{"id":117725,"date":"2024-05-09T14:42:16","date_gmt":"2024-05-09T13:42:16","guid":{"rendered":"https:\/\/currencylive.com\/news\/?p=117725"},"modified":"2024-05-17T15:19:49","modified_gmt":"2024-05-17T14:19:49","slug":"109071-usd-inr-rupee-holds-steady-oil-prices-hover-at-a-2month-low","status":"publish","type":"post","link":"https:\/\/currencylive.com\/news\/109071-usd-inr-rupee-holds-steady-oil-prices-hover-at-a-2month-low\/","title":{"rendered":"USD\/INR: Rupee holds steady, oil prices hover at a 2month low"},"content":{"rendered":"<ul>\n<li><strong>Indian Rupee (INR) holds broadly steady<\/strong><\/li>\n<li><strong>Oil prices hover around a 2-month low<\/strong><\/li>\n<li><strong>US Dollar (USD) is flat versus its major peers.<\/strong><\/li>\n<li><strong>Jobless claims rose by more than expected<\/strong><\/li>\n<\/ul>\n<p>The US Dollar Indian Rupee (USD\/INR) exchange rate has ticked higher after two days of ticking lower. The pair fell 0.01% in the previous session, settling on Wednesday at 83.46. At 10:00 UTC, USD\/INR trades 0.01% at 83.47 and trades in a range of 83.44 to 83.51.<\/p>\n<p>India\u2019s fiscal deficit for the year ending March 2024 is expected to be slightly better than initial projections of $207.8 billion.<\/p>\n<p>Additional tax receipts and some non-tax revenues have helped improve the fiscal deficit target; according to a government source, official data is not expected to be released until May 31st.<\/p>\n<p>Income tax receipts increased by over 17% and reached nearly $235 billion in 2023\/ 24, and the government is targeting a fiscal deficit of 5.9% of GDP for that financial year.<\/p>\n<p>Meanwhile, oil prices are hovering around two-month lows after stronger-than-expected China data. Chinese imports and exports both rose more than expected, lifting the mood across the market and improving the oil demand outlook.<\/p>\n<p>The US Dollar is rising against the Rupee but is flat against its major peers. The US Dollar Index, which measures the greenback against a basket of major currencies, trades 0% at the time of writing at 105.50, after two days of gains.<\/p>\n<p>The US dollar is holding steady as investors digest weekend than expected US jobless claims and more comments from Federal Reserve officials.<\/p>\n<p>US jobless claims rose by more than expected to 231K in the previous week, up from 209 K and well ahead of forecasts of 210 K. The data comes after the softer-than-expected US non-farm payroll on Friday and supports the view that the US labour market could be starting to cool.<\/p>\n<p>Meanwhile, Fed speakers continue to dominate amid a quiet economic calendar. Yesterday, Boston Fed president Susan Collins said that she believes interest rates need to remain restrictive for longer to bring inflation back to the federal reserve&#8217;s 2% target.<\/p>\n<p>Her comments come after Minneapolis Fed president Neel Kashkari raised questions over whether the Federal Reserve would be able to cut interest rates at all in 2024.<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Indian Rupee (INR) holds broadly steady Oil prices hover around a 2-month low US Dollar (USD) is flat versus its major peers. Jobless claims rose by more than expected The US Dollar Indian Rupee (USD\/INR) exchange rate has ticked higher after two days of ticking lower. The pair fell 0.01% in the previous session, settling [&hellip;]<\/p>\n","protected":false},"author":163946598,"featured_media":4872,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1380,1379],"tags":[1395,2649,1394,2410],"class_list":["post-117725","post","type-post","status-publish","format-standard","has-post-thumbnail","category-eur","category-gbp","tag-eur","tag-eur-gbp","tag-gbp","tag-gbp-eur"],"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 holds steady, oil prices hover at a 2month low - 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\/109071-usd-inr-rupee-holds-steady-oil-prices-hover-at-a-2month-low\/\" \/>\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\\\/109071-usd-inr-rupee-holds-steady-oil-prices-hover-at-a-2month-low\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/109071-usd-inr-rupee-holds-steady-oil-prices-hover-at-a-2month-low\\\/\"},\"author\":{\"name\":\"Ileana Ionescu\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#\\\/schema\\\/person\\\/3d5cb0a6a22d357fc0b9ad562f35e75b\"},\"headline\":\"USD\\\/INR: Rupee holds steady, oil prices hover at a 2month low\",\"datePublished\":\"2024-05-09T13:42:16+00:00\",\"dateModified\":\"2024-05-17T14:19:49+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/109071-usd-inr-rupee-holds-steady-oil-prices-hover-at-a-2month-low\\\/\"},\"wordCount\":369,\"image\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/109071-usd-inr-rupee-holds-steady-oil-prices-hover-at-a-2month-low\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/currencylive.com\\\/news\\\/wp-content\\\/uploads\\\/2019\\\/08\\\/100640-gbp-usd-no-change-from-boe.jpg\",\"keywords\":[\"eur\",\"eur\\\/gbp\",\"gbp\",\"gbp\\\/eur\"],\"articleSection\":[\"EUR\",\"GBP\"],\"inLanguage\":\"en-US\",\"copyrightYear\":\"2024\",\"copyrightHolder\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/109071-usd-inr-rupee-holds-steady-oil-prices-hover-at-a-2month-low\\\/\",\"url\":\"https:\\\/\\\/currencylive.com\\\/news\\\/109071-usd-inr-rupee-holds-steady-oil-prices-hover-at-a-2month-low\\\/\",\"name\":\"USD\\\/INR: Rupee holds steady, oil prices hover at a 2month low - 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