{"id":117504,"date":"2024-03-21T14:00:08","date_gmt":"2024-03-21T14:00:08","guid":{"rendered":"https:\/\/currencylive.com\/news\/?p=117504"},"modified":"2024-03-25T13:27:50","modified_gmt":"2024-03-25T13:27:50","slug":"108101-usd-inr-rupee-falls-as-usd-recovers-from-the-feds-rate-decision","status":"publish","type":"post","link":"https:\/\/currencylive.com\/news\/108101-usd-inr-rupee-falls-as-usd-recovers-from-the-feds-rate-decision\/","title":{"rendered":"USD\/INR: Rupee falls as USD recovers from the Fed\u2019s rate decision"},"content":{"rendered":"<ul>\n<li><strong><a href=\"https:\/\/currencylive.com\/exchange-rate\/inr-indian-rupee-live-exchange-rate\/\">Indian Rupee<\/a> (INR) falls for a fourth day<\/strong><\/li>\n<li><strong>Indian composite PMI rises for a 32<sup>nd<\/sup> month<\/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 fourth straight day. The pair rose 0.06% in the previous session, settling on Wednesday at 83.05. At 11:00 UTC, USD\/INR trades +0.08% at 83.11 and trades in a range of 82.95 to 83.15.<\/p>\n<p>Indian business activity ended this fiscal year on a positive note, growing at its fastest rate in eight months in March, indicating that the country could be on track to remain the fastest-growing major economy.<\/p>\n<p>HSBC&#8217;s flash India composite PMI, compiled by S&amp;P global, rose to 61.3 in March up from 60.6 in February. This marks the 32nd straight month of expanding activity, with the 50 level separating expansion from contraction.<\/p>\n<p>Manufacturing output at an almost 3-1\/2-year high was a principal driver of business activities, and new orders increased at a faster pace than the previous month. The manufacturing PMI rose to 59.2, its highest level since February 2008, up from 56.9 last month.<\/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 +0.17% at the time of writing at 103.40 as it attempts to recover some of yesterday\u2019s losses.<\/p>\n<p>The US dollar is rising, recovering from steep losses yesterday after the Federal Reserve left interest rate on hold at 5.25 to 5.5% in line with expectations.<\/p>\n<p>However, the central bank also surprised the market by maintaining guidance for three rate cuts this year despite Inflation coming in hotter than expected for the previous two months.<\/p>\n<p>The market had been expecting a slightly more hawkish tilt from the Federal Reserve &#8211; this wasn&#8217;t the case as policymakers continue to plan to shave 75 basis points off the current rate level by the end of 2024. The market is also pricing in adding a 75% probability of the 1st Fed rate cut coming In June; this is up from 60% just prior to the meeting.<\/p>\n<p>Looking ahead, attention now turns to US PMI data, which is expected to show that growth in the service and manufacturing sectors slowed slightly in the month of March. Weaker-than-expected readings, kids, and to confidence, a more dovish central bank.<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Indian Rupee (INR) falls for a fourth day Indian composite PMI rises for a 32nd month 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 fourth straight day. The pair rose 0.06% in the previous session, settling on [&hellip;]<\/p>\n","protected":false},"author":163946598,"featured_media":82159,"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-117504","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 falls as USD recovers from the Fed\u2019s rate decision - 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\/108101-usd-inr-rupee-falls-as-usd-recovers-from-the-feds-rate-decision\/\" \/>\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\\\/108101-usd-inr-rupee-falls-as-usd-recovers-from-the-feds-rate-decision\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/108101-usd-inr-rupee-falls-as-usd-recovers-from-the-feds-rate-decision\\\/\"},\"author\":{\"name\":\"Ileana Ionescu\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#\\\/schema\\\/person\\\/3d5cb0a6a22d357fc0b9ad562f35e75b\"},\"headline\":\"USD\\\/INR: Rupee falls as USD recovers from the Fed\u2019s rate decision\",\"datePublished\":\"2024-03-21T14:00:08+00:00\",\"dateModified\":\"2024-03-25T13:27:50+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/108101-usd-inr-rupee-falls-as-usd-recovers-from-the-feds-rate-decision\\\/\"},\"wordCount\":393,\"image\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/108101-usd-inr-rupee-falls-as-usd-recovers-from-the-feds-rate-decision\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/currencylive.com\\\/news\\\/wp-content\\\/uploads\\\/2019\\\/11\\\/USD-INR-Indian-Rupee-Pares-Losses-after-Inflation-Surprise.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\\\/108101-usd-inr-rupee-falls-as-usd-recovers-from-the-feds-rate-decision\\\/\",\"url\":\"https:\\\/\\\/currencylive.com\\\/news\\\/108101-usd-inr-rupee-falls-as-usd-recovers-from-the-feds-rate-decision\\\/\",\"name\":\"USD\\\/INR: Rupee falls as USD recovers from the Fed\u2019s rate decision - 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