{"id":96735,"date":"2020-02-27T05:39:29","date_gmt":"2020-02-27T10:39:29","guid":{"rendered":"https:\/\/currencylive.com\/news\/?p=96735"},"modified":"2020-02-27T05:39:29","modified_gmt":"2020-02-27T10:39:29","slug":"102522-usd-inr-dollar-pressured-after-trump-coronavirus-press-conference","status":"publish","type":"post","link":"https:\/\/currencylive.com\/news\/102522-usd-inr-dollar-pressured-after-trump-coronavirus-press-conference\/","title":{"rendered":"USD\/INR: Dollar Pressured after Trump Coronavirus Press Conference"},"content":{"rendered":"<p>The <a href=\"https:\/\/currencylive.com\/news\/currency\/usd\/\">US dollar<\/a> is down against the <a href=\"https:\/\/currencylive.com\/news\/currency\/inr\/\">Indian rupee<\/a> on Thursday with the rupee seen as a beneficiary of falling oil prices which slumped again on Wednesday to the weakest since late 2018. US President Trump\u2019s warning that the coronavirus \u201cwill probably spread in the US\u201d is weighing on the dollar.<\/p>\n<p><a href=\"https:\/\/currencylive.com\/exchange-rate\/usd-to-inr-exchange-rate-today\/\">USD\/INR<\/a> was higher by 33 pips (+0.04%) to 71.605 with a daily range of 71.539 to 71.69 as of 10am GMT. The currency pair continues to creep lower after Monday\u2019s failed attempt to push through 72.00 failed. Accounting for the -0.33% fall on Wednesday, the exchange rate is -0.37% on the week so far.<\/p>\n<h2>INR boosted by low oil prices<\/h2>\n<p>The rupee is now up on the week against the dollar since falling oil prices offset some of India\u2019s recent economic slowdown through lower priced oil imports. But also because the dollar is off its weekly highs across many currencies. Oil prices being depressed because of travel restrictions and border controls is not all good news for India. If oil imports are affected, India may find itself with a shortage. But for now, especially with no reported cases of the coronavirus in India, lower oil prices are aiding the rupee.<\/p>\n<p>Hopes had been pinned on an emergency OPEC meeting next month to agree on oil production cuts and sure up the price of oil with lower supply to match the fall in demand. In a tragic irony, the meeting (where the purpose is to protect oil prices from the coronavirus threat) may not go ahead because of a possible case of the coronavirus in Vienna, Austria, where OPEC is headquartered, and the meetings are typically held.<strong>\u00a0<\/strong><\/p>\n<h2>USD down as Trump does not solve concerns about coronavirus<\/h2>\n<p>US President Donald Trump failed to lessen market concerns during his press conference on the coronavirus. He said nothing out of place but there was a sense the US might not be well prepared enough for an outbreak so the line that got the most attention was that the coronavirus will \u201cprobably spread in the US\u201d. Adding to evidence that it might already be happening, the Centre for disease Control (CDC) confirmed a first case of coronavirus \u2018of unknown origin.\u2019<\/p>\n<hr \/>\n<h6><em>Currencylive.com<\/em><em> is a news site only and not a currency trading platform.<\/em><\/h6>\n<h6><em>Currencylive.com is a site operated by TransferWise Inc. (&#8220;We&#8221;, &#8220;Us&#8221;), a Delaware Corporation. We do not guarantee that the website will operate in an uninterrupted or error-free manner or is free of viruses or other harmful components. The content on our site is provided for general information only and is not intended as an exhaustive treatment of its subject. We expressly disclaim any contractual or fiduciary relationship with you on the basis of the content of our site, any you may not rely thereon for any purpose. You should consult with qualified professionals or specialists before taking, or refraining from, any action on the basis of the content on our site. Although we make reasonable efforts to update the information on our site, we make no representations, warranties or guarantees, whether express or implied, that the content on our site is accurate, complete or up to date, and DISCLAIM ANY IMPLIED WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE. Some of the content posted on this site has been commissioned by Us, but is the work of independent contractors. These contractors are not employees, workers, agents or partners of TransferWise and they do not hold themselves out as one. The information and content posted by these independent contractors have not been verified or approved by Us. The views expressed by these independent contractors on currencylive.com do not represent our views.<\/em><\/h6>\n","protected":false},"excerpt":{"rendered":"<p>The US dollar is down against the Indian rupee on Thursday with the rupee seen as a beneficiary of falling oil prices which slumped again on Wednesday to the weakest since late 2018. US President Trump\u2019s warning that the coronavirus \u201cwill probably spread in the US\u201d is weighing on the dollar. USD\/INR was higher by [&hellip;]<\/p>\n","protected":false},"author":163946604,"featured_media":82159,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1693,1381],"tags":[1712,1666,2038,1782,1398,1862,2422],"class_list":{"0":"post-96735","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-inr","8":"category-usd","9":"tag-donald-trump","10":"tag-inr","11":"tag-oil-prices","12":"tag-opec","13":"tag-usd","14":"tag-usd-inr","15":"tag-vienna"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.6 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>USD\/INR: Dollar Pressured after Trump Coronavirus Press Conference - 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\/102522-usd-inr-dollar-pressured-after-trump-coronavirus-press-conference\/\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Fabio Beccari\" \/>\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\\\/102522-usd-inr-dollar-pressured-after-trump-coronavirus-press-conference\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/102522-usd-inr-dollar-pressured-after-trump-coronavirus-press-conference\\\/\"},\"author\":{\"name\":\"Fabio Beccari\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#\\\/schema\\\/person\\\/33f0a0ab3cf382315be5bcec964c06cb\"},\"headline\":\"USD\\\/INR: Dollar Pressured after Trump Coronavirus Press Conference\",\"datePublished\":\"2020-02-27T10:39:29+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/102522-usd-inr-dollar-pressured-after-trump-coronavirus-press-conference\\\/\"},\"wordCount\":619,\"image\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/102522-usd-inr-dollar-pressured-after-trump-coronavirus-press-conference\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/currencylive.com\\\/news\\\/wp-content\\\/uploads\\\/2019\\\/11\\\/USD-INR-Indian-Rupee-Pares-Losses-after-Inflation-Surprise.jpg\",\"keywords\":[\"Donald Trump\",\"inr\",\"oil prices\",\"opec\",\"usd\",\"usd\\\/inr\",\"Vienna\"],\"articleSection\":[\"INR\",\"USD\"],\"inLanguage\":\"en-US\",\"copyrightYear\":\"2020\",\"copyrightHolder\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/102522-usd-inr-dollar-pressured-after-trump-coronavirus-press-conference\\\/\",\"url\":\"https:\\\/\\\/currencylive.com\\\/news\\\/102522-usd-inr-dollar-pressured-after-trump-coronavirus-press-conference\\\/\",\"name\":\"USD\\\/INR: Dollar Pressured after Trump Coronavirus Press Conference - 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