{"id":118469,"date":"2024-10-16T15:31:17","date_gmt":"2024-10-16T14:31:17","guid":{"rendered":"https:\/\/currencylive.com\/news\/?p=118469"},"modified":"2024-10-17T11:51:34","modified_gmt":"2024-10-17T10:51:34","slug":"109300-usd-inr-rupee-is-unchanged-consumption-slows","status":"publish","type":"post","link":"https:\/\/currencylive.com\/news\/109300-usd-inr-rupee-is-unchanged-consumption-slows\/","title":{"rendered":"USD\/INR: Rupee is unchanged consumption slows"},"content":{"rendered":"<ul>\n<li><strong>Indian Rupee (INR) is unchanged for a second day<\/strong><\/li>\n<li><strong>Consumption in festival season is slow to pick up<\/strong><\/li>\n<li><strong>US Dollar (USD) is flat versus its major peers<\/strong><\/li>\n<li><strong>USD hovers around a 2-month high<\/strong><\/li>\n<\/ul>\n<p>The US Dollar Indian Rupee (<a href=\"https:\/\/currencylive.com\/exchange-rate\/1000-usd-to-inr-exchange-rate-today\/\">USD\/INR)<\/a> exchange rate is holding steady for a second straight day. The pair fell -0.01% in the previous session, settling on Tuesday at 84.04. Today, at 16:00 UTC, USD\/INR is down -0.01% at 84.03 and traded in a range of 83.99 to 84.10.<\/p>\n<p>The Indian rupee remained unmoved despite signs that consumers may be limiting their spending on more expensive items at the start of the festival season, which runs from late September to early November.<\/p>\n<p>Rising prices of food, such as vegetables, onions, tomatoes, and edible oils, have driven up grocery spending in households.<\/p>\n<p>As a result, the start of the festive season this year has been slow, with sales of electronic appliances. lower than last year.<\/p>\n<p>India&#8217;s economy is projected to grow by 7.2% in 2024 to 2025, driven by increased rural demand, but high-frequency indicators such as car sales and manufacturing PMIs have suggested a weakness in the economy.<\/p>\n<p>Meanwhile, falling oil prices have been beneficial for the Indian economy, which imports around 80% of its oil needs. Oil is trading down around 0.5% today after dropping 4% in the previous session.<\/p>\n<p>The US Dollar is holding steady on Friday. The US Dollar Index, which measures the greenback versus a basket of major currencies, is rising 0.02% to trade at 103.28 after modest losses yesterday.<\/p>\n<p>The US dollar is holding steady against its major peers at around 2 months high as investors await the next catalyst.<\/p>\n<p>The US dollar has not been supported in recent weeks by expectations that the US central bank will be cutting interest rates more gradually than initially expected.<\/p>\n<p>After a series of stronger-than-expected data on the Brazilian jobs market and slightly hotter-than-expected inflation, the Fed is expected to cut rates by 25 basis points in November.<\/p>\n<p>Yesterday, Atlanta Fed president Raphael Bostic said that he sees only one rate cut of 25 basis points this year. His comments come after several Fed speakers this week sounded more cautious about cutting interest rates too quickly.<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Indian Rupee (INR) is unchanged for a second day Consumption in festival season is slow to pick up US Dollar (USD) is flat versus its major peers USD hovers around a 2-month high The US Dollar Indian Rupee (USD\/INR) exchange rate is holding steady for a second straight day. The pair fell -0.01% in the [&hellip;]<\/p>\n","protected":false},"author":163946598,"featured_media":82966,"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-118469","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 is unchanged consumption slows - 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\/109300-usd-inr-rupee-is-unchanged-consumption-slows\/\" \/>\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\\\/109300-usd-inr-rupee-is-unchanged-consumption-slows\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/109300-usd-inr-rupee-is-unchanged-consumption-slows\\\/\"},\"author\":{\"name\":\"Ileana Ionescu\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#\\\/schema\\\/person\\\/3d5cb0a6a22d357fc0b9ad562f35e75b\"},\"headline\":\"USD\\\/INR: Rupee is unchanged consumption slows\",\"datePublished\":\"2024-10-16T14:31:17+00:00\",\"dateModified\":\"2024-10-17T10:51:34+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/109300-usd-inr-rupee-is-unchanged-consumption-slows\\\/\"},\"wordCount\":364,\"image\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/109300-usd-inr-rupee-is-unchanged-consumption-slows\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/currencylive.com\\\/news\\\/wp-content\\\/uploads\\\/2019\\\/12\\\/inr-indian-rupee-exchange-rates-gbp.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\\\/109300-usd-inr-rupee-is-unchanged-consumption-slows\\\/\",\"url\":\"https:\\\/\\\/currencylive.com\\\/news\\\/109300-usd-inr-rupee-is-unchanged-consumption-slows\\\/\",\"name\":\"USD\\\/INR: Rupee is unchanged consumption slows - 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