{"id":112298,"date":"2022-04-28T12:10:37","date_gmt":"2022-04-28T11:10:37","guid":{"rendered":"https:\/\/currencylive.com\/news\/?p=112298"},"modified":"2022-04-29T12:13:19","modified_gmt":"2022-04-29T11:13:19","slug":"107058-usd-inr-rupee-rises-with-ipo-in-focus","status":"publish","type":"post","link":"https:\/\/currencylive.com\/news\/107058-usd-inr-rupee-rises-with-ipo-in-focus\/","title":{"rendered":"USD\/INR: Rupee Rises With IPO In Focus"},"content":{"rendered":"<ul>\n<li><strong><span lang=\"EN-US\"><a href=\"https:\/\/currencylive.com\/exchange-rate\/inr-indian-rupee-live-exchange-rate\/\">Indian Rupee<\/a> (INR) shows resilience ahead of LIC IPO\u00a0<\/span><\/strong><\/li>\n<li><strong><span lang=\"EN-US\">Domestic equities finish higher\u00a0<\/span><\/strong><\/li>\n<li><strong><span lang=\"EN-US\"><a href=\"https:\/\/currencylive.com\/exchange-rate\/usd-us-dollar-live-exchange-rate\/\">US Dollar<\/a> (USD) rises for a sixth straight day\u00a0<\/span><\/strong><\/li>\n<li><span lang=\"EN-US\"><strong>US GDP -1.4%<\/strong>\u00a0<\/span><\/li>\n<\/ul>\n<p class=\"x_MsoNormal\"><span lang=\"EN-US\">The US Dollar Indian Rupee (<a href=\"https:\/\/currencylive.com\/exchange-rate\/usd-to-inr-exchange-rate-today\/\">USD\/INR<\/a>) exchange rate is rising on Thursday after two days of losses. The pair settled +0.25% lower on Wednesday at 76.47. At 15:00 UTC, USD\/INR trades +0.24% at 76.64.\u00a0<\/span><\/p>\n<p class=\"x_MsoNormal\"><span lang=\"EN-US\">The Rupee traded lower versus the stronger USD. However, it continued to show resilience against the greenback. Losses in the Rupee are being limited by currency inflows ahead of the nation\u2019s largest IPO next week. \u00a0<\/span><\/p>\n<p class=\"x_MsoNormal\"><span lang=\"EN-US\">The state-owned insurance behemoth Life Insurance Corporation of India will launch its initial public offering (IPO) ON May 4<sup>th<\/sup>\u00a0and the issue will close on May 9<sup>th<\/sup>. \u00a0<\/span><\/p>\n<p class=\"x_MsoNormal\"><span lang=\"EN-US\">The company will sell its shares in the range of Rs902-949 per share equity. Policyholders, retail investors and employees will be offered a discount.\u00a0<\/span><\/p>\n<p class=\"x_MsoNormal\"><span lang=\"EN-US\">The IPO appears to be drawing inflows, protecting the Rupee from expectations of a more hawkish Federal Reserve. However, this is a temporary phenomenon after which fundamentals will continue to drive the market.\u00a0<\/span><\/p>\n<p class=\"x_MsoNormal\"><span lang=\"EN-US\">The Sensex closed 1.2% higher, as did the Nifty 50.\u00a0<\/span><\/p>\n<p class=\"x_MsoNormal\"><span lang=\"EN-US\">Separately oil prices held steady for a second day as Russian supply concerns were offset by a weaker demand outlook as China\u2019s COVID picture deteriorates.\u00a0<\/span><\/p>\n<p class=\"x_MsoNormal\"><span lang=\"EN-US\">The US Dollar is rising across the board. The US Dollar Index, which measures the greenback versus a basket of major currencies, trades +0.7% at the time of writing at 103.68, marking its sixth straight day of gains.\u00a0<\/span><\/p>\n<p class=\"x_MsoNormal\"><span lang=\"EN-US\">The US dollar trades around at 5 year high, as investors shrug off disappointing economic growth data.\u00a0<\/span><\/p>\n<p class=\"x_MsoNormal\"><span lang=\"EN-US\">Data revealed that the US economy contracted for the first time since 2020 in the first three months of the year. The Q1 GDP fell -1.4% annualized down significantly from 6.9% in Q4 2021.\u00a0<\/span><\/p>\n<p class=\"x_MsoNormal\"><span lang=\"EN-US\">Whilst a contraction in the economy and rising inflation will raise fears of stagflation, the US dollar is not reflecting that today, instead bounding higher along with stocks.\u00a0<\/span><\/p>\n<p class=\"x_MsoNormal\"><span lang=\"EN-US\">Meanwhile, initial jobless claims remained well below 200k, at 179.7k, up slightly from 177.5k last week.\u00a0<\/span><\/p>\n<p class=\"x_MsoNormal\"><span lang=\"EN-US\">\u00a0<\/span><\/p>\n<p class=\"x_MsoNormal\"><span lang=\"EN-US\">\u00a0<\/span><\/p>\n<p class=\"x_MsoNormal\" aria-hidden=\"true\">\n","protected":false},"excerpt":{"rendered":"<p>Indian Rupee (INR) shows resilience ahead of LIC IPO\u00a0 Domestic equities finish higher\u00a0 US Dollar (USD) rises for a sixth straight day\u00a0 US GDP -1.4%\u00a0 The US Dollar Indian Rupee (USD\/INR) exchange rate is rising on Thursday after two days of losses. The pair settled +0.25% lower on Wednesday at 76.47. At 15:00 UTC, USD\/INR [&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":{"0":"post-112298","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-inr","8":"category-usd","9":"tag-inr","10":"tag-usd","11":"tag-usd-inr"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.6 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>USD\/INR: Rupee Rises With IPO In Focus - 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\/107058-usd-inr-rupee-rises-with-ipo-in-focus\/\" \/>\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\\\/107058-usd-inr-rupee-rises-with-ipo-in-focus\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/107058-usd-inr-rupee-rises-with-ipo-in-focus\\\/\"},\"author\":{\"name\":\"Ileana Ionescu\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#\\\/schema\\\/person\\\/3d5cb0a6a22d357fc0b9ad562f35e75b\"},\"headline\":\"USD\\\/INR: Rupee Rises With IPO In Focus\",\"datePublished\":\"2022-04-28T11:10:37+00:00\",\"dateModified\":\"2022-04-29T11:13:19+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/107058-usd-inr-rupee-rises-with-ipo-in-focus\\\/\"},\"wordCount\":346,\"image\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/107058-usd-inr-rupee-rises-with-ipo-in-focus\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/currencylive.com\\\/news\\\/wp-content\\\/uploads\\\/2019\\\/10\\\/gbp-inr.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\\\/107058-usd-inr-rupee-rises-with-ipo-in-focus\\\/\",\"url\":\"https:\\\/\\\/currencylive.com\\\/news\\\/107058-usd-inr-rupee-rises-with-ipo-in-focus\\\/\",\"name\":\"USD\\\/INR: Rupee Rises With IPO In Focus - 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