{"id":97385,"date":"2020-03-11T07:30:18","date_gmt":"2020-03-11T11:30:18","guid":{"rendered":"https:\/\/currencylive.com\/news\/?p=97385"},"modified":"2020-03-11T08:23:10","modified_gmt":"2020-03-11T12:23:10","slug":"102654-usd-inr-indian-rupee-continues-recovery-off-17-month-low-vs-usd","status":"publish","type":"post","link":"https:\/\/currencylive.com\/news\/102654-usd-inr-indian-rupee-continues-recovery-off-17-month-low-vs-usd\/","title":{"rendered":"USD\/INR: Indian Rupee Continues Recovery Off 17 Month Low vs USD"},"content":{"rendered":"<p>The <a href=\"http:\/\/currencylive.com\/news\/currency\/inr\">Indian Rupee<\/a> is trending higher versus the weaker <a href=\"http:\/\/currencylive.com\/news\/currency\/usd\">US Dollar<\/a> for a second straight session on Wednesday.<\/p>\n<p>Having opened the day at 73.810, <a href=\"https:\/\/currencylive.com\/exchange-rate\/usd-to-inr-exchange-rate-today\/\">USD\/INR<\/a> is trading -0.7% at 73.610 at 11:00 UTC. This is at the lower end of the day\u2019s trading range of 73.588 \u2013 74.015.<\/p>\n<p>The <a href=\"https:\/\/currencylive.com\/exchange-rate\/usd-to-inr-exchange-rate-today\/\">USD\/INR<\/a> closed Tuesday\u2019s session -0.05% at 74.150, as\u00a0 the Indian Rupee rebounded from a 17 month low versus the dollar.<\/p>\n<h2>Indian Rupee Advances Despite Growth Outlook Cut<\/h2>\n<p>Volatility in the Indian Rupee has been high in recent trading sessions as investors continue to worry over the economic impact of <a href=\"https:\/\/currencylive.com\/news\/topic\/coronavirus\">coronavirus<\/a>. The killer virus has now infected over 115,000 people globally, killing over 4,200.<\/p>\n<p>The move higher for the Indian Rupee comes despite Moody\u2019s slashing Indian growth projections for this year. The ratings agency said that they now expected growth for 2020 to be just 5%, down from 5.3% -5.4%. Moody\u2019s pointed to an extensive and prolonged slump as a result of the coronavirus outbreak will reduce growth in Asia\u2019s third largest economy. The virus is causing simultaneous supply and demand shocks hitting small businesses and broader economies.<\/p>\n<p>Just under one month ago Moody\u2019s had reduced India\u2019s growth projection from 6.6% to 5.4% for this year.<\/p>\n<h2>US Dollar Drops On Trump\u2019s Silence<\/h2>\n<p>The US dollar is trading on the back foot against many of its peers as investors grow increasingly sceptical over US fiscal stimulus packaged announced by President Trump earlier in the week. Trump announced a \u201cmajor\u201d and \u201cvery dramatic\u201d economic support package for the US on Monday evening. However, there have been no details since. The silence from the White House has raised concerns that any stimulus package is being delayed.<\/p>\n<p>Also weighing on the value of the dollar, re growing expectations that the Federal Reserve will cut interest rates again in March at its scheduled monetary policy meeting, later in the month. This would come after the Fed cut interest rates by 50 basis points last Monday. The BoE also cut interest rates by 50 basis points in a surprise, emergency cut today.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Indian Rupee is trending higher versus the weaker US Dollar for a second straight session on Wednesday. Having opened the day at 73.810, USD\/INR is trading -0.7% at 73.610 at 11:00 UTC. This is at the lower end of the day\u2019s trading range of 73.588 \u2013 74.015. The USD\/INR closed Tuesday\u2019s session -0.05% at [&hellip;]<\/p>\n","protected":false},"author":163946597,"featured_media":82150,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1693,1381],"tags":[2437,1409,1655,1666,1812,1509,1400,1397,1398,1862],"class_list":{"0":"post-97385","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-inr","8":"category-usd","9":"tag-coronvirus","10":"tag-gdp","11":"tag-indian-rupee","12":"tag-inr","13":"tag-moodys","14":"tag-stimulus","15":"tag-trump","16":"tag-us-dollar","17":"tag-usd","18":"tag-usd-inr"},"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: Indian Rupee Continues Recovery Off 17 Month Low vs USD - 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\/102654-usd-inr-indian-rupee-continues-recovery-off-17-month-low-vs-usd\/\" \/>\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\\\/102654-usd-inr-indian-rupee-continues-recovery-off-17-month-low-vs-usd\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/102654-usd-inr-indian-rupee-continues-recovery-off-17-month-low-vs-usd\\\/\"},\"author\":{\"name\":\"Fiona Cincotta\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#\\\/schema\\\/person\\\/8ef0fafb6c93f1204150bb907b42cfec\"},\"headline\":\"USD\\\/INR: Indian Rupee Continues Recovery Off 17 Month Low vs USD\",\"datePublished\":\"2020-03-11T11:30:18+00:00\",\"dateModified\":\"2020-03-11T12:23:10+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/102654-usd-inr-indian-rupee-continues-recovery-off-17-month-low-vs-usd\\\/\"},\"wordCount\":348,\"image\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/102654-usd-inr-indian-rupee-continues-recovery-off-17-month-low-vs-usd\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/currencylive.com\\\/news\\\/wp-content\\\/uploads\\\/2019\\\/11\\\/GBP-INR-Rupee-Benefits-from-US-China-Trade-Optimism.jpg\",\"keywords\":[\"coronvirus\",\"gdp\",\"indian rupee\",\"inr\",\"moody's\",\"stimulus\",\"trump\",\"us dollar\",\"usd\",\"usd\\\/inr\"],\"articleSection\":[\"INR\",\"USD\"],\"inLanguage\":\"en-US\",\"copyrightYear\":\"2020\",\"copyrightHolder\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/102654-usd-inr-indian-rupee-continues-recovery-off-17-month-low-vs-usd\\\/\",\"url\":\"https:\\\/\\\/currencylive.com\\\/news\\\/102654-usd-inr-indian-rupee-continues-recovery-off-17-month-low-vs-usd\\\/\",\"name\":\"USD\\\/INR: Indian Rupee Continues Recovery Off 17 Month Low vs USD - 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