{"id":111095,"date":"2021-11-15T12:00:10","date_gmt":"2021-11-15T12:00:10","guid":{"rendered":"https:\/\/currencylive.com\/news\/?p=111095"},"modified":"2021-11-15T09:39:32","modified_gmt":"2021-11-15T09:39:32","slug":"105984-usd-inr-rupee-weakens-despite-surging-wpi-inflation","status":"publish","type":"post","link":"https:\/\/currencylive.com\/news\/105984-usd-inr-rupee-weakens-despite-surging-wpi-inflation\/","title":{"rendered":"USD\/INR: Rupee Weakens Despite Surging WPI Inflation"},"content":{"rendered":"<ul>\n<li><strong><a href=\"https:\/\/currencylive.com\/exchange-rate\/inr-indian-rupee-live-exchange-rate\/\">Indian Rupee<\/a> (INR) falls despite WPI jumping higher<\/strong><\/li>\n<li><strong>Businesses could soon pass on rising costs<\/strong><\/li>\n<li><strong><a href=\"https:\/\/currencylive.com\/exchange-rate\/usd-us-dollar-live-exchange-rate\/\">US Dollar<\/a> (USD) eases from 16 month high<\/strong><\/li>\n<li><strong>US President Biden &amp; China\u2019s Xi Jinping to meet virtually<\/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 higher on Monday, extending gains from the previous week. The pair gained +0.23% last week settling on Friday at 74.34. At 10:00 UTC, USD\/INR trades +0.09% at 74.41.<\/p>\n<p>India\u2019s wholesale price inflation (WPI) surged to a 5-month high in October according to the latest data release. Rising energy and manufacturing prices have boosted prices, raising concerns over inflationary pressures.<\/p>\n<p>So far companies are trying to absorb the rise in prices. As a result, the difference between consumer and wholesale inflation has widened recently. However, firms could start passing on costs as domestic demand returns.<\/p>\n<p>WPI rose to 12.54% in October, up from 10.66% in September, whilst remaining in double digits for the seventh straight month. Meanwhile consumer prices, the gauge which the Reserve Bank of India watches rose to 4.48% in October, up from 4.35% in September.<\/p>\n<p>The US Dollar is trading higher versus the Rupee but is holding steady versus major peers. The US Dollar Index, which measures the greenback versus a basket of major currencies trades -0.01% at the time of writing at 95.11 after gaining 0.86% across the previous week taking it to a 16 month high.<\/p>\n<p>The US Dollar is treading water at the start of the week as investors await fresh clues on the US economy. The US Dollar rallied hard last week after inflation data confirmed a surging in consumer prices to a 3-decade high. The red-hot inflation print prompted bets that the Federal Reserve could move sooner to raise interest rates.<\/p>\n<p>Today the US economic calendar is quiet with just Empire State manufacturing data due ahead of US retail sales tomorrow.<\/p>\n<p>President Biden will hold a virtual meeting with China\u2019s President Xi Jinping later today which will be closely watched. Relations between the two powers are strained over a range of issues.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Indian Rupee (INR) falls despite WPI jumping higher Businesses could soon pass on rising costs US Dollar (USD) eases from 16 month high US President Biden &amp; China\u2019s Xi Jinping to meet virtually The US Dollar Indian Rupee (USD\/INR) exchange rate is heading higher on Monday, extending gains from the previous week. The pair gained [&hellip;]<\/p>\n","protected":false},"author":163946598,"featured_media":65335,"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-111095","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 Weakens Despite Surging WPI Inflation - 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\/105984-usd-inr-rupee-weakens-despite-surging-wpi-inflation\/\" \/>\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\\\/105984-usd-inr-rupee-weakens-despite-surging-wpi-inflation\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/105984-usd-inr-rupee-weakens-despite-surging-wpi-inflation\\\/\"},\"author\":{\"name\":\"Ileana Ionescu\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#\\\/schema\\\/person\\\/3d5cb0a6a22d357fc0b9ad562f35e75b\"},\"headline\":\"USD\\\/INR: Rupee Weakens Despite Surging WPI Inflation\",\"datePublished\":\"2021-11-15T12:00:10+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/105984-usd-inr-rupee-weakens-despite-surging-wpi-inflation\\\/\"},\"wordCount\":342,\"image\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/105984-usd-inr-rupee-weakens-despite-surging-wpi-inflation\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/currencylive.com\\\/news\\\/wp-content\\\/uploads\\\/2019\\\/11\\\/indian-rupee-british-pound-forex.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\\\/105984-usd-inr-rupee-weakens-despite-surging-wpi-inflation\\\/\",\"url\":\"https:\\\/\\\/currencylive.com\\\/news\\\/105984-usd-inr-rupee-weakens-despite-surging-wpi-inflation\\\/\",\"name\":\"USD\\\/INR: Rupee Weakens Despite Surging WPI Inflation - 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