{"id":112089,"date":"2022-03-24T12:00:10","date_gmt":"2022-03-24T12:00:10","guid":{"rendered":"https:\/\/currencylive.com\/news\/?p=112089"},"modified":"2022-03-25T14:51:50","modified_gmt":"2022-03-25T14:51:50","slug":"107007-usd-inr-rupee-rises-despite-high-oil-prices","status":"publish","type":"post","link":"https:\/\/currencylive.com\/news\/107007-usd-inr-rupee-rises-despite-high-oil-prices\/","title":{"rendered":"USD\/INR: Rupee Rises Despite High Oil Prices"},"content":{"rendered":"<ul>\n<li><strong><a href=\"https:\/\/currencylive.com\/exchange-rate\/inr-indian-rupee-live-exchange-rate\/\">Indian Rupee<\/a> (INR) rises despite elevated oil prices<\/strong><\/li>\n<li><strong>Domestic equities close mildly lower<\/strong><\/li>\n<li><strong><a href=\"https:\/\/currencylive.com\/exchange-rate\/usd-us-dollar-live-exchange-rate\/\">US Dollar<\/a> (USD) rises on hawkish Fed bets<\/strong><\/li>\n<li><strong>US PMIs, durable goods and jobless claims due<\/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 falling on Thursday, paring gains from the previous session. The pair settled +0.5% higher on Wednesday at 76.52. At 11:30 UTC, USD\/INR trades -0.26% at 76.32.<\/p>\n<p>The Rupee fell yesterday as oil prices surged higher. Oil rallied 4% after Russian President Putin said that hostile countries must pay for their gas in Rubles. The command sent gas prices soaring, bringing the entire energy complex higher.<\/p>\n<p>West Texas Intermediate rose to $118 in early trade today and has since eased back slightly, helping risk sentiment.<\/p>\n<p>India imports over 80% of its oil needs meaning that it is very vulnerable to changes in oil prices.<\/p>\n<p>Attention will be on President Biden\u2019s meetings in Europe and what further sanctions will be imposed on Moscow.<\/p>\n<p>Domestic equities edged lower. The Sensex closed-0.1% at 57,595. The Nifty 50 closed -0.13% at 17,222.<\/p>\n<p>The US Dollar is falling versus the Rupee but rising versus its major peers. The US Dollar Index, which measures the greenback versus a basket of major currencies trades +0.17% at the time of writing at 98.78 marking a second straight day of gains.<\/p>\n<p>The US dollar rose yesterday in risk-off trade on concerns over surging oil prices and the impact that this will have on businesses and households. The US stock market fell sharply as investors sold out of riskier assets such as stocks.<\/p>\n<p>Expectations of a more hawkish response from the Federal Reserve have been lifting the US dollar. More Fed speakers are being increasingly vocal over the need to hike interest rates more aggressively across the year.<\/p>\n<p>Looking ahead there is plenty of data for investors to digest, including US PMI data which is expected to show a slight slowdown in growth, durable goods orders, and jobless claims which are expected to fall to 211k.<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Indian Rupee (INR) rises despite elevated oil prices Domestic equities close mildly lower US Dollar (USD) rises on hawkish Fed bets US PMIs, durable goods and jobless claims due The US Dollar Indian Rupee (USD\/INR) exchange rate is falling on Thursday, paring gains from the previous session. The pair settled +0.5% higher on Wednesday at [&hellip;]<\/p>\n","protected":false},"author":163946598,"featured_media":3629,"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-112089","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 Despite High Oil Prices - 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\/107007-usd-inr-rupee-rises-despite-high-oil-prices\/\" \/>\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\\\/107007-usd-inr-rupee-rises-despite-high-oil-prices\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/107007-usd-inr-rupee-rises-despite-high-oil-prices\\\/\"},\"author\":{\"name\":\"Ileana Ionescu\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#\\\/schema\\\/person\\\/3d5cb0a6a22d357fc0b9ad562f35e75b\"},\"headline\":\"USD\\\/INR: Rupee Rises Despite High Oil Prices\",\"datePublished\":\"2022-03-24T12:00:10+00:00\",\"dateModified\":\"2022-03-25T14:51:50+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/107007-usd-inr-rupee-rises-despite-high-oil-prices\\\/\"},\"wordCount\":333,\"image\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/107007-usd-inr-rupee-rises-despite-high-oil-prices\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/currencylive.com\\\/news\\\/wp-content\\\/uploads\\\/2019\\\/08\\\/100058-usd-raises-v-gbp-oil-down.jpg\",\"keywords\":[\"inr\",\"usd\",\"usd\\\/inr\"],\"articleSection\":[\"INR\",\"USD\"],\"inLanguage\":\"en-US\",\"copyrightYear\":\"2022\",\"copyrightHolder\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/107007-usd-inr-rupee-rises-despite-high-oil-prices\\\/\",\"url\":\"https:\\\/\\\/currencylive.com\\\/news\\\/107007-usd-inr-rupee-rises-despite-high-oil-prices\\\/\",\"name\":\"USD\\\/INR: Rupee Rises Despite High Oil Prices - 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