{"id":110255,"date":"2021-07-02T17:00:46","date_gmt":"2021-07-02T16:00:46","guid":{"rendered":"https:\/\/currencylive.com\/news\/?p=110255"},"modified":"2021-07-02T17:01:09","modified_gmt":"2021-07-02T16:01:09","slug":"105762-usd-inr-rupee-rises-as-exports-foreign-exchange-reserves-hit-record-levels","status":"publish","type":"post","link":"https:\/\/currencylive.com\/news\/105762-usd-inr-rupee-rises-as-exports-foreign-exchange-reserves-hit-record-levels\/","title":{"rendered":"USD\/INR: Rupee Rises As Exports &#038; Foreign Exchange Reserves Hit Record Levels"},"content":{"rendered":"<ul>\n<li><strong><a href=\"https:\/\/currencylive.com\/exchange-rate\/inr-indian-rupee-live-exchange-rate\/\">Indian Rupee<\/a> (INR) snaps 6 session losing streak<\/strong><\/li>\n<li><strong>Exports surge to record levels<\/strong><\/li>\n<li><strong><a href=\"https:\/\/currencylive.com\/exchange-rate\/usd-us-dollar-live-exchange-rate\/\">US Dollar<\/a> (USD) falls after US jobs data<\/strong><\/li>\n<li><strong>US saw 850k jobs created vs 700km expected<\/strong><\/li>\n<\/ul>\n<p>The US Dollar Indian Rupee (<a href=\"https:\/\/currencylive.com\/exchange-rate\/usd-to-inr-exchange-rate-today\/\">USD\/INR<\/a>) exchange rate is heading lower on Friday, snapping a 6-session winning run. The pair gained 0.27% in the previous session, settling on Thursday at 74.56. At 16:40 UTC, USD\/INR trades -0.06% lower at 74.51. The pair is set to gain 0.4% across the week<\/p>\n<p>According to the Reserve Bank of India, the country\u2019s foreign exchange reserves surged by $5.066 billion to reach a record high of $608.999 billion in the week ending June 25. Reserves had declined by $4.418 billion in the previous week.<\/p>\n<p>Sticking with economic data, India recorded its highest ever merchandise export of $95 billion in the first quarter of FY2022. Total exports in June hit $32 billion, an 85% year on year increase. The record high in exports.<\/p>\n<p>Separately oil prices continue to rise, limiting gains on the Rupee. Oil prices trade at fresh two and a half year highs as OPEC has so far failed to agree to increase production.<\/p>\n<p>The US Dollar is falling across the board. The US Dollar Index, which measures the greenback versus a basket of major currencies trades -0.2% at the time of writing at 92.45 easing back from a 3 month high reached earlier in the session.<\/p>\n<p>The US Dollar slipped lower following US non-farm payroll report. The closely followed labour market report revealed that 850,000 new jobs were created in the US\u00a0 in June. This was above the 700,000 that analysts had penciled in. The upbeat number came following two straight months on misses.<\/p>\n<p>The unemployment rate unexpectedly ticked higher to 5.9% in June, up from 5.8%. Analysts had been expecting a decline to 5.7%.<\/p>\n<p>Earnings growth showed a mixed picture, rising to 3.4% in June, up from 1.9% in May. However, on a monthly basis earnings rose a smaller than expected 0.3%, down from a downwardly revised 0.4% in May. Analysts had forecast 0.4% growth.<\/p>\n<p>The data indicated that the labour market recovery is on the right track but not picking up so fast so as to prompt a sooner move by the Fed.<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Indian Rupee (INR) snaps 6 session losing streak Exports surge to record levels US Dollar (USD) falls after US jobs data US saw 850k jobs created vs 700km expected The US Dollar Indian Rupee (USD\/INR) exchange rate is heading lower on Friday, snapping a 6-session winning run. The pair gained 0.27% in the previous session, [&hellip;]<\/p>\n","protected":false},"author":163946598,"featured_media":82159,"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-110255","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 Rises As Exports &amp; Foreign Exchange Reserves Hit Record Levels - 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\/105762-usd-inr-rupee-rises-as-exports-foreign-exchange-reserves-hit-record-levels\/\" \/>\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\\\/105762-usd-inr-rupee-rises-as-exports-foreign-exchange-reserves-hit-record-levels\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/105762-usd-inr-rupee-rises-as-exports-foreign-exchange-reserves-hit-record-levels\\\/\"},\"author\":{\"name\":\"Ileana Ionescu\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#\\\/schema\\\/person\\\/3d5cb0a6a22d357fc0b9ad562f35e75b\"},\"headline\":\"USD\\\/INR: Rupee Rises As Exports &#038; 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