{"id":119667,"date":"2025-09-04T22:47:14","date_gmt":"2025-09-04T21:47:14","guid":{"rendered":"https:\/\/currencylive.com\/news\/?p=119667"},"modified":"2025-09-04T22:47:14","modified_gmt":"2025-09-04T21:47:14","slug":"109744-usd-inr-the-rupee-falls-despite-the-consumer-tax-cut","status":"publish","type":"post","link":"https:\/\/currencylive.com\/news\/109744-usd-inr-the-rupee-falls-despite-the-consumer-tax-cut\/","title":{"rendered":"USD\/INR: The Rupee falls despite the consumer tax cut"},"content":{"rendered":"<ul>\n<li><strong>Indian Rupee (INR) is falling for a second day<\/strong><\/li>\n<li><strong>India cut consumer tax to spur consumption<\/strong><\/li>\n<li><strong>US Dollar (USD) is rising versus major peers<\/strong><\/li>\n<li><strong>US ADP payrolls, jobless claims were weaker than expected<\/strong><\/li>\n<\/ul>\n<p>The US dollar-to-Indian rupee (<a href=\"https:\/\/currencylive.com\/exchange-rate\/1000-usd-to-inr-exchange-rate-today\/\">USD\/INR<\/a>) exchange rate rose for the second straight day. The pair rose 0.09% in the previous session, settling on Wednesday at 88.07. At 21:30 UTC, USD\/INR trades 0.14% at 88.19 and traded in a range of 87.98 to 88.21.<\/p>\n<p>The Rupee fell on Thursday amid strong local USD demand from local oil companies and foreign banks.<\/p>\n<p>The Indian Rupee weakened after the Indian Finance Minister announced on Wednesday cuts on hundreds of consumer items ranging from soap to small cars in order to spur domestic demand.<\/p>\n<p>The move is expected to boost consumption in the economy, which grew at 7.8% in the June quarter.<\/p>\n<p>The simplification of the tax on consumer goods was triggered by Prime Minister Modi&#8217;s call for greater self-reliance in India, following the US lifting tariffs on Indian goods.<\/p>\n<p>The US Dollar rose across the board. The US Dollar Index, which measures the greenback against a basket of major currencies, settled 0.14% to 98.28, after losses yesterday.<\/p>\n<p>The USD is edging higher as investors look ahead to a key jobs report tomorrow and following a trio of jobs data, which reinforced expectations that the Fed will cut rates.<\/p>\n<p>The ADP payroll report showed that 54,000 jobs were added in the private sector in August, well down from 106k in July and below the 65k that was forecast.<\/p>\n<p>US jobless claims also missed forecast, rising to 237k, the highest level since June and up from 232k in the previous week.<\/p>\n<p>The data support the view that the Federal Reserve will need to cut rates to support the labour market.<\/p>\n<p>Attention turns to Friday\u2019s non-farm payroll, which is expected to show that job creation remained weak at 73k and unemployment ticked higher to 4.3%.<\/p>\n<p>The market is almost fully pricing in a rate cut in the September meeting.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Indian Rupee (INR) is falling for a second day India cut consumer tax to spur consumption US Dollar (USD) is rising versus major peers US ADP payrolls, jobless claims were weaker than expected The US dollar-to-Indian rupee (USD\/INR) exchange rate rose for the second straight day. The pair rose 0.09% in the previous session, settling [&hellip;]<\/p>\n","protected":false},"author":163946597,"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-119667","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 falls despite the consumer tax cut - 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\/109744-usd-inr-the-rupee-falls-despite-the-consumer-tax-cut\/\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Fiona Cincotta\" \/>\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\\\/109744-usd-inr-the-rupee-falls-despite-the-consumer-tax-cut\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/109744-usd-inr-the-rupee-falls-despite-the-consumer-tax-cut\\\/\"},\"author\":{\"name\":\"Fiona Cincotta\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#\\\/schema\\\/person\\\/8ef0fafb6c93f1204150bb907b42cfec\"},\"headline\":\"USD\\\/INR: The Rupee falls despite the consumer tax cut\",\"datePublished\":\"2025-09-04T21:47:14+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/109744-usd-inr-the-rupee-falls-despite-the-consumer-tax-cut\\\/\"},\"wordCount\":337,\"image\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/109744-usd-inr-the-rupee-falls-despite-the-consumer-tax-cut\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/currencylive.com\\\/news\\\/wp-content\\\/uploads\\\/2019\\\/10\\\/indian-rupee-money.jpg\",\"keywords\":[\"inr\",\"usd\",\"usd\\\/inr\"],\"articleSection\":[\"INR\",\"USD\"],\"inLanguage\":\"en-US\",\"copyrightYear\":\"2025\",\"copyrightHolder\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/109744-usd-inr-the-rupee-falls-despite-the-consumer-tax-cut\\\/\",\"url\":\"https:\\\/\\\/currencylive.com\\\/news\\\/109744-usd-inr-the-rupee-falls-despite-the-consumer-tax-cut\\\/\",\"name\":\"USD\\\/INR: The Rupee falls despite the consumer tax cut - 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