{"id":83788,"date":"2019-12-17T05:16:46","date_gmt":"2019-12-17T10:16:46","guid":{"rendered":"https:\/\/currencylive.com\/?p=83788"},"modified":"2019-12-17T04:45:09","modified_gmt":"2019-12-17T09:45:09","slug":"101795-usd-inr-indian-rupee-erasing-last-weeks-gains","status":"publish","type":"post","link":"https:\/\/currencylive.com\/news\/101795-usd-inr-indian-rupee-erasing-last-weeks-gains\/","title":{"rendered":"USD\/INR: Indian Rupee Erasing Last Week\u2019s Gains"},"content":{"rendered":"

After a positive previous week, the Indian Rupee<\/a> gives back almost all its gains against the greenback. On the currency market, the value of Rupee depreciates by 27 paise at the end of the first day trading session of the new week and settled at 70.91 against the US dollar<\/a>.<\/p>\n

During the early Asia trading hours, the USD\/INR<\/a> exchange rate was seen quoted within a range of 70.97 \u2014 70.88. The INR is expected to feel the headwinds from year-end hedging dollar demand from big importers.<\/p>\n

The dollar index couldn\u2019t regain its strength and slipped lower settling at the end of Monday\u2019s trading session at 97.05 registering a -0.13% loss.<\/p>\n

Foreign institutional investors (FIIs) remained net buyers of Indian equities and pumped in over Rs 728.13 crore on Monday, the exchange data have shown.<\/p>\n

Elsewhere, Indian Central Bank (RBI) governor Shaktikanta Das hints that there is more scope for further rate cuts. According to RBI Governor, the central bank is waiting for the appropriate time to introduce more easing measures.<\/p>\n

“While taking a pause we very carefully and very definitely said there is space for further monetary policy action but the timing will have to be decided in a manner that its impact is optimum and its impact is maximized,”<\/em> RBI Governor said at the India Economic Conclave conference, organised by the Times Network.<\/p>\n

Das also said that the recovery in the Asia\u2019s third largest economy is linked to external factors such as the global economy<\/a>, which \u201cimpact growth prospects for India.\u201d<\/p>\n

In the US, the manufacturing sector has expanded at a moderately lower pace in December, according to data published on Monday. Manufacturing PMI printed 52.5 in December versus 52.6 in November. At the same time, Service PMI inches higher to 52.2 versus 51.6 previous reading.<\/p>\n

The domestic benchmark equity index NIFTY 50 closed down on Monday and settled at 12,053. During early Asia trading hours NIFTY 50 was seen trading higher at 12,144. Year-to-date the India stock market has gained 11.27%, benefiting from foreign investment inflow.<\/p>\n

The Indian 10-year government bond yield was seen quoted at 6.77 versus 6.80 previous.<\/p>\n

\n
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After a positive previous week, the Indian Rupee gives back almost all its gains against the greenback. On the currency market, the value of Rupee depreciates by 27 paise at the end of the first day trading session of the new week and settled at 70.91 against the US dollar. During the early Asia trading […]<\/p>\n","protected":false},"author":163946598,"featured_media":5402,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1693,1381],"tags":[2001,1992,1666,1720,1454,1398],"class_list":{"0":"post-83788","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-inr","8":"category-usd","9":"tag-india-stock-market","10":"tag-indian-central-bank","11":"tag-inr","12":"tag-nifty-50","13":"tag-pmi","14":"tag-usd"},"acf":[],"yoast_head":"\nUSD\/INR: Indian Rupee Erasing Last Week\u2019s Gains - 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\/101795-usd-inr-indian-rupee-erasing-last-weeks-gains\/\" \/>\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=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/101795-usd-inr-indian-rupee-erasing-last-weeks-gains\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/101795-usd-inr-indian-rupee-erasing-last-weeks-gains\\\/\"},\"author\":{\"name\":\"Ileana Ionescu\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#\\\/schema\\\/person\\\/3d5cb0a6a22d357fc0b9ad562f35e75b\"},\"headline\":\"USD\\\/INR: Indian Rupee Erasing Last Week\u2019s Gains\",\"datePublished\":\"2019-12-17T10:16:46+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/101795-usd-inr-indian-rupee-erasing-last-weeks-gains\\\/\"},\"wordCount\":593,\"image\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/101795-usd-inr-indian-rupee-erasing-last-weeks-gains\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/currencylive.com\\\/news\\\/wp-content\\\/uploads\\\/2019\\\/08\\\/100925-gbp-usd-pound-climbs-brexit-law.jpg\",\"keywords\":[\"India stock market\",\"Indian Central Bank\",\"inr\",\"NIFTY 50\",\"pmi\",\"usd\"],\"articleSection\":[\"INR\",\"USD\"],\"inLanguage\":\"en-US\",\"copyrightYear\":\"2019\",\"copyrightHolder\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/101795-usd-inr-indian-rupee-erasing-last-weeks-gains\\\/\",\"url\":\"https:\\\/\\\/currencylive.com\\\/news\\\/101795-usd-inr-indian-rupee-erasing-last-weeks-gains\\\/\",\"name\":\"USD\\\/INR: Indian Rupee Erasing Last Week\u2019s Gains - 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