{"id":117366,"date":"2024-03-12T17:04:55","date_gmt":"2024-03-12T17:04:55","guid":{"rendered":"https:\/\/currencylive.com\/news\/?p=117366"},"modified":"2024-03-19T09:34:03","modified_gmt":"2024-03-19T09:34:03","slug":"108081-usd-inr-rupee-slips-after-us-inflation-data","status":"publish","type":"post","link":"https:\/\/currencylive.com\/news\/108081-usd-inr-rupee-slips-after-us-inflation-data\/","title":{"rendered":"USD\/INR: Rupee slips after US inflation data"},"content":{"rendered":"<ul>\n<li><strong><a href=\"https:\/\/currencylive.com\/exchange-rate\/inr-indian-rupee-live-exchange-rate\/\">Indian Rupee<\/a> (INR) falls as inflation cools<\/strong><\/li>\n<li><strong>Indian retail inflation was 5.09% down from 5.1%<\/strong><\/li>\n<li><strong><a href=\"https:\/\/currencylive.com\/exchange-rate\/usd-us-dollar-live-exchange-rate\/\">US Dollar<\/a> (USD) rises versus its major peers<\/strong><\/li>\n<li><strong>US inflation was hotter than expected<\/strong><\/li>\n<\/ul>\n<p>The US Dollar Indian Rupee (USD\/INR) exchange rate is rising for a third straight day. The pair rose 0.05% in the previous week, settling on Monday at 82.77. At 17:00 UTC, USD\/INR trades +0.02% at 82.80 and trades in a range of 82.73 to 82.79.<\/p>\n<p>The Indian rupee is struggling against the stronger U.S. dollar despite Indian retail inflation rising at a faster pace than expected owing to higher food prices.<\/p>\n<p>Annual retail inflation eased to 5.09% in February, down from 5.10% in January, but was still higher than the 5.02% forecast by Reuters.<\/p>\n<p>Food inflation, which accounts for over 50% of the overall consumer price basket, rose to 8.66% last month, compared to 8.3% in January.<\/p>\n<p>Retail inflation remains within the RBI&#8217;s 2% to 6% band, although uncertainties surrounding food prices could worry policymakers.<\/p>\n<p>The US Dollar is rising 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 103.00 as it attempts to recover some of last week\u2019s losses.<\/p>\n<p>The U.S. dollar is gaining against its major peers after February&#8217;s hotter-than-expected US inflation data.<\/p>\n<p>The data shows that the consumer price index unexpectedly rose to 3.2% year on year, up from 3.1% in January and ahead of the expected 3.1%. On a monthly basis, CPI rose 0.4%, which is in line with expectations, but it also rose from 0.3% in January.<\/p>\n<p>Meanwhile, call CPI, which discounts more volatile measures such as food and fuel, eased by less than expected, falling to 3.8% year on year, down from 3.9%, which economists had expected a full to 3.7%. The data shows that inflation is proving to be sticky and challenging for the Fed to return to its 2% target. This is not the type of report that would accompany a rate cut from the Federal Reserve.<\/p>\n<p>According to the CME fed watch tool, the market is now pricing in a 65% probability of a rate cut in June, down from 90% just a month ago.<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Indian Rupee (INR) falls as inflation cools Indian retail inflation was 5.09% down from 5.1% US Dollar (USD) rises versus its major peers US inflation was hotter than expected The US Dollar Indian Rupee (USD\/INR) exchange rate is rising for a third straight day. The pair rose 0.05% in the previous week, settling on Monday [&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-117366","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 slips after US inflation data - 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\/108081-usd-inr-rupee-slips-after-us-inflation-data\/\" \/>\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\\\/108081-usd-inr-rupee-slips-after-us-inflation-data\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/108081-usd-inr-rupee-slips-after-us-inflation-data\\\/\"},\"author\":{\"name\":\"Ileana Ionescu\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#\\\/schema\\\/person\\\/3d5cb0a6a22d357fc0b9ad562f35e75b\"},\"headline\":\"USD\\\/INR: Rupee slips after US inflation data\",\"datePublished\":\"2024-03-12T17:04:55+00:00\",\"dateModified\":\"2024-03-19T09:34:03+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/108081-usd-inr-rupee-slips-after-us-inflation-data\\\/\"},\"wordCount\":354,\"image\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/108081-usd-inr-rupee-slips-after-us-inflation-data\\\/#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\":\"2024\",\"copyrightHolder\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/108081-usd-inr-rupee-slips-after-us-inflation-data\\\/\",\"url\":\"https:\\\/\\\/currencylive.com\\\/news\\\/108081-usd-inr-rupee-slips-after-us-inflation-data\\\/\",\"name\":\"USD\\\/INR: Rupee slips after US inflation data - 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