{"id":112668,"date":"2022-07-01T12:05:28","date_gmt":"2022-07-01T11:05:28","guid":{"rendered":"https:\/\/currencylive.com\/news\/?p=112668"},"modified":"2022-07-01T14:50:21","modified_gmt":"2022-07-01T13:50:21","slug":"107156-usd-inr-rupee-remains-weak-as-manufacturing-activity-slows","status":"publish","type":"post","link":"https:\/\/currencylive.com\/news\/107156-usd-inr-rupee-remains-weak-as-manufacturing-activity-slows\/","title":{"rendered":"USD\/INR: Rupee Remains Weak As Manufacturing Activity Slows"},"content":{"rendered":"<ul>\n<li><strong>Indian Rupee (INR) falls to a record low in risk-off trade<\/strong><\/li>\n<li><strong>Manufacturing activity falls 53.9 in June<\/strong><\/li>\n<li><strong>US Dollar (USD) rises across the week<\/strong><\/li>\n<li><strong>ISM manufacturing data 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 holding steady around a record high after gains in the previous session. The pair settled +0.04% lower on Thursday at 78.95. At 11:00 UTC, USD\/INR trades +0.01% at 78.96. The pair is set to gain 0.9% across the week marking its second straight week of gains.<\/p>\n<p>The Indian Rupee is hovering around its record low after data showed that Indian factory output grew at the slowest pace in nine months as demand continued to deteriorate as prices rose.<\/p>\n<p>The manufacturing PMI slipped to 53.9 in June, down from 54.6 in May. This was lower than estimates of 54.5.<\/p>\n<p>Inflation did cool in May to 7.04% from the eight-year high of 7.79% in April. However, no significant decline in inflation is expected any time soon. The Reserve Bank of India is widely expected to continue with aggressive rate hikes for the foreseeable future.<\/p>\n<p>The US Dollar is rising across the board. The US Dollar Index, which measures the greenback versus a basket of major currencies, trades +0.30% at the time of writing at 105.00 after losses yesterday. The USD is set to rise 0.7 across the week.<\/p>\n<p>The US dollar fell yesterday after data showed that US inflation was cooling slightly in May. Core personal consumption expenditure (PCE) fell to 4.7% year on year, down from 4.9% in April and 5.2% in March. The data isn\u2019t likely to deter the Federal Reserve from its rate-hiking path. Instead, recession fears pulled on demand for the buck.<\/p>\n<p>Looking ahead US economic data will remain in focus with investors waiting for the US ism manufacturing PMI. Expectations are for a slight slowdown in growth to 55 in June, down from 56.1 in May. In addition to the headline figure, the inflation component and the employment sub-index will also be in focus.<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Indian Rupee (INR) falls to a record low in risk-off trade Manufacturing activity falls 53.9 in June US Dollar (USD) rises across the week ISM manufacturing data due The US Dollar Indian Rupee (USD\/INR) exchange rate is holding steady around a record high after gains in the previous session. The pair settled +0.04% lower on [&hellip;]<\/p>\n","protected":false},"author":163946598,"featured_media":4846,"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-112668","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 Remains Weak As Manufacturing Activity Slows - 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\/107156-usd-inr-rupee-remains-weak-as-manufacturing-activity-slows\/\" \/>\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\\\/107156-usd-inr-rupee-remains-weak-as-manufacturing-activity-slows\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/107156-usd-inr-rupee-remains-weak-as-manufacturing-activity-slows\\\/\"},\"author\":{\"name\":\"Ileana Ionescu\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#\\\/schema\\\/person\\\/3d5cb0a6a22d357fc0b9ad562f35e75b\"},\"headline\":\"USD\\\/INR: Rupee Remains Weak As Manufacturing Activity Slows\",\"datePublished\":\"2022-07-01T11:05:28+00:00\",\"dateModified\":\"2022-07-01T13:50:21+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/107156-usd-inr-rupee-remains-weak-as-manufacturing-activity-slows\\\/\"},\"wordCount\":328,\"image\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/107156-usd-inr-rupee-remains-weak-as-manufacturing-activity-slows\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/currencylive.com\\\/news\\\/wp-content\\\/uploads\\\/2019\\\/08\\\/100627-gbp-eur-weak-manufacturing-data.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\\\/107156-usd-inr-rupee-remains-weak-as-manufacturing-activity-slows\\\/\",\"url\":\"https:\\\/\\\/currencylive.com\\\/news\\\/107156-usd-inr-rupee-remains-weak-as-manufacturing-activity-slows\\\/\",\"name\":\"USD\\\/INR: Rupee Remains Weak As Manufacturing Activity Slows - 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