{"id":112950,"date":"2022-08-23T12:00:32","date_gmt":"2022-08-23T11:00:32","guid":{"rendered":"https:\/\/currencylive.com\/news\/?p=112950"},"modified":"2022-08-24T09:34:56","modified_gmt":"2022-08-24T08:34:56","slug":"107228-usd-inr-rupee-rises-even-as-oil-pushes-higher","status":"publish","type":"post","link":"https:\/\/currencylive.com\/news\/107228-usd-inr-rupee-rises-even-as-oil-pushes-higher\/","title":{"rendered":"USD\/INR: Rupee Rises Even As Oil Pushes Higher"},"content":{"rendered":"<ul>\n<li><strong>Indian Rupee (INR) shows resilience<\/strong><\/li>\n<li><strong>Domestic equities fall<\/strong><\/li>\n<li><strong>US Dollar (USD) holds steady versus major peers on safe-haven flows<\/strong><\/li>\n<li><strong>US PMI data in focus<\/strong><\/li>\n<\/ul>\n<p>The US Dollar Indian Rupee (USD\/INR) exchange rate is falling, extending losses from the previous session. The pair fell 0.09% yesterday settling at 79.85 after trading in a range 79.76 to 79.90. At 10:00 UTC, USD\/INR trades -0.03% at 79.84.<\/p>\n<p>The Rupee is heading higher, despite some weakness in domestic equities and oil prices rising.<\/p>\n<p>Oil prices are pushing higher as concerns over tight supply overshadow worries that slowing global growth could hurt the demand outlook for oil. Oil has risen over 1% on comments from Saudi Arabia that it could cut oil production to support prices which has fallen steeply in recent weeks.<\/p>\n<p>Oil prices had surged to $147 per barrel earlier in the year and now trade at $90 per barrel as recession fears pulled the price lower.<\/p>\n<p>Separately, domestic equities are trading lower, pulled southward by the tech sector, which overshadowed gains in banking stocks. The Sensex trades -0.25% at the time of writing<\/p>\n<p>The US Dollar is falling versus the Rupee but is holding steady versus its 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 108.97 after gains of 0.7% yesterday.<\/p>\n<p>The USD rose yesterday tracing US treasury yields higher as the market continued to price in a more hawkish Federal Reserve. Cooler inflation data a few weeks ago had seen the USD slip as investors expected a softer tone from the Fed. However, increasingly we are seeing the relaisation being priced in that the Fed is likely to reiterate its hawkish stance at the Jackson Hole Symposium.<\/p>\n<p>Looking ahead US PMI data is due to be released. Expectations are for the composite PMI to fall to 47.5, down from 47.7. A better than expected reading could fuel bets that the Federal Reserve will keep hiking rate aggressively, sending the USD higher.<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Indian Rupee (INR) shows resilience Domestic equities fall US Dollar (USD) holds steady versus major peers on safe-haven flows US PMI data in focus The US Dollar Indian Rupee (USD\/INR) exchange rate is falling, extending losses from the previous session. The pair fell 0.09% yesterday settling at 79.85 after trading in a range 79.76 to [&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-112950","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 Even As Oil Pushes Higher - 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\/107228-usd-inr-rupee-rises-even-as-oil-pushes-higher\/\" \/>\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\\\/107228-usd-inr-rupee-rises-even-as-oil-pushes-higher\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/107228-usd-inr-rupee-rises-even-as-oil-pushes-higher\\\/\"},\"author\":{\"name\":\"Ileana Ionescu\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#\\\/schema\\\/person\\\/3d5cb0a6a22d357fc0b9ad562f35e75b\"},\"headline\":\"USD\\\/INR: Rupee Rises Even As Oil Pushes Higher\",\"datePublished\":\"2022-08-23T11:00:32+00:00\",\"dateModified\":\"2022-08-24T08:34:56+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/107228-usd-inr-rupee-rises-even-as-oil-pushes-higher\\\/\"},\"wordCount\":335,\"image\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/107228-usd-inr-rupee-rises-even-as-oil-pushes-higher\\\/#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\\\/107228-usd-inr-rupee-rises-even-as-oil-pushes-higher\\\/\",\"url\":\"https:\\\/\\\/currencylive.com\\\/news\\\/107228-usd-inr-rupee-rises-even-as-oil-pushes-higher\\\/\",\"name\":\"USD\\\/INR: Rupee Rises Even As Oil Pushes Higher - 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