{"id":115659,"date":"2024-01-23T12:00:42","date_gmt":"2024-01-23T12:00:42","guid":{"rendered":"https:\/\/currencylive.com\/news\/?p=115659"},"modified":"2024-01-24T10:06:50","modified_gmt":"2024-01-24T10:06:50","slug":"108027-usd-inr-rupee-falls-as-chinese-stocks-plunge","status":"publish","type":"post","link":"https:\/\/currencylive.com\/news\/108027-usd-inr-rupee-falls-as-chinese-stocks-plunge\/","title":{"rendered":"USD\/INR: Rupee falls as Chinese stocks plunge"},"content":{"rendered":"<ul>\n<li><strong>Indian Rupee (INR) tracks Asian currencies lower<\/strong><\/li>\n<li><strong>CSI 300 hits a 5 year low<\/strong><\/li>\n<li><strong>US Dollar (USD) falls versus major peers<\/strong><\/li>\n<li><strong>US GDP &amp; inflation data are due this week<\/strong><\/li>\n<\/ul>\n<p>The US Dollar Indian Rupee (USD\/INR) exchange rate is rising after losses in the previous session. The pair fell -0.03% yesterday, settling on Monday at 83.10. At 10:00 UTC, USD\/INR trades +0.05% at 83.13 and trades in a range of 83.06 to 83.15.<\/p>\n<p>The Indian Rupee trades lower as it tracks its Asian peers southwards despite reports of a potential support package in China as the authorities consider rescuing its plunging stock market.<\/p>\n<p>Chinese authorities are considering a package of measures of around 2 trillion yuan ( $278 billion) as part of a stabilization fund to buy shares.<\/p>\n<p>The deliberations come as Chinese authorities attempt to stem a sell-off that has sent the CSI 300 index to a five-year low this week. However, historically, state buying alone has had limited success in turning market sentiment around.<\/p>\n<p>The US Dollar is rising against the Rupee but is falling versus its major peers. The US Dollar Index, which measures the greenback versus a basket of major currencies, trades -0.11% at the time of writing at 103.21, after gains in the previous session.<\/p>\n<p>The US dollar is falling versus its major peers but continues to hover around a one-month high.<\/p>\n<p>Investors are trading cautiously ahead of key U.S. economic data later in the week, which includes the fourth quarter GDP reading and core PCE, the Federal Reserve&#8217;s preferred gauge for inflation.<\/p>\n<p>The weaker US dollar comes after the greenback gained almost 1% last week after stronger-than-forecast U.S. economic data and hawkish comments from Federal Reserve officials pushed back expectations of a March rate cut.<\/p>\n<p>According to the CME fed watch tool, the market is now pricing in less than a 50% probability of the Federal Reserve cutting interest rates in March. This probability is half what it was at the end of last year.<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Indian Rupee (INR) tracks Asian currencies lower CSI 300 hits a 5 year low US Dollar (USD) falls versus major peers US GDP &amp; inflation data are due this week The US Dollar Indian Rupee (USD\/INR) exchange rate is rising after losses in the previous session. The pair fell -0.03% yesterday, settling on Monday at [&hellip;]<\/p>\n","protected":false},"author":163946598,"featured_media":47269,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1693,1381],"tags":[1666,3490,1862],"class_list":["post-115659","post","type-post","status-publish","format-standard","has-post-thumbnail","category-inr","category-usd","tag-inr","tag-ud","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 as Chinese stocks plunge - 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\/108027-usd-inr-rupee-falls-as-chinese-stocks-plunge\/\" \/>\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\\\/108027-usd-inr-rupee-falls-as-chinese-stocks-plunge\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/108027-usd-inr-rupee-falls-as-chinese-stocks-plunge\\\/\"},\"author\":{\"name\":\"Ileana Ionescu\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#\\\/schema\\\/person\\\/3d5cb0a6a22d357fc0b9ad562f35e75b\"},\"headline\":\"USD\\\/INR: Rupee falls as Chinese stocks plunge\",\"datePublished\":\"2024-01-23T12:00:42+00:00\",\"dateModified\":\"2024-01-24T10:06:50+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/108027-usd-inr-rupee-falls-as-chinese-stocks-plunge\\\/\"},\"wordCount\":330,\"image\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/108027-usd-inr-rupee-falls-as-chinese-stocks-plunge\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/currencylive.com\\\/news\\\/wp-content\\\/uploads\\\/2019\\\/10\\\/indian-rupee-money.jpg\",\"keywords\":[\"inr\",\"ud\",\"usd\\\/inr\"],\"articleSection\":[\"INR\",\"USD\"],\"inLanguage\":\"en-US\",\"copyrightYear\":\"2024\",\"copyrightHolder\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/108027-usd-inr-rupee-falls-as-chinese-stocks-plunge\\\/\",\"url\":\"https:\\\/\\\/currencylive.com\\\/news\\\/108027-usd-inr-rupee-falls-as-chinese-stocks-plunge\\\/\",\"name\":\"USD\\\/INR: Rupee falls as Chinese stocks plunge - 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