{"id":114575,"date":"2023-06-13T12:00:19","date_gmt":"2023-06-13T11:00:19","guid":{"rendered":"https:\/\/currencylive.com\/news\/?p=114575"},"modified":"2023-06-19T09:20:52","modified_gmt":"2023-06-19T08:20:52","slug":"107599-usd-inr-rupee-rises-after-pboc-cuts-short-term-interest-rates","status":"publish","type":"post","link":"https:\/\/currencylive.com\/news\/107599-usd-inr-rupee-rises-after-pboc-cuts-short-term-interest-rates\/","title":{"rendered":"USD\/INR: Rupee rises after PBoC cuts short-term interest rates"},"content":{"rendered":"<ul>\n<li><strong><a href=\"https:\/\/currencylive.com\/exchange-rate\/inr-indian-rupee-live-exchange-rate\/\">Indian Rupee<\/a> (INR) rises amid a risk on mood<\/strong><\/li>\n<li><strong>China cuts interest rates<\/strong><\/li>\n<li><strong><a href=\"https:\/\/currencylive.com\/exchange-rate\/usd-us-dollar-live-exchange-rate\/\">US Dollar<\/a> (USD) falls ahead of inflation data<\/strong><\/li>\n<li><strong>US CPI is set to cool to 4.1%<\/strong><\/li>\n<\/ul>\n<p>The US Dollar Indian Rupee (USD\/INR) exchange rate is falling for a second straight day. The pair fell -0.07% in the previous session, settling on Monday at 82.39. At 10:30 UTC, USD\/INR trades -0.03% at 82.36 and trades in a range of 82.33 to 82.49.<\/p>\n<p>The rupee is heading higher amid an upbeat market mood following a rate cut by the Chinese central bank. The PBoC cuts its short-term interest rate for the first time in 10 months in order to support the economy, which has been showing signs of slowing. In fact, recent data from China suggests that the post-pandemic recovery is stalling.<\/p>\n<p>The move has lifted the market mood, boosting demand for riskier assets and currencies such as the Rupee.<\/p>\n<p>The US Dollar is falling across the board. The US Dollar Index, which measures the greenback versus a basket of major currencies, trades -at 0.34% at the time of writing at 102.88, after trading flat in the previous session.<\/p>\n<p>The US dollar is falling amid an upbeat market mood and as investors look ahead to the release of US inflation data. Inflation, as measured by the consumer price index, is expected to cool to 4.1% year on year in May, down from 4.9% in April 2-year low. This is also down considerably from the peak inflation rate of 9.1% last summer.<\/p>\n<p>Core inflation is expected to slow from 5.5% two 5.3%. If core inflation doesn&#8217;t cool in line with expectations, this could unnerve the market.<\/p>\n<p>The data comes as the Federal Reserve is set to meet for its two-day monetary policy meeting with a rate decision expected tomorrow. The Fed is widely expected to skip a June rate hike but will leave the door open for another interest rate increase in July.<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Indian Rupee (INR) rises amid a risk on mood China cuts interest rates US Dollar (USD) falls ahead of inflation data US CPI is set to cool to 4.1% The US Dollar Indian Rupee (USD\/INR) exchange rate is falling for a second straight day. The pair fell -0.07% in the previous session, settling on Monday [&hellip;]<\/p>\n","protected":false},"author":163946598,"featured_media":82966,"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-114575","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 after PBoC cuts short-term interest rates - 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\/107599-usd-inr-rupee-rises-after-pboc-cuts-short-term-interest-rates\/\" \/>\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\\\/107599-usd-inr-rupee-rises-after-pboc-cuts-short-term-interest-rates\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/107599-usd-inr-rupee-rises-after-pboc-cuts-short-term-interest-rates\\\/\"},\"author\":{\"name\":\"Ileana Ionescu\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#\\\/schema\\\/person\\\/3d5cb0a6a22d357fc0b9ad562f35e75b\"},\"headline\":\"USD\\\/INR: Rupee rises after PBoC cuts short-term interest rates\",\"datePublished\":\"2023-06-13T11:00:19+00:00\",\"dateModified\":\"2023-06-19T08:20:52+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/107599-usd-inr-rupee-rises-after-pboc-cuts-short-term-interest-rates\\\/\"},\"wordCount\":323,\"image\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/107599-usd-inr-rupee-rises-after-pboc-cuts-short-term-interest-rates\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/currencylive.com\\\/news\\\/wp-content\\\/uploads\\\/2019\\\/12\\\/inr-indian-rupee-exchange-rates-gbp.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\\\/107599-usd-inr-rupee-rises-after-pboc-cuts-short-term-interest-rates\\\/\",\"url\":\"https:\\\/\\\/currencylive.com\\\/news\\\/107599-usd-inr-rupee-rises-after-pboc-cuts-short-term-interest-rates\\\/\",\"name\":\"USD\\\/INR: Rupee rises after PBoC cuts short-term interest rates - 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