{"id":112330,"date":"2022-05-04T12:00:23","date_gmt":"2022-05-04T11:00:23","guid":{"rendered":"https:\/\/currencylive.com\/news\/?p=112330"},"modified":"2022-05-05T09:21:50","modified_gmt":"2022-05-05T08:21:50","slug":"107063-usd-inr-rupee-supported-by-lic-ipo-interest","status":"publish","type":"post","link":"https:\/\/currencylive.com\/news\/107063-usd-inr-rupee-supported-by-lic-ipo-interest\/","title":{"rendered":"USD\/INR: Rupee Supported By LIC IPO Interest"},"content":{"rendered":"<ul>\n<li><strong><a href=\"https:\/\/currencylive.com\/exchange-rate\/inr-indian-rupee-live-exchange-rate\/\">Indian Rupee<\/a> (INR) rises as subscriptions open<\/strong><\/li>\n<li><strong>LIC is expected to be the largest IPO in India<\/strong><\/li>\n<li><strong><a href=\"https:\/\/currencylive.com\/exchange-rate\/usd-us-dollar-live-exchange-rate\/\">US Dollar<\/a> (USD) falls with the Fed meeting in focus<\/strong><\/li>\n<li><strong>US ADP &amp; ISM services expected before Fed<\/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 moving lower on Wednesday for a fourth straight session. The pair settled -0% lower on Tuesday at 76.46. At 11:30 UTC, USD\/INR trades +0.19% at 76.31.<\/p>\n<p>The Rupee is finding support from inflows as state-owned Life Insurance Corp (LIC) $2.7 billion initial public offering gets underway. India\u2019s largest IPO saw subscriptions open today and is expected to raise just a third of its original target.<\/p>\n<p>Just a 3.5% stake in the company is being floated giving it an initial value of $78.52 billion.<\/p>\n<p>Subscriptions are set to close on May 9<sup>th<\/sup> and the price range has been set between 902 rupees to 949 rupees<\/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 -0.07% at the time of writing at 103.39 extending losses from the previous session.<\/p>\n<p>The US dollar slipped lower yesterday despite strong data. US factory orders rose by more than expected in March, at 2.2%, after falling by -0.5% in February. The US manufacturing sector appears to be holding up well, despite concerns over supply chain disruptions on the horizon as China extends its lockdown.<\/p>\n<p>US JOLTS job openings were also at a record high of 11.5 million vacancies in March showing just how tight the US jobs market is. This also gives the Fed more leeway to tighten monetary policy.<\/p>\n<p>The Fed is due to announce its interest rate decision today. A 50 basis point rate hike is priced in. The big question is what comes next? Will the Fed lay out a steeper path to hiking interest rates and reducing the $9 trillion balance sheet?<\/p>\n<p>A more hawkish-sounding central bank could boost the value of the US Dollar, which had come close to a 20-year high earlier in the week.<\/p>\n<p>Prior to the Fed meeting US ADP private payroll data and ISM services PMI data will be in focus.<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Indian Rupee (INR) rises as subscriptions open LIC is expected to be the largest IPO in India US Dollar (USD) falls with the Fed meeting in focus US ADP &amp; ISM services expected before Fed The US Dollar Indian Rupee (USD\/INR) exchange rate is moving lower on Wednesday for a fourth straight session. The pair [&hellip;]<\/p>\n","protected":false},"author":163946598,"featured_media":47015,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1693,1381],"tags":[1666,1398,1862],"class_list":["post-112330","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 Supported By LIC IPO Interest - 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\/107063-usd-inr-rupee-supported-by-lic-ipo-interest\/\" \/>\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\\\/107063-usd-inr-rupee-supported-by-lic-ipo-interest\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/107063-usd-inr-rupee-supported-by-lic-ipo-interest\\\/\"},\"author\":{\"name\":\"Ileana Ionescu\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#\\\/schema\\\/person\\\/3d5cb0a6a22d357fc0b9ad562f35e75b\"},\"headline\":\"USD\\\/INR: Rupee Supported By LIC IPO Interest\",\"datePublished\":\"2022-05-04T11:00:23+00:00\",\"dateModified\":\"2022-05-05T08:21:50+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/107063-usd-inr-rupee-supported-by-lic-ipo-interest\\\/\"},\"wordCount\":360,\"image\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/107063-usd-inr-rupee-supported-by-lic-ipo-interest\\\/#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\\\/107063-usd-inr-rupee-supported-by-lic-ipo-interest\\\/\",\"url\":\"https:\\\/\\\/currencylive.com\\\/news\\\/107063-usd-inr-rupee-supported-by-lic-ipo-interest\\\/\",\"name\":\"USD\\\/INR: Rupee Supported By LIC IPO Interest - 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