{"id":118570,"date":"2024-11-12T22:34:46","date_gmt":"2024-11-12T22:34:46","guid":{"rendered":"https:\/\/currencylive.com\/news\/?p=118570"},"modified":"2024-11-19T19:39:08","modified_gmt":"2024-11-19T19:39:08","slug":"109342-usd-inr-the-rupee-falls-as-inflation-rises","status":"publish","type":"post","link":"https:\/\/currencylive.com\/news\/109342-usd-inr-the-rupee-falls-as-inflation-rises\/","title":{"rendered":"USD\/INR: The Rupee falls as inflation rises"},"content":{"rendered":"<ul>\n<li><strong>Indian Rupee (INR) fell after a modest rise yesterday<\/strong><\/li>\n<li><strong>Indian CPI to a 14-month high<\/strong><\/li>\n<li><strong>US Dollar (USD) rises to a 4-month high versus major peers<\/strong><\/li>\n<li><strong>Trump trade boosts the USD ahead of inflation data<\/strong><\/li>\n<\/ul>\n<p>The US Dollar Indian Rupee (USD\/INR) exchange rate is rising after modest losses yesterday The pair fell 0.02% in the previous session, settling on Monday at 84.37. Today, at 20:00 UTC, USD\/INR is rising 0.07% at 84.48 and traded in a range of 84.36 to 84.48..<\/p>\n<p>The Indian Rupee is falling against the U.S. dollar despite Indian inflation rising by more than expected, pushing back RBI rate cut bets.<\/p>\n<p>Inflation rose to 6.2% up from 5.49% in September. This was also ahead of expectations of 5.9%<\/p>\n<p>One of the main causes of the rise in inflation was surging food prices. Food inflation was once again above 10%, with vegetables notably more expensive,<\/p>\n<p>Hot inflation means the RBI is less likely to start cutting interest rates anytime soon, especially given that CPI is above the RBI&#8217;s 2% to 6% target band.<\/p>\n<p>The US Dollar is rising across the board. The US Dollar Index, which measures the greenback versus a basket of major currencies, is rising 037%, trading at 105.94. This marks a third straight day of gains as the Trump Trade continues.<\/p>\n<p>Expectations that Trump&#8217;s tax cuts and trade tariffs will add inflationary pressures to the US economy have lifted treasury yields higher. The U.S. dollar is tracking yields northwards.<\/p>\n<p>The market is lowering expectations for Fed rate hikes and is now pricing in a 69% probability of a rate cut in December, down from 80% a week earlier.<\/p>\n<p>The market is also pricing in fewer rate cuts in 2025. As a result, has the US dollar pushed up to five-month highs versus its major peers.<\/p>\n<p>Attention is now turning to US inflation data which is due tomorrow at 13:30 GMT and is expected to tick higher to 2.6% up from 2.4%? Core inflation is also expected to remain sticky at 3.3%.<\/p>\n<p>Hotter-than-expected inflation could see the market reining rate cut expectations, further helping to support the USD.<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Indian Rupee (INR) fell after a modest rise yesterday Indian CPI to a 14-month high US Dollar (USD) rises to a 4-month high versus major peers Trump trade boosts the USD ahead of inflation data The US Dollar Indian Rupee (USD\/INR) exchange rate is rising after modest losses yesterday The pair fell 0.02% in the [&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-118570","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 - 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