{"id":114914,"date":"2023-08-23T12:00:23","date_gmt":"2023-08-23T11:00:23","guid":{"rendered":"https:\/\/currencylive.com\/news\/?p=114914"},"modified":"2023-08-24T09:27:16","modified_gmt":"2023-08-24T08:27:16","slug":"107681-usd-inr-rupee-rises-as-inflation-jumps","status":"publish","type":"post","link":"https:\/\/currencylive.com\/news\/107681-usd-inr-rupee-rises-as-inflation-jumps\/","title":{"rendered":"USD\/INR: Rupee rises as inflation jumps"},"content":{"rendered":"<ul>\n<li><strong><a href=\"https:\/\/currencylive.com\/exchange-rate\/inr-indian-rupee-live-exchange-rate\/\">Indian Rupee<\/a> (INR) rises inflation rose 7.44%<\/strong><\/li>\n<li><strong>Food inflation surged 11.5%<\/strong><\/li>\n<li><strong><a href=\"https:\/\/currencylive.com\/exchange-rate\/usd-us-dollar-live-exchange-rate\/\">US Dollar<\/a> (USD) rises versus major peers<\/strong><\/li>\n<li><strong>US PMI data is due<\/strong><\/li>\n<\/ul>\n<p>The US Dollar Indian Rupee (USD\/INR) exchange rate is falling for a sixth straight session. The pair settled -0.06% in the previous session, settling on Tuesday at 83.04. At 11:30 UTC, USD\/INR trades -0.33% at 82.76 and trades in a range of 82.76 to 83.08.<\/p>\n<p>The Rupee is rising as Indian retail inflation rose to its highest level in 15 months owing to surging vegetable and cereal prices. Retail inflation jumped sharply to 7.44% in July, up from 4.87% in the previous month. This was well ahead of the 6.4% forecast by analysts and was the highest level since April 2022.<\/p>\n<p>This marked the first time in five months that the figure breached the Reserve Bank of India\u2019s 2% -6% inflation band.<\/p>\n<p>Food inflation, which accounts for almost half of the consumer price basket, jumped 11.5% in July, compared with 4.55% in June.<\/p>\n<p>The data comes as Indian elections come into focus, which could prompt a more decisive response from Modi\u2019s government. Imports of wheat, for example, may need to restart in order to cool prices.<\/p>\n<p>The US Dollar is falling against the Rupee but rising against its major peers. The US Dollar Index, which measures the greenback versus a basket of major currencies, trades +0.18% at the time of writing at 103.87, extending gains from yesterday.<\/p>\n<p>The US dollar is heading higher despite 10 year treasury yields falling and as investors look ahead to US business activity data (PMIs). The composite PMI, which is widely considered a gauge for business activity is expected to hold steady at 52 in August, which would support the view that the US economy is heading for a soft landing despite the Fed\u2019s most aggressive hiking cycle in decades.<\/p>\n<p>A stronger-than-expected PMI reading could fuel bets that the Fed will hike rates further to tame inflation in an economy that has been showing persistent strength.<\/p>\n<p>The Jackson Hole Symposium kicks off tomorrow with central bankers across the globe meeting to discuss monetary policy.<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Indian Rupee (INR) rises inflation rose 7.44% Food inflation surged 11.5% US Dollar (USD) rises versus major peers US PMI data is due The US Dollar Indian Rupee (USD\/INR) exchange rate is falling for a sixth straight session. The pair settled -0.06% in the previous session, settling on Tuesday at 83.04. At 11:30 UTC, USD\/INR [&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-114914","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 as inflation jumps - 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\/107681-usd-inr-rupee-rises-as-inflation-jumps\/\" \/>\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\\\/107681-usd-inr-rupee-rises-as-inflation-jumps\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/107681-usd-inr-rupee-rises-as-inflation-jumps\\\/\"},\"author\":{\"name\":\"Ileana Ionescu\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#\\\/schema\\\/person\\\/3d5cb0a6a22d357fc0b9ad562f35e75b\"},\"headline\":\"USD\\\/INR: Rupee rises as inflation jumps\",\"datePublished\":\"2023-08-23T11:00:23+00:00\",\"dateModified\":\"2023-08-24T08:27:16+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/107681-usd-inr-rupee-rises-as-inflation-jumps\\\/\"},\"wordCount\":346,\"image\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/107681-usd-inr-rupee-rises-as-inflation-jumps\\\/#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\\\/107681-usd-inr-rupee-rises-as-inflation-jumps\\\/\",\"url\":\"https:\\\/\\\/currencylive.com\\\/news\\\/107681-usd-inr-rupee-rises-as-inflation-jumps\\\/\",\"name\":\"USD\\\/INR: Rupee rises as inflation jumps - 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