{"id":114659,"date":"2023-06-27T11:49:10","date_gmt":"2023-06-27T10:49:10","guid":{"rendered":"https:\/\/currencylive.com\/news\/?p=114659"},"modified":"2023-06-27T11:49:10","modified_gmt":"2023-06-27T10:49:10","slug":"usd-inr-rupee-is-modestly-weaker-the-current-account-deficit-narrowed","status":"publish","type":"post","link":"https:\/\/currencylive.com\/news\/usd-inr-rupee-is-modestly-weaker-the-current-account-deficit-narrowed\/","title":{"rendered":"USD\/INR: Rupee is modestly weaker; the current account deficit narrowed"},"content":{"rendered":"<ul>\n<li><strong><a href=\"https:\/\/currencylive.com\/exchange-rate\/inr-indian-rupee-live-exchange-rate\/\">Indian Rupee<\/a> (INR) edges lower after modest gains yesterday<\/strong><\/li>\n<li><strong>India\u2019s current account deficit narrowed to $1.3 billion<\/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 consumer confidence, durable goods &amp; housing data due<\/strong><\/li>\n<\/ul>\n<p>The US Dollar Indian Rupee (USD\/INR) exchange rate is edging higher after small losses in the previous session. The pair fell -0.02% yesterday, settling on Monday at 81.97. At 10:30 UTC, USD\/INR trades +0.03% at 82.00 and trades in a range of 81.94 to 82.04.<\/p>\n<p>The Reserve Bank of India said that India\u2019s current account deficit narrowed significantly in the January to March quarter, helped by an increase in services exports.<\/p>\n<p>The current account was $1.3 billion or 0.2% of GDP in the fourth fiscal quarter, compared to a deficit of $16.8 billion or 2% of GDP in the previous quarter of October to December. In the same quarter a year earlier the deficit had been $13.4 billion.<\/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 at -0.2% at the time of writing at 102.51.<\/p>\n<p>The US dollar is falling for a second straight day amid an improving market mood and as investors look ahead to the release of US data points.<\/p>\n<p>US durable goods orders are expected to fall 1% month on month in May after rising 1.1% in April. Meanwhile, consumer confidence is expected to take higher in June to 104 up from 102.3. Last month Consumer confidence dipped to a six-month low as views on the US labour market softened. Stronger-than-expected consumer confidence could lift the USD.<\/p>\n<p>Data regarding EU S housing sector will also be in focus with the release of new home sales as well as the house price index.<\/p>\n<p>This data comes just a week after EU S Federal Reserve chair Jerome Powell pointed to two more interest rate hikes across the year. The market is pricing in just one more rate hike most likely in July.<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Indian Rupee (INR) edges lower after modest gains yesterday India\u2019s current account deficit narrowed to $1.3 billion US Dollar (USD) falls versus major peers US consumer confidence, durable goods &amp; housing data due The US Dollar Indian Rupee (USD\/INR) exchange rate is edging higher after small losses in the previous session. The pair fell -0.02% [&hellip;]<\/p>\n","protected":false},"author":163946597,"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-114659","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 is modestly weaker; the current account deficit narrowed - 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-is-modestly-weaker-the-current-account-deficit-narrowed\/\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Fiona Cincotta\" \/>\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-is-modestly-weaker-the-current-account-deficit-narrowed\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/usd-inr-rupee-is-modestly-weaker-the-current-account-deficit-narrowed\\\/\"},\"author\":{\"name\":\"Fiona Cincotta\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#\\\/schema\\\/person\\\/8ef0fafb6c93f1204150bb907b42cfec\"},\"headline\":\"USD\\\/INR: Rupee is modestly weaker; 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