{"id":115270,"date":"2023-10-30T22:04:12","date_gmt":"2023-10-30T22:04:12","guid":{"rendered":"https:\/\/currencylive.com\/news\/?p=115270"},"modified":"2023-10-31T11:09:39","modified_gmt":"2023-10-31T11:09:39","slug":"107789-usd-inr-rupee-steady-despite-a-weaker-usd-falling-oil","status":"publish","type":"post","link":"https:\/\/currencylive.com\/news\/107789-usd-inr-rupee-steady-despite-a-weaker-usd-falling-oil\/","title":{"rendered":"USD\/INR: Rupee steady despite a weaker USD &#038; falling oil"},"content":{"rendered":"<ul>\n<li><strong><a href=\"https:\/\/currencylive.com\/exchange-rate\/inr-indian-rupee-live-exchange-rate\/\">Indian Rupee<\/a> (INR) holds steady<\/strong><\/li>\n<li><strong>Domestic equities rise and oil falls over 3%<\/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>Fed interest rate meeting on Wednesday<\/strong><\/li>\n<\/ul>\n<p>The US Dollar Indian Rupee (USD\/INR) exchange rate is holding steady on Monday after booking gains across last week. The pair rose +0.14% in the previous week, settling on Friday at 83.26. At 18:00 UTC, USD\/INR trades -0.0% at 83.26 and trades in a range of 83.23 to 83.41.<\/p>\n<p>The Indian Rupee has failed to capitalize on the weaker US dollar and is holding steady after modest gains to domestic equities on Monday and despite oil prices falling.<\/p>\n<p>India&#8217;s blue-chip index closed higher after a boost from heavyweight reliance, which posted a larger-than-expected profit last week. The nifty 50 closed 0.5% higher, while the Sensex rose 0.52%.<\/p>\n<p>Reliance Industries has an almost 10% weighting in the Nifty 50, advanced over 2% after posting a 27.4% increase in consolidated profits in the second quarter.<\/p>\n<p>Separately, oil prices fell, offering support to the Rupee given that India imports almost 80% of its oil needs. At the time of writing, West Texas intermediate trades 3.4% lower as fears ease of the Israel-Hamas conflict widening to include oil-rich nations ease.<\/p>\n<p>The US Dollar is steady against the Rupee but falling versus its major peers. The US Dollar Index, which measures the greenback versus a basket of major currencies, trades at -0.36% at the time of writing at 106.21, after booking gains across last week.<\/p>\n<p>The U.S. dollar is falling lower ahead of the Federal Reserve interest rate decision on Wednesday and after strong gains across the previous week.<\/p>\n<p>The U.S. dollar gained last week after a series of stronger-than-expected data, including US GDP, which smashed forecasts, and strong consumer spending, which has helped fuel bets that the Federal Reserve will keep interest rates high for longer.<\/p>\n<p>Today, the US dollar is just easing in cautious trade ahead of the Fed meeting and as investors digest the latest Dallas manufacturing index, which unexpectedly deteriorated in October.<\/p>\n<p>The Dallas Fed manufacturing index decreased to -19.2 in October down from 18.1 in September defying expectations of arrives to -15.<\/p>\n<p>Given that manufacturing represents around 25% of the US economy, the data is unlikely to impact. the federal reserve&#8217;s decision on Wednesday. The Fed is not expected to hike interest rates but investors will be watching closely to see what they say about the future path for rate hikes.<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Indian Rupee (INR) holds steady Domestic equities rise and oil falls over 3% US Dollar (USD) falls versus major peers Fed interest rate meeting on Wednesday The US Dollar Indian Rupee (USD\/INR) exchange rate is holding steady on Monday after booking gains across last week. The pair rose +0.14% in the previous week, settling on [&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":{"0":"post-115270","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-inr","8":"category-usd","9":"tag-inr","10":"tag-usd","11":"tag-usd-inr"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.6 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>USD\/INR: Rupee steady despite a weaker USD &amp; falling oil - 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\/107789-usd-inr-rupee-steady-despite-a-weaker-usd-falling-oil\/\" \/>\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\\\/107789-usd-inr-rupee-steady-despite-a-weaker-usd-falling-oil\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/107789-usd-inr-rupee-steady-despite-a-weaker-usd-falling-oil\\\/\"},\"author\":{\"name\":\"Ileana Ionescu\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#\\\/schema\\\/person\\\/3d5cb0a6a22d357fc0b9ad562f35e75b\"},\"headline\":\"USD\\\/INR: Rupee steady despite a weaker USD &#038; 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