{"id":118487,"date":"2024-10-21T22:33:34","date_gmt":"2024-10-21T21:33:34","guid":{"rendered":"https:\/\/currencylive.com\/news\/?p=118487"},"modified":"2024-10-22T18:33:34","modified_gmt":"2024-10-22T17:33:34","slug":"109304-usd-inr-the-rupee-is-unchanged-near-a-record-low","status":"publish","type":"post","link":"https:\/\/currencylive.com\/news\/109304-usd-inr-the-rupee-is-unchanged-near-a-record-low\/","title":{"rendered":"USD\/INR: The Rupee is unchanged near a record low"},"content":{"rendered":"<ul>\n<li><strong>Indian Rupee (INR) is unchanged after gains last week<\/strong><\/li>\n<li><strong>RBI has stabilized the price, but equities outflows are a problem<\/strong><\/li>\n<li><strong>US Dollar (USD) is rising versus its major peers<\/strong><\/li>\n<li><strong>USD is boosted by the Trump trade<\/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 after modest losses last week. The pair fell 0.04% in the previous week, settling on Friday at 84.06. Today, at 16:00 UTC, USD\/INR is up +0.01% at 84.07 and traded in a range of 84.04 to 84.08.<\/p>\n<p>The Indian rupee is hovering around a record low as foreign investors are cashing out. The Reserve Bank of India has attempted to stabilize the Rupee in recent months.<\/p>\n<p>The RBI&#8217;s interventions drained 10.75 billion from the country&#8217;s foreign exchange reserves as of October 11<sup>th<\/sup>. This is them being pressured further by foreign investors pulling 9.2 billion from Indian equities in October alone, largely reallocating towards China.<\/p>\n<p>Meanwhile, Hyundai Motor India\u2019s upcoming IPO, should proceeds be redirected to the South Korean parent firm, could also pressure the rupee.<\/p>\n<p>Investors are reassessing risk and, following the huge stimulus in China, are gravitating towards investing there.<\/p>\n<p>The US Dollar is flat against the Rupee but is rising against its major peers. The US Dollar Index, which measures the greenback versus a basket of major currencies, is rising 0.2%, trading at 103.79 after gains across the previous week.<\/p>\n<p>The U.S. dollar is rising, reaching levels not seen since early August, on expectations that the Federal Reserve may reduce interest rates more gradually than originally expected.<\/p>\n<p>Strong economic data, including robust retail sales last week, combined with an increased likelihood of Donald Trump winning the US presidential election, are putting pressure on the USD.<\/p>\n<p>Trump&#8217;s core policies regarding taxes and tariffs are considered inflationary, and a slower pace of Fed rate cuts could be required.<\/p>\n<p>The US economic calendar is relatively quiet this week, with just S&amp;P Global at PMI due on Thursday. Otherwise the market will be watching comments from fed speakers for more clarity over the Fed&#8217;s intentions.<\/p>\n<p>.<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Indian Rupee (INR) is unchanged after gains last week RBI has stabilized the price, but equities outflows are a problem US Dollar (USD) is rising versus its major peers USD is boosted by the Trump trade The US Dollar Indian Rupee (USD\/INR) exchange rate is holding steady after modest losses last week. The pair fell [&hellip;]<\/p>\n","protected":false},"author":163946598,"featured_media":47015,"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-118487","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: The Rupee is unchanged near a record 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\/109304-usd-inr-the-rupee-is-unchanged-near-a-record-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\\\/109304-usd-inr-the-rupee-is-unchanged-near-a-record-low\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/109304-usd-inr-the-rupee-is-unchanged-near-a-record-low\\\/\"},\"author\":{\"name\":\"Ileana Ionescu\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#\\\/schema\\\/person\\\/3d5cb0a6a22d357fc0b9ad562f35e75b\"},\"headline\":\"USD\\\/INR: The Rupee is unchanged near a record low\",\"datePublished\":\"2024-10-21T21:33:34+00:00\",\"dateModified\":\"2024-10-22T17:33:34+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/109304-usd-inr-the-rupee-is-unchanged-near-a-record-low\\\/\"},\"wordCount\":349,\"image\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/109304-usd-inr-the-rupee-is-unchanged-near-a-record-low\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/currencylive.com\\\/news\\\/wp-content\\\/uploads\\\/2019\\\/10\\\/gbp-inr.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\\\/109304-usd-inr-the-rupee-is-unchanged-near-a-record-low\\\/\",\"url\":\"https:\\\/\\\/currencylive.com\\\/news\\\/109304-usd-inr-the-rupee-is-unchanged-near-a-record-low\\\/\",\"name\":\"USD\\\/INR: The Rupee is unchanged near a record low - 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