{"id":115402,"date":"2023-11-22T12:25:30","date_gmt":"2023-11-22T12:25:30","guid":{"rendered":"https:\/\/currencylive.com\/news\/?p=115402"},"modified":"2023-11-22T12:25:30","modified_gmt":"2023-11-22T12:25:30","slug":"107828-usd-inr-rupee-is-supported-by-ipo-in-flows","status":"publish","type":"post","link":"https:\/\/currencylive.com\/news\/107828-usd-inr-rupee-is-supported-by-ipo-in-flows\/","title":{"rendered":"USD\/INR: Rupee is supported by IPO in-flows"},"content":{"rendered":"<ul>\n<li><strong>Indian Rupee (INR) is supported against a strong USD<\/strong><\/li>\n<li><strong>Tata Technologies IPO opens for subscription<\/strong><\/li>\n<li><strong>US Dollar (USD) rises versus major peers<\/strong><\/li>\n<li><strong>FOMC minutes supported high rates for longer<\/strong><\/li>\n<\/ul>\n<p>The US Dollar Indian Rupee (USD\/INR) exchange rate is holding steady for a second day. The pair rose +0.01% in the previous session, settling on Tuesday at 83.30. At 12:00 UTC, USD\/INR trades -0.01% at 83.30 and trades in a range of 83.25 to 83.34.<\/p>\n<p>The Indian rupee is supported thanks to IPO-related inflows and owing to strength in the Chinese yuan.<\/p>\n<p>The IPO market has ramped up in India, with IPO &#8216;s worth $900 million lined up in the local market this week. These include the IPO of engineering firm Tata Technologies, which has opened for subscription today.<\/p>\n<p>Whilst most Asian currencies were on the back for the Chinese yuan extended gains towards a four-month high.<\/p>\n<p>The US Dollar is rising for a second straight day against its major peers. The US Dollar Index, which measures the greenback versus a basket of major currencies, trades +0.15% at the time of writing at 103.72, after rising 0.1% yesterday.<\/p>\n<p>The US dollar is pushing higher for a second straight day as investors continue digesting the minutes of the latest FOMC minute meeting.<\/p>\n<p>The minutes of the November meeting showed that Federal Reserve officials supported a more careful approach to monetary policy setting and looked to continue to keep rates high for longer until inflation trended more closely to the 2% target.<\/p>\n<p>The minutes suggested that officials were in favour of holding rates steady rather than raising interest rates further but expressed little appetite for cutting interest rates anytime soon.<\/p>\n<p>Policymakers expressed some concern that inflation could remain persistent or even move higher with this in mind, they left the prospect of another interest rate hike on the table.<\/p>\n<p>The market has fully priced in that the Fed will leave interest rates unchanged in December and expects the next move by the central bank to be a rate cut in the second quarter of next year<\/p>\n<p>Looking ahead, attention now turns to a series of U.S. economic data that will come ahead of the Thanksgiving holiday tomorrow. US jobless claims, durable goods orders and Michigan consumer confidence will be under the spotlight.<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Indian Rupee (INR) is supported against a strong USD Tata Technologies IPO opens for subscription US Dollar (USD) rises versus major peers FOMC minutes supported high rates for longer The US Dollar Indian Rupee (USD\/INR) exchange rate is holding steady for a second day. The pair rose +0.01% in the previous session, settling on Tuesday [&hellip;]<\/p>\n","protected":false},"author":163946597,"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-115402","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 is supported by IPO in-flows - 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\/107828-usd-inr-rupee-is-supported-by-ipo-in-flows\/\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Fiona Cincotta\" \/>\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\\\/107828-usd-inr-rupee-is-supported-by-ipo-in-flows\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/107828-usd-inr-rupee-is-supported-by-ipo-in-flows\\\/\"},\"author\":{\"name\":\"Fiona Cincotta\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#\\\/schema\\\/person\\\/8ef0fafb6c93f1204150bb907b42cfec\"},\"headline\":\"USD\\\/INR: Rupee is supported by IPO in-flows\",\"datePublished\":\"2023-11-22T12:25:30+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/107828-usd-inr-rupee-is-supported-by-ipo-in-flows\\\/\"},\"wordCount\":380,\"image\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/107828-usd-inr-rupee-is-supported-by-ipo-in-flows\\\/#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\\\/107828-usd-inr-rupee-is-supported-by-ipo-in-flows\\\/\",\"url\":\"https:\\\/\\\/currencylive.com\\\/news\\\/107828-usd-inr-rupee-is-supported-by-ipo-in-flows\\\/\",\"name\":\"USD\\\/INR: Rupee is supported by IPO in-flows - 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