{"id":113889,"date":"2023-02-15T11:26:27","date_gmt":"2023-02-15T11:26:27","guid":{"rendered":"https:\/\/currencylive.com\/news\/?p=113889"},"modified":"2023-02-17T07:21:58","modified_gmt":"2023-02-17T07:21:58","slug":"107437-usd-inr-rupee-rises-from-monthly-low","status":"publish","type":"post","link":"https:\/\/currencylive.com\/news\/107437-usd-inr-rupee-rises-from-monthly-low\/","title":{"rendered":"USD\/INR: Rupee rises from monthly low"},"content":{"rendered":"<ul>\n<li><strong><a href=\"https:\/\/currencylive.com\/exchange-rate\/inr-indian-rupee-live-exchange-rate\/\">Indian Rupee<\/a> (INR) rises after nearing 83.00<\/strong><\/li>\n<li><strong>Indian government considers cutting taxes<\/strong><\/li>\n<li><strong><a href=\"https:\/\/currencylive.com\/exchange-rate\/usd-us-dollar-live-exchange-rate\/\">US Dollar<\/a> (USD) rises versus major peers<\/strong><\/li>\n<li><strong>US retail sales data is due<\/strong><\/li>\n<\/ul>\n<p>The US Dollar Indian Rupee (USD\/INR) exchange rate is falling on Wednesday, snapping a two-day losing run. The pair settled +0.39% higher on Tuesday at 82.91. At 10:00 UTC, USD\/INR trades -0.09% at 82.84 and trades in a range of 82.79 to 82.96.<\/p>\n<p>The Indian rupee has steadied after falling to a monthly low after US inflation data cemented expectations of more rate hikes. The Reserve Bank of India has, on previous occasions, protected the 82.90 to 83 zone, which makes it harder for the Rupee to breach this region.<\/p>\n<p>Separately the Indian government is weighing up whether to reduce tax on some products, including maize and fuel, in order to help time rising retail inflation. No decision is expected to be taken until after the release of February inflation data. Retail inflation rose to 6.52% in January up from 5.72% in December.<\/p>\n<p>The US Dollar is falling against the Rupee but rising against its major peers. The US Dollar Index, which measures the greenback versus a basket of major currencies, trades +0.33% at the time of writing at 103.56, after two days of losses.<\/p>\n<p>The US dollar is rising as investors continue digesting yesterday\u2019s inflation data which stage that US consumer prices cooled by less than forecast in January, ramping up worries more hawkish Federal Reserve.<\/p>\n<p>US CPI cooled to 6.4% year on year in January, down from 6.5% in December. Whilst this was the seventh straight month of falling inflation, it didn\u2019t cool by as much as the 6.3% forecast.<\/p>\n<p>The data, in addition to hawkish commentary from Federal Reserve President Lorie Logan, raised concerns that the Fed could keep hiking interest rates for longer.<\/p>\n<p>Attention is now turning to US retail sales data which is expected to show that sales rebounded in January, rising 1.8% month on month after falling -1.1% in December. Stronger than forecast retail sales could boost inflation and Fed worries, lifting the USD higher.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Indian Rupee (INR) rises after nearing 83.00 Indian government considers cutting taxes US Dollar (USD) rises versus major peers US retail sales data is due The US Dollar Indian Rupee (USD\/INR) exchange rate is falling on Wednesday, snapping a two-day losing run. The pair settled +0.39% higher on Tuesday at 82.91. At 10:00 UTC, USD\/INR [&hellip;]<\/p>\n","protected":false},"author":163946598,"featured_media":47269,"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-113889","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 from monthly low - 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\/107437-usd-inr-rupee-rises-from-monthly-low\/\" \/>\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\\\/107437-usd-inr-rupee-rises-from-monthly-low\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/107437-usd-inr-rupee-rises-from-monthly-low\\\/\"},\"author\":{\"name\":\"Ileana Ionescu\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#\\\/schema\\\/person\\\/3d5cb0a6a22d357fc0b9ad562f35e75b\"},\"headline\":\"USD\\\/INR: Rupee rises from monthly low\",\"datePublished\":\"2023-02-15T11:26:27+00:00\",\"dateModified\":\"2023-02-17T07:21:58+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/107437-usd-inr-rupee-rises-from-monthly-low\\\/\"},\"wordCount\":340,\"image\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/107437-usd-inr-rupee-rises-from-monthly-low\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/currencylive.com\\\/news\\\/wp-content\\\/uploads\\\/2019\\\/10\\\/indian-rupee-money.jpg\",\"keywords\":[\"inr\",\"usd\",\"usd\\\/inr\"],\"articleSection\":[\"INR\",\"USD\"],\"inLanguage\":\"en-US\",\"copyrightYear\":\"2023\",\"copyrightHolder\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/107437-usd-inr-rupee-rises-from-monthly-low\\\/\",\"url\":\"https:\\\/\\\/currencylive.com\\\/news\\\/107437-usd-inr-rupee-rises-from-monthly-low\\\/\",\"name\":\"USD\\\/INR: Rupee rises from monthly low - 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