{"id":114959,"date":"2023-08-31T15:26:08","date_gmt":"2023-08-31T14:26:08","guid":{"rendered":"https:\/\/currencylive.com\/news\/?p=114959"},"modified":"2023-09-01T10:13:40","modified_gmt":"2023-09-01T09:13:40","slug":"10789-usd-inr-rupee-falls-despite-gdp-growth-of-7-8","status":"publish","type":"post","link":"https:\/\/currencylive.com\/news\/10789-usd-inr-rupee-falls-despite-gdp-growth-of-7-8\/","title":{"rendered":"USD\/INR: Rupee falls despite GDP growth of 7.8%"},"content":{"rendered":"<ul>\n<li><strong>Indian Rupee (INR) is falling for a 2<sup>nd<\/sup> day<\/strong><\/li>\n<li><strong>Indian GDP rises to a yearly high<\/strong><\/li>\n<li><strong>US Dollar (USD) rises after inflation ticks higher<\/strong><\/li>\n<li><strong>US jobless claims fall to 228k<\/strong><\/li>\n<\/ul>\n<p>The US Dollar Indian Rupee (USD\/INR) exchange rate is rising for a second straight day. The pair rose +0.04% in the previous session, settling on Wednesday at 82.60. At 14:30 UTC, USD\/INR trades +0.07% at 83.66 and trades in a range of 82.57 to 82.78.<\/p>\n<p>The Rupee is showing resilience against the USD after upbeat Indin GDP data. Figures showed that the Indian economy grew 7.8% in the April to June quarter, its fastest pace of growth in a year. This was up from 6.1% growth in the previous quarter and confirms that India is one of the fastest-growing major economies, particularly given the slowdown being seen in China.<\/p>\n<p>Meanwhile, oil prices were pushing higher for a sixth straight day as supply concerns overshadowed demand outlook worries. WTI trades over 1% higher at the time of writing after EIA data showed a 10.6 million barrel draw, much larger than expected and as Saudi Arabia is increasingly expected to extend its 1 million barrel a day output cut for another month.<\/p>\n<p>The US Dollar is rising across the board. The US Dollar Index, which measures the greenback versus a basket of major currencies, trades at +0.5% at the time of writing at 103.67, snapping a 3-day winning run.<\/p>\n<p>The USD is pushing higher as investors digest the latest round of scene-setting data ahead of the Federal Reserve\u2019s September FOMC meeting.<\/p>\n<p>US core PCE, the Federal Reserve\u2019s preferred measure for inflation, rose to 4.2% YoY in July, up from 4.1% and in line with expectations. Meanwhile, US spending surged 0.8%, up from 0.5% but income rose a less than expected 0.2%.<\/p>\n<p>Separately, US jobless claims unexpectedly fell to 228k, down from 232k and below the 235k forecast. The data comes after US jobs data earlier in the week pointed to a slight cooling in the jobs market and ahead of the US non-farm payroll report tomorrow.<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Indian Rupee (INR) is falling for a 2nd day Indian GDP rises to a yearly high US Dollar (USD) rises after inflation ticks higher US jobless claims fall to 228k The US Dollar Indian Rupee (USD\/INR) exchange rate is rising for a second straight day. The pair rose +0.04% in the previous session, settling on [&hellip;]<\/p>\n","protected":false},"author":163946598,"featured_media":82159,"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-114959","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 despite GDP growth of 7.8% - 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\/10789-usd-inr-rupee-falls-despite-gdp-growth-of-7-8\/\" \/>\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\\\/10789-usd-inr-rupee-falls-despite-gdp-growth-of-7-8\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/10789-usd-inr-rupee-falls-despite-gdp-growth-of-7-8\\\/\"},\"author\":{\"name\":\"Ileana Ionescu\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#\\\/schema\\\/person\\\/3d5cb0a6a22d357fc0b9ad562f35e75b\"},\"headline\":\"USD\\\/INR: Rupee falls despite GDP growth of 7.8%\",\"datePublished\":\"2023-08-31T14:26:08+00:00\",\"dateModified\":\"2023-09-01T09:13:40+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/10789-usd-inr-rupee-falls-despite-gdp-growth-of-7-8\\\/\"},\"wordCount\":338,\"image\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/10789-usd-inr-rupee-falls-despite-gdp-growth-of-7-8\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/currencylive.com\\\/news\\\/wp-content\\\/uploads\\\/2019\\\/11\\\/USD-INR-Indian-Rupee-Pares-Losses-after-Inflation-Surprise.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\\\/10789-usd-inr-rupee-falls-despite-gdp-growth-of-7-8\\\/\",\"url\":\"https:\\\/\\\/currencylive.com\\\/news\\\/10789-usd-inr-rupee-falls-despite-gdp-growth-of-7-8\\\/\",\"name\":\"USD\\\/INR: Rupee falls despite GDP growth of 7.8% - 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