{"id":115104,"date":"2023-09-27T11:32:40","date_gmt":"2023-09-27T10:32:40","guid":{"rendered":"https:\/\/currencylive.com\/news\/?p=115104"},"modified":"2023-09-28T09:15:04","modified_gmt":"2023-09-28T08:15:04","slug":"107730-usd-inr-rupee-edges-lower-despite-rising-oil-prices","status":"publish","type":"post","link":"https:\/\/currencylive.com\/news\/107730-usd-inr-rupee-edges-lower-despite-rising-oil-prices\/","title":{"rendered":"USD\/INR: Rupee edges lower despite rising oil prices"},"content":{"rendered":"<ul>\n<li><strong><a href=\"https:\/\/currencylive.com\/exchange-rate\/inr-indian-rupee-live-exchange-rate\/\">Indian Rupee<\/a> (INR) rises after 2-days of losses<\/strong><\/li>\n<li><strong>Indian equities fall to a 3-week low<\/strong><\/li>\n<li><strong><a href=\"https:\/\/currencylive.com\/exchange-rate\/usd-us-dollar-live-exchange-rate\/\">US Dollar<\/a> (USD) rises for a 5<sup>th<\/sup> straight day<\/strong><\/li>\n<li><strong>US durable goods orders in focus<\/strong><\/li>\n<\/ul>\n<p>The US Dollar Indian Rupee (USD\/INR) exchange rate is edging lower, snapping a two-day winning run. The pair rose 0.12% in the previous session, settling on Tuesday at 83.23. At 10:30 UTC, USD\/INR trades -0.02% at 83.21 and trades in a range of 83.18 to 83.31.<\/p>\n<p>The rupiah is hovering around record loads as domestic equities fall to the lowest level in three weeks and as oil prices push higher.<\/p>\n<p>Domestic equities are falling, dragged down by losses in banks and financial companies, as worries over higher interest rates and the potential impact on growth continue to hurt investor sentiment globally. Both the nifty 50 and the Sensex trade 0.5 and 0.6% lower, respectively<\/p>\n<p>Meanwhile, rising oil prices are also a problem for India, which imports over 80% of its oil needs. Oil prices of pushback over $90 a barrel amid ongoing concerns of tight supply.<\/p>\n<p>The US Dollar is falling against the Rupee but rising versus major peers. The US Dollar Index, which measures the greenback versus a basket of major currencies, trades +0.02% at the time of writing at 106.03, as it extends gains for a fifth straight session.<\/p>\n<p>The US dollar is pushing higher for a fifth straight day, hitting a 10-month peak against a basket of major Pairs.<\/p>\n<p>The US dollar has been supported by the prospect of interest rates remaining higher for longer as the Federal Reserve continues with its struggles against inflation.<\/p>\n<p>The Minneapolis Fed President Neel Kashkari said earlier in the week that he supports another interest rate hike this year and sees rates remaining higher for longer across next year.<\/p>\n<p>His comments much those of Federal Reserve chair Jerome Powell at the FOMC press conference last week, who also said that he doesn&#8217;t see a soft landing as the base case scenario.<\/p>\n<p>Data yesterday showed that U.S. consumer confidence felt lightly 2103 in September, down from an upwardly revised 108.7 in August, a four-month low weighed down by persistent concerns over higher prices and rising fears of recession.<\/p>\n<p>Durable goods orders are due to be released today and are expected to show a 0.5% decline month on month after falling 5.2% in the previous month<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Indian Rupee (INR) rises after 2-days of losses Indian equities fall to a 3-week low US Dollar (USD) rises for a 5th straight day US durable goods orders in focus The US Dollar Indian Rupee (USD\/INR) exchange rate is edging lower, snapping a two-day winning run. The pair rose 0.12% in the previous session, settling [&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-115104","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 edges lower despite rising oil prices - 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\/107730-usd-inr-rupee-edges-lower-despite-rising-oil-prices\/\" \/>\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\\\/107730-usd-inr-rupee-edges-lower-despite-rising-oil-prices\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/107730-usd-inr-rupee-edges-lower-despite-rising-oil-prices\\\/\"},\"author\":{\"name\":\"Ileana Ionescu\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#\\\/schema\\\/person\\\/3d5cb0a6a22d357fc0b9ad562f35e75b\"},\"headline\":\"USD\\\/INR: Rupee edges lower despite rising oil prices\",\"datePublished\":\"2023-09-27T10:32:40+00:00\",\"dateModified\":\"2023-09-28T08:15:04+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/107730-usd-inr-rupee-edges-lower-despite-rising-oil-prices\\\/\"},\"wordCount\":388,\"image\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/107730-usd-inr-rupee-edges-lower-despite-rising-oil-prices\\\/#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\\\/107730-usd-inr-rupee-edges-lower-despite-rising-oil-prices\\\/\",\"url\":\"https:\\\/\\\/currencylive.com\\\/news\\\/107730-usd-inr-rupee-edges-lower-despite-rising-oil-prices\\\/\",\"name\":\"USD\\\/INR: Rupee edges lower despite rising oil prices - 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