{"id":117868,"date":"2024-06-07T13:15:27","date_gmt":"2024-06-07T12:15:27","guid":{"rendered":"https:\/\/currencylive.com\/news\/?p=117868"},"modified":"2024-06-10T15:21:53","modified_gmt":"2024-06-10T14:21:53","slug":"109116-0usd-inr-rupee-rises-after-the-rbi-leaves-rates-unchanged","status":"publish","type":"post","link":"https:\/\/currencylive.com\/news\/109116-0usd-inr-rupee-rises-after-the-rbi-leaves-rates-unchanged\/","title":{"rendered":"USD\/INR: Rupee rises after the RBI leaves rates unchanged"},"content":{"rendered":"<ul>\n<li><strong>Indian Rupee (INR) is rising after losses yesterday<\/strong><\/li>\n<li><strong>The RBI left rates at 6.5%<\/strong><\/li>\n<li><strong>US Dollar (USD) falls versus its major peers<\/strong><\/li>\n<li><strong>US non-farm payroll data is due shortly<\/strong><\/li>\n<\/ul>\n<p>The US Dollar Indian Rupee (USD\/INR) exchange rate is falling after gains yesterday. The pair rose 0.12% in the previous session, settling on Thursday at 83.47. At 13:00 UTC, USD\/INR trades -0.06% at 83.40 and trades in a range of 83.38 to 849.<\/p>\n<p>The Indian rupee is edging higher after the Reserve Bank of India left interest rates unchanged as expected but raised its GDP grace for 2024-25.<\/p>\n<p>The central bank now sees economic growth in the current fiscal year of 7.2%, upwardly revised from 7% previously, although it left its inflation forecast unchanged.<\/p>\n<p>At the policy meeting, the RBI left the repo rate on hold at 6.5% for an eighth straight month, although two of the six MPC members voted for a 25-basis-point rate cut.<\/p>\n<p>The Indian economy grew faster than expected in the January to March quarter; however, the recent national elections have rattled markets, and a weakened mandate could slow fiscal consolidation.<\/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 -0.05% at the time of writing at 104.04, after losses in the previous session.<\/p>\n<p>The US dollar is holding steady as investors are cautiously anticipating the release of the US non-farm payroll data, which is due shortly.<\/p>\n<p>Economists expect the US economy to add 185,000 jobs in May, up from 175,000 in April, which was the weakest month for job creation in six months.<\/p>\n<p>Lead indicators this week have painted a mixed picture but could point to a modestly stronger-than-expected report. The ISM services hand manufacturing report employment subcomponents came in stronger, but the ADP payroll report was weaker, and jobless claims climbed.<\/p>\n<p>The US non-farm payroll can be hard to predict; therefore, the market will also be watching the unemployment rate, which is expected to hold steady at 3.9%, and wage growth.<\/p>\n<p>Signs of a cooling labor market, including low wage growth and easing price pressures, could encourage the Federal Reserve to cut interest rates sooner.<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Indian Rupee (INR) is rising after losses yesterday The RBI left rates at 6.5% US Dollar (USD) falls versus its major peers US non-farm payroll data is due shortly The US Dollar Indian Rupee (USD\/INR) exchange rate is falling after gains yesterday. The pair rose 0.12% in the previous session, settling on Thursday at 83.47. [&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":[1395,1394,3629],"class_list":["post-117868","post","type-post","status-publish","format-standard","has-post-thumbnail","category-inr","category-usd","tag-eur","tag-gbp","tag-gbp-eur-eur-gbp"],"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 unchanged - 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\/109116-0usd-inr-rupee-rises-after-the-rbi-leaves-rates-unchanged\/\" \/>\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\\\/109116-0usd-inr-rupee-rises-after-the-rbi-leaves-rates-unchanged\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/109116-0usd-inr-rupee-rises-after-the-rbi-leaves-rates-unchanged\\\/\"},\"author\":{\"name\":\"Ileana Ionescu\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#\\\/schema\\\/person\\\/3d5cb0a6a22d357fc0b9ad562f35e75b\"},\"headline\":\"USD\\\/INR: Rupee rises after the RBI leaves rates unchanged\",\"datePublished\":\"2024-06-07T12:15:27+00:00\",\"dateModified\":\"2024-06-10T14:21:53+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/109116-0usd-inr-rupee-rises-after-the-rbi-leaves-rates-unchanged\\\/\"},\"wordCount\":364,\"image\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/109116-0usd-inr-rupee-rises-after-the-rbi-leaves-rates-unchanged\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/currencylive.com\\\/news\\\/wp-content\\\/uploads\\\/2019\\\/10\\\/indian-rupee-money.jpg\",\"keywords\":[\"eur\",\"gbp\",\"gbp\\\/eur. eur\\\/gbp\"],\"articleSection\":[\"INR\",\"USD\"],\"inLanguage\":\"en-US\",\"copyrightYear\":\"2024\",\"copyrightHolder\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/109116-0usd-inr-rupee-rises-after-the-rbi-leaves-rates-unchanged\\\/\",\"url\":\"https:\\\/\\\/currencylive.com\\\/news\\\/109116-0usd-inr-rupee-rises-after-the-rbi-leaves-rates-unchanged\\\/\",\"name\":\"USD\\\/INR: Rupee rises after the RBI leaves rates unchanged - 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