{"id":114817,"date":"2023-07-25T11:53:15","date_gmt":"2023-07-25T10:53:15","guid":{"rendered":"https:\/\/currencylive.com\/news\/?p=114817"},"modified":"2023-07-26T09:18:05","modified_gmt":"2023-07-26T08:18:05","slug":"107661-usd-inr-rupee-slips-despite-chinas-stimulus-pledge","status":"publish","type":"post","link":"https:\/\/currencylive.com\/news\/107661-usd-inr-rupee-slips-despite-chinas-stimulus-pledge\/","title":{"rendered":"USD\/INR: Rupee slips despite China\u2019s stimulus pledge"},"content":{"rendered":"<ul>\n<li><strong><a href=\"https:\/\/currencylive.com\/exchange-rate\/inr-indian-rupee-live-exchange-rate\/\">Indian Rupee<\/a> (INR) falls after gains yesterday<\/strong><\/li>\n<li><strong>Beijing pledges more stimulus to support China\u2019s economy<\/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 data is due<\/strong><\/li>\n<\/ul>\n<p>The US Dollar Indian Rupee (USD\/INR) exchange rate is rising after losses in the previous session. The pair fell -0.24% yesterday, settling on Monday at 81.79. At 10:30 UTC, USD\/INR trades +0.05% at 81.87 and trades in a range of 81.66 to 81.92.<\/p>\n<p>The Indian rupee is edging lower despite strength in Asian markets after China pledged more stimulus to support the economy as the post-pandemic recovery falters.<\/p>\n<p>Meanwhile, Indian domestic equities were largely flat on Tuesday amid losses in heavyweight ITC after its demerger update offset gains in metal stocks. Metal stocks rose following Beijing\u2019s promise to provide more support to the Chinese economy.<\/p>\n<p>Oil prices trade at a three-month high, with West Texas intermediate heading towards $80 a barrel. Optimism surrounding Chinese stimulus and tighter supply from Russia and Saudi Arabia by supporting oil prices.<\/p>\n<p>The US Dollar is rising against the Rupee but is falling against its major peers. The US Dollar Index, which measures the greenback versus a basket of major currencies, trades at -0.18% at the time of writing at 101.23, after six straight days of gains.<\/p>\n<p>The US dollar is falling lower after solid gains across the previous week as investors look ahead to the start of the two-day FOMC meeting. The market is fully pricing in a 25 basis point rate hike from the Federal Reserve tomorrow. However, the market expects this to be the final rate hike in the US this tightening cycle.<\/p>\n<p>Before the meeting, US Consumer confidence data will be in focus and is expected to rise in July to 111.8, up from 109.7. Stronger consumer confidence often indicates a stronger willingness in consumers to spend and therefore is considered a bullish signal for the economy.<\/p>\n<p>The data could add to expectations that the US economy will avoid a recession, as data has broadly shown that the US economy is proving resilient.<\/p>\n<p>Yesterday US PMI data was mixed, with the manufacturing sector contracting at a slower pace but growth in the service sector slowing.<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Indian Rupee (INR) falls after gains yesterday Beijing pledges more stimulus to support China\u2019s economy US Dollar (USD) falls versus major peers US consumer confidence data is due The US Dollar Indian Rupee (USD\/INR) exchange rate is rising after losses in the previous session. The pair fell -0.24% yesterday, settling on Monday at 81.79. At [&hellip;]<\/p>\n","protected":false},"author":163946598,"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-114817","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 slips despite China\u2019s stimulus pledge - 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\/107661-usd-inr-rupee-slips-despite-chinas-stimulus-pledge\/\" \/>\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\\\/107661-usd-inr-rupee-slips-despite-chinas-stimulus-pledge\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/107661-usd-inr-rupee-slips-despite-chinas-stimulus-pledge\\\/\"},\"author\":{\"name\":\"Ileana Ionescu\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#\\\/schema\\\/person\\\/3d5cb0a6a22d357fc0b9ad562f35e75b\"},\"headline\":\"USD\\\/INR: Rupee slips despite China\u2019s stimulus pledge\",\"datePublished\":\"2023-07-25T10:53:15+00:00\",\"dateModified\":\"2023-07-26T08:18:05+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/107661-usd-inr-rupee-slips-despite-chinas-stimulus-pledge\\\/\"},\"wordCount\":365,\"image\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/107661-usd-inr-rupee-slips-despite-chinas-stimulus-pledge\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/currencylive.com\\\/news\\\/wp-content\\\/uploads\\\/2019\\\/10\\\/gbp-inr.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\\\/107661-usd-inr-rupee-slips-despite-chinas-stimulus-pledge\\\/\",\"url\":\"https:\\\/\\\/currencylive.com\\\/news\\\/107661-usd-inr-rupee-slips-despite-chinas-stimulus-pledge\\\/\",\"name\":\"USD\\\/INR: Rupee slips despite China\u2019s stimulus pledge - 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