{"id":115750,"date":"2024-02-14T19:53:00","date_gmt":"2024-02-14T19:53:00","guid":{"rendered":"https:\/\/currencylive.com\/news\/?p=115750"},"modified":"2024-02-16T14:37:39","modified_gmt":"2024-02-16T14:37:39","slug":"usd-inr-rupee-rises-as-wholesale-inflation-cools","status":"publish","type":"post","link":"https:\/\/currencylive.com\/news\/usd-inr-rupee-rises-as-wholesale-inflation-cools\/","title":{"rendered":"USD\/INR: Rupee rises as wholesale inflation cools"},"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 yesterday\u2019s losses<\/strong><\/li>\n<li><strong>Wholesale inflation eased to 0.27%<\/strong><\/li>\n<li><strong><a href=\"https:\/\/currencylive.com\/exchange-rate\/usd-us-dollar-live-exchange-rate\/\">US Dollar<\/a> (USD) fell after weaker PPI data<\/strong><\/li>\n<li><strong>Dovish Fed commentary also pulled USD lower<\/strong><\/li>\n<\/ul>\n<p>The US Dollar Indian Rupee (USD\/INR) exchange rate is falling after gains yesterday. The pair rose +0.15% in the previous session, settling on Tuesday at 83.09. At 14:00 UTC, USD\/INR trades -0.07% at 83.03 and trades in a range of 82.96 to 83.12.<\/p>\n<p>The Indian rupee was pushing higher, capitalizing on the weaker U.S. dollar to spite Indian wholesale prices rising at a slower pace in January.<\/p>\n<p>Indian wholesale prices rose 0.27% year on year in January compared with a 0.73% rise in December. This latest figure was below economists&#8217; expectations of 0.53%. This was mainly due to an easing in food prices and a steep decline in prices of manufactured products.<\/p>\n<p>Weakening inflationary pressure has continued into January as food prices also rose 3.79% yeah, one year down from 5.39% in December.<\/p>\n<p>The data comes after figures last week showed the country&#8217;s annual retail inflation rate was at a three-month low.<\/p>\n<p>The US Dollar is falling across the board. The US Dollar Index, which measures the greenback versus a basket of major currencies, trades at -0.22% at the time of writing at 104.73, after gains in the previous session.<\/p>\n<p>The USD dollar is falling after US wholesale inflation came in slightly cooler than expected and after less hawkish comments from Federal Reserve official \u00a0Goolsbee.<\/p>\n<p>US PPI, which measures Inflation at the factory gate level, fell by more than initially expected in December. The producer price index fell 0.2% in December, more than the 0.1% that was previously expected.<\/p>\n<p>Meanwhile, comments from Chicago Fed president Austan Goolsbee also helped pull the US dollar lower. Goolsbee suggested that Tuesday&#8217;s inflation report didn&#8217;t change the downtrend in consumer prices, and he played down the impact of CPI&#8217;s rate rise to 4%, which is the highest since June.<\/p>\n<p>However, it&#8217;s worth noting that Goolsbee is a well-known dove.<\/p>\n<p>There is no more U.S. economic data in focus today. Attention will now turn to US retail sales and jobless claims as well as industrial production on Thursday.<\/p>\n<p>At the time of writing, according to the CME Fed watch tool the market is pricing in a 90% probability of the Fed leaving rates unchanged in March and a 59% probability of the Fed leaving interest rates unchanged in May.<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Indian Rupee (INR) rises after yesterday\u2019s losses Wholesale inflation eased to 0.27% US Dollar (USD) fell after weaker PPI data Dovish Fed commentary also pulled USD lower The US Dollar Indian Rupee (USD\/INR) exchange rate is falling after gains yesterday. The pair rose +0.15% in the previous session, settling on Tuesday at 83.09. At 14:00 [&hellip;]<\/p>\n","protected":false},"author":163946598,"featured_media":47178,"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-115750","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 rises as wholesale inflation cools - 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\/usd-inr-rupee-rises-as-wholesale-inflation-cools\/\" \/>\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\\\/usd-inr-rupee-rises-as-wholesale-inflation-cools\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/usd-inr-rupee-rises-as-wholesale-inflation-cools\\\/\"},\"author\":{\"name\":\"Ileana Ionescu\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#\\\/schema\\\/person\\\/3d5cb0a6a22d357fc0b9ad562f35e75b\"},\"headline\":\"USD\\\/INR: Rupee rises as wholesale inflation cools\",\"datePublished\":\"2024-02-14T19:53:00+00:00\",\"dateModified\":\"2024-02-16T14:37:39+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/usd-inr-rupee-rises-as-wholesale-inflation-cools\\\/\"},\"wordCount\":398,\"image\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/usd-inr-rupee-rises-as-wholesale-inflation-cools\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/currencylive.com\\\/news\\\/wp-content\\\/uploads\\\/2019\\\/10\\\/indian-rupee-us-dollar.jpg\",\"keywords\":[\"inr\",\"usd\",\"usd\\\/inr\"],\"articleSection\":[\"INR\",\"USD\"],\"inLanguage\":\"en-US\",\"copyrightYear\":\"2024\",\"copyrightHolder\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/usd-inr-rupee-rises-as-wholesale-inflation-cools\\\/\",\"url\":\"https:\\\/\\\/currencylive.com\\\/news\\\/usd-inr-rupee-rises-as-wholesale-inflation-cools\\\/\",\"name\":\"USD\\\/INR: Rupee rises as wholesale inflation cools - 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