{"id":110200,"date":"2021-06-24T12:00:13","date_gmt":"2021-06-24T11:00:13","guid":{"rendered":"https:\/\/currencylive.com\/news\/?p=110200"},"modified":"2021-06-24T11:47:49","modified_gmt":"2021-06-24T10:47:49","slug":"105743-usd-inr-rupee-slips-sp-downgrades-indias-gdp-outlook","status":"publish","type":"post","link":"https:\/\/currencylive.com\/news\/105743-usd-inr-rupee-slips-sp-downgrades-indias-gdp-outlook\/","title":{"rendered":"USD\/INR: Rupee Slips, S&#038;P Downgrades India\u2019s GDP Outlook"},"content":{"rendered":"<ul>\n<li><strong><a href=\"https:\/\/currencylive.com\/exchange-rate\/inr-indian-rupee-live-exchange-rate\/\">Indian Rupee<\/a> (INR) edges lower, S&amp;P downgrade GDP to 9.5%<\/strong><\/li>\n<li><strong>Oil extends its rally as inventories decline<\/strong><\/li>\n<li><strong><a href=\"https:\/\/currencylive.com\/exchange-rate\/usd-us-dollar-live-exchange-rate\/\">US Dollar<\/a> (USD) struggles on Fed\u2019s mixed messages<\/strong><\/li>\n<li><strong>US jobless claims and durable goods in focus<\/strong><\/li>\n<\/ul>\n<p>The US Dollar Indian Rupee (<a href=\"https:\/\/currencylive.com\/\">USD\/INR<\/a>) exchange rate is ticking higher on Thursday after losses in the previous session. The pair settled -0.25% on Wednesday at 74.14. At 11:00 UTC, USD\/INR trades +0.04% lower at 74.17.<\/p>\n<p>S&amp;P Global Ratings cut India\u2019s growth forecast for the current fiscal year to 9.5%, down from 11%, in addition to warning of further waves of covid. The agency downgraded the growth outlook following the serve second wav e of covid which led to lockdown restrictions and a sharp contraction in economic activity. Analysts at the ratings agency expect GDP growth of 7.8% in the coming fiscal year ending March 2023.<\/p>\n<p>Oil prices continues to rise, weighing on the Rupee. Both WTI crude and Brent hit fresh multi-year highs on Wednesday as surging demand drains oil inventories.<\/p>\n<p>The US Dollar is rising versus the Rupee. However, the greenback is slipping lower versus is major peers. The US Dollar Index, which measures the greenback versus a basket of major currencies trades -0.09% at the time of writing at 91.72 paring minor gains from the previous session.<\/p>\n<p>The US Dollar continues to edge away from its two month high reached last week following the Federal Reserve\u2019s surprise adjustment with two interest rate hikes expected in 2023. Yesterday, the US Dollar received some support with two more Fed speakers adopting a more hawkish stance. Earlier in the week Fed Chair Powell was more reassuring, insisting still that the rise in inflation is temporary. As a result of mixed messages surrounding the inflation outlook and monetary policy the US Dollar is struggling.<\/p>\n<p>Attention will now turn towards the US economic calendar, with initial jobless claims and US durable goods orders likely to set the tone. Initial jobless claims are expected to resume the decline to 380,000 after a surprise increase last week.<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Indian Rupee (INR) edges lower, S&amp;P downgrade GDP to 9.5% Oil extends its rally as inventories decline US Dollar (USD) struggles on Fed\u2019s mixed messages US jobless claims and durable goods in focus The US Dollar Indian Rupee (USD\/INR) exchange rate is ticking higher on Thursday after losses in the previous session. The pair settled [&hellip;]<\/p>\n","protected":false},"author":163946598,"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":["post-110200","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 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>USD\/INR: Rupee Slips, S&amp;P Downgrades India\u2019s GDP Outlook - 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\/105743-usd-inr-rupee-slips-sp-downgrades-indias-gdp-outlook\/\" \/>\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\\\/105743-usd-inr-rupee-slips-sp-downgrades-indias-gdp-outlook\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/105743-usd-inr-rupee-slips-sp-downgrades-indias-gdp-outlook\\\/\"},\"author\":{\"name\":\"Ileana Ionescu\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#\\\/schema\\\/person\\\/3d5cb0a6a22d357fc0b9ad562f35e75b\"},\"headline\":\"USD\\\/INR: Rupee Slips, S&#038;P Downgrades India\u2019s GDP Outlook\",\"datePublished\":\"2021-06-24T11:00:13+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/105743-usd-inr-rupee-slips-sp-downgrades-indias-gdp-outlook\\\/\"},\"wordCount\":345,\"image\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/105743-usd-inr-rupee-slips-sp-downgrades-indias-gdp-outlook\\\/#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\\\/105743-usd-inr-rupee-slips-sp-downgrades-indias-gdp-outlook\\\/\",\"url\":\"https:\\\/\\\/currencylive.com\\\/news\\\/105743-usd-inr-rupee-slips-sp-downgrades-indias-gdp-outlook\\\/\",\"name\":\"USD\\\/INR: Rupee Slips, S&P Downgrades India\u2019s GDP Outlook - 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