straight session on Monday. \u00a0The pair rallied 0.5% across the previous week, settling on Friday at 73.24. At 11:00 UTC, USD\/INR trades +0.02% higher at 73.25.<\/p>\n<p>The Indian Rupee is tracing domestic equities lower, even as covid cases reach a two month low and as pandemic restrictions are gradually eased. Instead the benchmark indices declined as all Adani Group stocks opened sharply lower.<\/p>\n<p>The Indian Economic Times reported that the National Security Depository had frozen the accounts of three foreign funds which had a total investment of 435 billion Rupees in Adani Group companies.<\/p>\n<p>Separately, according to government data, India\u2019s wholesale inflation surged to 12.94% year on year in May, up from 10.49% in April. The jump higher was mainly owing to a spike in oil prices. Fuel prices have jumped by 37.6% year on year in May.<\/p>\n<p>Oil prices continue rising at the start of the week. Crude oil trades at a fresh two year high, extending gains for a fourth straight week. A strong demand outlook as countries continue to ease lockdown restrictions is lifting the price.<\/p>\n<p>The US Dollar is trading higher versus the Rupee. However, it is trading on the back foot versus its major peers. The US Dollar Index, which measures the greenback versus a basket of major currencies trades -0.08% at the time of writing at 90.50.<\/p>\n<p>The US Dollar is edging mildly lower, but still trades around its highest levels in a week as investors look ahead to the Federal Reserve monetary policy announcement on Wednesday.<\/p>\n<p>The Fed meeting is even more highly anticipated than usual as expectations rise that the Fed could start to signal a pivot towards a less dovish monetary policy. The meeting comes after a fresh surge in CPI inflation in May. However, the jobs market continues to print softer than forecast data.<\/p>\n<p>There is no high impacting US data today so jitters surrounding Wednesday\u2019s decision are likely to dominate.<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Indian Rupee (INR) extends losses for a fifth consecutive session India WPI soars to 12.94% US Dollar (USD) edges lower but remains near weekly high FOMC could start to consider tapering support The US Dollar Indian Rupee (USD\/INR) exchange rate is rising for a fifth straight session on Monday. \u00a0The pair rallied 0.5% across the [&hellip;]<\/p>\n","protected":false},"author":163946598,"featured_media":47015,"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":["post-110111","post","type-post","status-publish","format-standard","has-post-thumbnail","category-inr","category-usd","tag-inr","tag-usd","tag-usd-inr"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.0 - 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