{"id":114022,"date":"2023-03-06T11:29:44","date_gmt":"2023-03-06T11:29:44","guid":{"rendered":"https:\/\/currencylive.com\/news\/?p=114022"},"modified":"2023-03-07T05:59:11","modified_gmt":"2023-03-07T05:59:11","slug":"107463-usd-inr-rupee-slips-after-strong-gains-last-week","status":"publish","type":"post","link":"https:\/\/currencylive.com\/news\/107463-usd-inr-rupee-slips-after-strong-gains-last-week\/","title":{"rendered":"USD\/INR: Rupee slips after strong gains last week"},"content":{"rendered":"<ul>\n<li><strong><a href=\"https:\/\/currencylive.com\/exchange-rate\/inr-indian-rupee-live-exchange-rate\/\">Indian Rupee<\/a> (INR) fell to a monthly low<\/strong><\/li>\n<li><strong>China\u2019s GDP is expected to rise 5% this year<\/strong><\/li>\n<li><strong><a href=\"https:\/\/currencylive.com\/exchange-rate\/usd-us-dollar-live-exchange-rate\/\">US Dollar<\/a> (USD) falls versus major peers<\/strong><\/li>\n<li><strong>US factory orders are due later<\/strong><\/li>\n<\/ul>\n<p>The US Dollar Indian Rupee (USD\/INR) exchange rate is rising at the start of the week after steep losses last week. The pair fell -1.48% in the previous week, settling on Friday at 81.68. At 10:00 UTC, USD\/INR trades -0.07% at 81.66 and trades in a range of 81.65 to 81.89.<\/p>\n<p>The Rupee is consolidating after strong gains last week, briefly rising to 1 man high. The Rupee, along with other Asian currencies, were supported on Monday by improved risk sentiment, with Asian equity markets opening the week on a positive note.<\/p>\n<p>Weaker data from China has been shrugged off. The Chinese government has set a GDP target for 2023 of around 5%, the lowest in history and below forecasts of 5.3% growth this year.<\/p>\n<p>Meanwhile oil prices were heading lower after the announcement as slower growth in the world\u2019s largest exporter could hurt the oil demand outlook.<\/p>\n<p>The US Dollar is trading higher versus the Rupee but is falling versus its major peers. The US Dollar Index, which measures the greenback versus a basket of major currencies, trades +0.04% at the time of writing at 104.47, extending losses from last week.<\/p>\n<p>The US dollar is falling versus its major peers on Monday as investors cautiously await testimony from Federal Reserve chair Jerome Powell and ahead of Friday&#8217;s key nonfarm payroll reports. These two events will give the market a steer on where interest rates could be going from here.<\/p>\n<p>The market appears to be coming to terms with the fact that the Federal Reserve will be raising interest rates higher for longer not, inflation is stickier than originally expected, and as data shows that the US economy is holding up well despite rising interest rates.<\/p>\n<p>The market is currently pricing in a 72% probability that the Fed will raise rates by 25 basis points at the March meeting.<\/p>\n<p>Today attention is on US factory orders which are expected to fall 1.8% after rising 8% in the previous month.<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Indian Rupee (INR) fell to a monthly low China\u2019s GDP is expected to rise 5% this year US Dollar (USD) falls versus major peers US factory orders are due later The US Dollar Indian Rupee (USD\/INR) exchange rate is rising at the start of the week after steep losses last week. The pair fell -1.48% [&hellip;]<\/p>\n","protected":false},"author":163946598,"featured_media":76446,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1693,1381],"tags":[1666,3471,1398],"class_list":["post-114022","post","type-post","status-publish","format-standard","has-post-thumbnail","category-inr","category-usd","tag-inr","tag-us-inr","tag-usd"],"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 slips after strong gains last week - 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\/107463-usd-inr-rupee-slips-after-strong-gains-last-week\/\" \/>\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\\\/107463-usd-inr-rupee-slips-after-strong-gains-last-week\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/107463-usd-inr-rupee-slips-after-strong-gains-last-week\\\/\"},\"author\":{\"name\":\"Ileana Ionescu\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#\\\/schema\\\/person\\\/3d5cb0a6a22d357fc0b9ad562f35e75b\"},\"headline\":\"USD\\\/INR: Rupee slips after strong gains last week\",\"datePublished\":\"2023-03-06T11:29:44+00:00\",\"dateModified\":\"2023-03-07T05:59:11+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/107463-usd-inr-rupee-slips-after-strong-gains-last-week\\\/\"},\"wordCount\":357,\"image\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/107463-usd-inr-rupee-slips-after-strong-gains-last-week\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/currencylive.com\\\/news\\\/wp-content\\\/uploads\\\/2019\\\/11\\\/GBP-INR-Pair-Trading-Flat-in-Early-Session.jpg\",\"keywords\":[\"inr\",\"us\\\/inr\",\"usd\"],\"articleSection\":[\"INR\",\"USD\"],\"inLanguage\":\"en-US\",\"copyrightYear\":\"2023\",\"copyrightHolder\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/107463-usd-inr-rupee-slips-after-strong-gains-last-week\\\/\",\"url\":\"https:\\\/\\\/currencylive.com\\\/news\\\/107463-usd-inr-rupee-slips-after-strong-gains-last-week\\\/\",\"name\":\"USD\\\/INR: Rupee slips after strong gains last week - 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