{"id":95210,"date":"2020-01-27T05:02:26","date_gmt":"2020-01-27T10:02:26","guid":{"rendered":"https:\/\/currencylive.com\/news\/?p=95210"},"modified":"2020-01-27T03:33:42","modified_gmt":"2020-01-27T08:33:42","slug":"102181-usd-inr-rupee-edges-lower-ahead-of-the-union-budget","status":"publish","type":"post","link":"https:\/\/currencylive.com\/news\/102181-usd-inr-rupee-edges-lower-ahead-of-the-union-budget\/","title":{"rendered":"USD\/INR: Rupee Edges Lower Ahead of the Union Budget"},"content":{"rendered":"

Indian Rupee<\/a> edged lower ending the previous week on a negative tone. The key Union Budget release in the second-largest economy in the Asia-Pacific region will keep Rupee on the edge. At the end of the previous trading week, the value of Rupee depreciated by 24 paise settling down -0.35% at 71.24 against the US dollar. However, the USD\/INR exchange rate<\/a> was seen trading within a trading range of 70.96 and 71.39.<\/p>\n

Looking forward over the economic calendar<\/a>, several risk events will keep Rupee on the edge. First on the calendar is the Fed interest rate decision. According to most Wall Street economists the Fed will keep its accommodative stance through 2020.<\/p>\n

Meanwhile, India\u2019s Union Budget for the current fiscal year will be announced by finance minister Nirmala Sitharaman. The Prime Minister Narendra Modi has pushed some economic measures to tackle down the economic<\/a> slowdown, higher inflation<\/a> and lower tax revenue. The upcoming budget will reveal set fresh of new measures tackling these concerns.<\/p>\n

The dollar index closed on a positive note for a third consecutive week settling up 0.20% at 97.88.<\/p>\n

Elsewhere, foreign institutional investors (FIIS) were net buyers of shares in the local equity market worth Rs 659.11 crore; according to the National Stock Exchange of India data published at the end of Friday\u2019s trading session. At the same time, Domestic Institutional Investors (DIIs) were net sellers of equities worth Rs 417.96 crore.<\/p>\n

The domestic benchmark equity index NIFTY 50 surged to a new all-time high, but by the end of the week saw a mixed finish and settled down -0.64% at 12,248.25 on Friday. However, during early Asia trading hours on Monday, NIFTY 50 gaped down and was seen quoted at 12,202.10.<\/p>\n

The Indian 10-year government bond yield was seen quoted at 6.57% in morning trade compared with its previous close of 6.58%.<\/p>\n

Currently, at the interbank market, one US dollar buys 71.38 Rupees, up 0.19% as of 8:00 AM UTC.<\/p>\n

\n
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Indian Rupee edged lower ending the previous week on a negative tone. The key Union Budget release in the second-largest economy in the Asia-Pacific region will keep Rupee on the edge. At the end of the previous trading week, the value of Rupee depreciated by 24 paise settling down -0.35% at 71.24 against the US […]<\/p>\n","protected":false},"author":163946598,"featured_media":47071,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1693,1381],"tags":[1629,1387,1666,2005,2176,1720,1955,1398],"class_list":{"0":"post-95210","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-inr","8":"category-usd","9":"tag-economics","10":"tag-inflation","11":"tag-inr","12":"tag-interbank","13":"tag-national-stock-exchange","14":"tag-nifty-50","15":"tag-us-dollar-index","16":"tag-usd"},"acf":[],"yoast_head":"\nUSD\/INR: Rupee Edges Lower Ahead of the Union Budget - 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\/102181-usd-inr-rupee-edges-lower-ahead-of-the-union-budget\/\" \/>\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\\\/102181-usd-inr-rupee-edges-lower-ahead-of-the-union-budget\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/102181-usd-inr-rupee-edges-lower-ahead-of-the-union-budget\\\/\"},\"author\":{\"name\":\"Ileana Ionescu\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#\\\/schema\\\/person\\\/3d5cb0a6a22d357fc0b9ad562f35e75b\"},\"headline\":\"USD\\\/INR: Rupee Edges Lower Ahead of the Union Budget\",\"datePublished\":\"2020-01-27T10:02:26+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/102181-usd-inr-rupee-edges-lower-ahead-of-the-union-budget\\\/\"},\"wordCount\":565,\"image\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/102181-usd-inr-rupee-edges-lower-ahead-of-the-union-budget\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/currencylive.com\\\/news\\\/wp-content\\\/uploads\\\/2019\\\/10\\\/usd-inr.jpg\",\"keywords\":[\"economics\",\"Inflation\",\"inr\",\"interbank\",\"National Stock Exchange\",\"NIFTY 50\",\"US Dollar index\",\"usd\"],\"articleSection\":[\"INR\",\"USD\"],\"inLanguage\":\"en-US\",\"copyrightYear\":\"2020\",\"copyrightHolder\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/102181-usd-inr-rupee-edges-lower-ahead-of-the-union-budget\\\/\",\"url\":\"https:\\\/\\\/currencylive.com\\\/news\\\/102181-usd-inr-rupee-edges-lower-ahead-of-the-union-budget\\\/\",\"name\":\"USD\\\/INR: Rupee Edges Lower Ahead of the Union Budget - 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