{"id":117563,"date":"2024-04-05T19:00:43","date_gmt":"2024-04-05T18:00:43","guid":{"rendered":"https:\/\/currencylive.com\/news\/?p=117563"},"modified":"2024-04-09T17:52:49","modified_gmt":"2024-04-09T16:52:49","slug":"109018-usd-inr-rupee-rises-after-the-rbi-leaves-rates-on-hold","status":"publish","type":"post","link":"https:\/\/currencylive.com\/news\/109018-usd-inr-rupee-rises-after-the-rbi-leaves-rates-on-hold\/","title":{"rendered":"USD\/INR: Rupee rises after the RBI leaves rates on hold"},"content":{"rendered":"<ul>\n<li><strong>Indian Rupee (INR) rises after RBI left rates<\/strong><\/li>\n<li><strong>India\u2019s growth is expected to remain solid<\/strong><\/li>\n<li><strong>US Dollar (USD) rises against its major peers<\/strong><\/li>\n<li><strong>US non-farm payroll beat forecasts<\/strong><\/li>\n<\/ul>\n<p>The US Dollar Indian Rupee (<a href=\"https:\/\/currencylive.com\/exchange-rate\/usd-to-inr-exchange-rate-today\/\">USD\/INR<\/a>) exchange rate is falling for a second straight day. The pair fell 0.2% in the previous session, settling on Thursday at 83.34. At 17:00 UTC, USD\/INR trades -0.17% at 83.33 and trades in a range of 83.25 to 83.50.<\/p>\n<p>The Indian rupee is rising higher after the Reserve Bank of India left rates on hold for a seventh straight month.<\/p>\n<p>The central bank kept the main lending rate at 6.5%, in line with forecasts, as economic growth is expected to remain solid and inflation above the 4% target.<\/p>\n<p>The RBI believes that monetary policy must remain actively disinflationary at this stage. However, food price volatility was highlighted as a concern even though core inflation has fallen sharply below 4%.<\/p>\n<p>The rupee rose following the decision and remained just above a record low on Thursday.<\/p>\n<p>The US Dollar is falling against the Rupee but rising against major peers. The US Dollar Index, which measures the greenback versus a basket of major currencies, trades at +0.13% at the time of writing at 104.26 but is on track to book a modest loss across the week.<\/p>\n<p>The US dollar is moving higher against its major peers after stronger-than-expected US nonfarm payroll data shows that the Federal Reserve can afford to be patient with cutting interest rates.<\/p>\n<p>According to data from the Labour Department&#8217;s Bureau of Statistics, the US added 303,000 jobs in March. This was well ahead of the 200,000 that analysts had forecast. Ann came after a downwardly revised 270,000 in February.<\/p>\n<p>Meanwhile, the unemployment rate unexpectedly ticked lower to 3.8%, down from 3.9%, and wage growth also rose 0.3%, up from 0.1%.<\/p>\n<p>Data highlighted the resilience of the US labour market. The Federal Reserve may struggle to cut interest rates in June following such a strong number, especially if inflation next week remains sticky.<\/p>\n<p>According to the CME Fed Watch, the market is now pricing in a 55% probability of a rate cut in June, down from around 70% just a month ago.<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Indian Rupee (INR) rises after RBI left rates India\u2019s growth is expected to remain solid US Dollar (USD) rises against its major peers US non-farm payroll beat forecasts The US Dollar Indian Rupee (USD\/INR) exchange rate is falling for a second straight day. The pair fell 0.2% in the previous session, settling on Thursday 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":[1666,1398,1862],"class_list":["post-117563","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 after the RBI leaves rates on hold - 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\/109018-usd-inr-rupee-rises-after-the-rbi-leaves-rates-on-hold\/\" \/>\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\\\/109018-usd-inr-rupee-rises-after-the-rbi-leaves-rates-on-hold\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/109018-usd-inr-rupee-rises-after-the-rbi-leaves-rates-on-hold\\\/\"},\"author\":{\"name\":\"Ileana Ionescu\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#\\\/schema\\\/person\\\/3d5cb0a6a22d357fc0b9ad562f35e75b\"},\"headline\":\"USD\\\/INR: Rupee rises after the RBI leaves rates on hold\",\"datePublished\":\"2024-04-05T18:00:43+00:00\",\"dateModified\":\"2024-04-09T16:52:49+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/109018-usd-inr-rupee-rises-after-the-rbi-leaves-rates-on-hold\\\/\"},\"wordCount\":362,\"image\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/109018-usd-inr-rupee-rises-after-the-rbi-leaves-rates-on-hold\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/currencylive.com\\\/news\\\/wp-content\\\/uploads\\\/2019\\\/10\\\/indian-rupee-money.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\\\/109018-usd-inr-rupee-rises-after-the-rbi-leaves-rates-on-hold\\\/\",\"url\":\"https:\\\/\\\/currencylive.com\\\/news\\\/109018-usd-inr-rupee-rises-after-the-rbi-leaves-rates-on-hold\\\/\",\"name\":\"USD\\\/INR: Rupee rises after the RBI leaves rates on hold - 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