{"id":114203,"date":"2023-04-04T17:52:26","date_gmt":"2023-04-04T16:52:26","guid":{"rendered":"https:\/\/currencylive.com\/news\/?p=114203"},"modified":"2023-04-06T11:00:58","modified_gmt":"2023-04-06T10:00:58","slug":"usd-inr-rupee-falls-as-world-bank-downwardly-revises-gdp-forecast","status":"publish","type":"post","link":"https:\/\/currencylive.com\/news\/usd-inr-rupee-falls-as-world-bank-downwardly-revises-gdp-forecast\/","title":{"rendered":"USD\/INR: Rupee falls as World Bank downwardly revises GDP forecast"},"content":{"rendered":"<ul>\n<li><strong><a href=\"https:\/\/currencylive.com\/exchange-rate\/inr-indian-rupee-live-exchange-rate\/\">Indian Rupee<\/a> (INR) after two days of gains<\/strong><\/li>\n<li><strong>World Bank sees 6.3% growth this fiscal 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 jobs opening drop to a two-year low<\/strong><\/li>\n<\/ul>\n<p>The US Dollar Indian Rupee (USD\/INR) exchange rate is falling after two days of gains. The pair rose +0.04% in the previous session, settling at 82.19. At 17:00 UTC, USD\/INR trades -0.05% at 82.15 and trades in a range of 82.08 to 82.30.<\/p>\n<p>The World Bank has lowered its growth forecast for India\u2019s current fiscal year which started on April 1<sup>st<\/sup>, to 6.3% from 6.6% as it considers that high borrowing costs could hurt consumption. The Reserve Bank of India has raised interest rates by 250 basis points since last May.<\/p>\n<p>The World Bank report said \u201cRising borrowing costs and slower income growth will weigh on private consumption growth.<\/p>\n<p>Separately oil prices eased slightly after strong gains yesterday following the announcement by OPEC that it will cut oil production by 1.1 million barrels. Today recession fears are pulling oil off recent highs.<\/p>\n<p>The US Dollar is rising against the Rupee but falling against its major peers. The US Dollar Index, which measures the greenback versus a basket of major currencies, trades -0.4% at the time of writing at 101.63, extending losses from the previous session.<\/p>\n<p>The US dollar is heading southwards after weak data raised fears that the US economy is heading towards a recession, fueling bets that the Federal Reserve will pause rate hikes at the May meeting.<\/p>\n<p>US job openings fell to the lowest level in nearly two years, suggesting that the US labour market is finally cooling and factory orders declined for a second straight month.<\/p>\n<p>The JOLTS job openings data dropped to 9.9 million in February, down from 10.5 million in January and below the 10.4 million forecast. This is the first time in two years that the number of job openings has fallen below 10 million.<\/p>\n<p>Factory orders were also weaker than expected dropping -0.7%\u00a0 MoM in February, after falling -2.1% in January. Expectations had been for a decline -0.5%.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Indian Rupee (INR) after two days of gains World Bank sees 6.3% growth this fiscal year US Dollar (USD) falls versus major peers US jobs opening drop to a two-year low The US Dollar Indian Rupee (USD\/INR) exchange rate is falling after two days of gains. The pair rose +0.04% in the previous session, settling [&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-114203","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 falls as World Bank downwardly revises GDP forecast - 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\/usd-inr-rupee-falls-as-world-bank-downwardly-revises-gdp-forecast\/\" \/>\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\\\/usd-inr-rupee-falls-as-world-bank-downwardly-revises-gdp-forecast\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/usd-inr-rupee-falls-as-world-bank-downwardly-revises-gdp-forecast\\\/\"},\"author\":{\"name\":\"Ileana Ionescu\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#\\\/schema\\\/person\\\/3d5cb0a6a22d357fc0b9ad562f35e75b\"},\"headline\":\"USD\\\/INR: Rupee falls as World Bank downwardly revises GDP forecast\",\"datePublished\":\"2023-04-04T16:52:26+00:00\",\"dateModified\":\"2023-04-06T10:00:58+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/usd-inr-rupee-falls-as-world-bank-downwardly-revises-gdp-forecast\\\/\"},\"wordCount\":344,\"image\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/usd-inr-rupee-falls-as-world-bank-downwardly-revises-gdp-forecast\\\/#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\\\/usd-inr-rupee-falls-as-world-bank-downwardly-revises-gdp-forecast\\\/\",\"url\":\"https:\\\/\\\/currencylive.com\\\/news\\\/usd-inr-rupee-falls-as-world-bank-downwardly-revises-gdp-forecast\\\/\",\"name\":\"USD\\\/INR: Rupee falls as World Bank downwardly revises GDP forecast - 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