{"id":98440,"date":"2020-04-06T06:59:12","date_gmt":"2020-04-06T10:59:12","guid":{"rendered":"https:\/\/currencylive.com\/news\/?p=98440"},"modified":"2020-04-06T07:57:00","modified_gmt":"2020-04-06T11:57:00","slug":"102932-usd-inr-indian-rupee-trades-near-all-time-low-as-service-sector-contracts","status":"publish","type":"post","link":"https:\/\/currencylive.com\/news\/102932-usd-inr-indian-rupee-trades-near-all-time-low-as-service-sector-contracts\/","title":{"rendered":"USD\/INR: Indian Rupee Trades Near All Time Low As Service Sector Contracts"},"content":{"rendered":"

The Indian Rupee<\/a> continues to trade near its all time low at the start of the new week. The Indian Rupee reached a record low of 176.4 last week. Today, at 11:15 UTC, USD\/INR<\/a> is trading at 176.2 on the open market.<\/p>\n

Check real time USD to INR exchange rate<\/span><\/a><\/div>\n

Service Sector Contracts, Worse Yet To Come<\/h2>\n

The Rupee remains under pressure as the impact of the coronavirus outbreak<\/a> on the Indian economy becomes clearer. Data showed that activity in India\u2019s service sector contracted in March as the coronavirus outbreak dented demand, both in the overseas markets and domestically.<\/p>\n

The IHS Markit India Services Business Activity Index dropped to 49.3 in March, down from February\u2019s 85 month high of 57.5. The Figure 50 separates expansion from contraction. Economists at IHS Markit warned that the impact of the pandemic on India\u2019s services had not been fully revealed yet. This is because the data was collected for the survey from 12th<\/sup> \u2013 27th<\/sup> March, concluding as India\u2019s Prime Minister, Narendra Modi, ordered the complete lock down of India.<\/p>\n

India\u2019s composite index, which tracks activity in both the manufacturing and service sectors, fell to 50.6 in March, down from 57.6 in February. The sudden slowdown in output has brought an abrupt end to the recent private sector expansion.<\/p>\n

In India there are now more than 4000 coronavirus cases. The country started a three week lock down period on Wednesday 25th<\/sup> March. However, Modi\u2019s government are already considering how to end the lock down as millions struggle to find food.<\/p>\n

Safe Haven Trade Eases<\/h2>\n

The US Dollar<\/a> has edged higher versus its major peers at the start of the week. However, its rally is showing signs of slowing as risk sentiments improves.<\/p>\n

Some signs over the weekend that the coronavirus outbreak could be easing in the worst hit areas have put the global markets in a more upbeat mood on Monday. Italy and Spain have reported a fall in the number of coronavirus related deaths. Meanwhile the curve is starting to flatten for France and Germany. Even the US has experienced a slight slowdown in deaths and cases over the weekend, although it is unclear how sustainable this trend in the US will be over.<\/p>\n

There is no high impacting US data today. Investors will remain focused on coronavirus statistics.<\/p>\n","protected":false},"excerpt":{"rendered":"

The Indian Rupee continues to trade near its all time low at the start of the new week. The Indian Rupee reached a record low of 176.4 last week. Today, at 11:15 UTC, USD\/INR is trading at 176.2 on the open market. Service Sector Contracts, Worse Yet To Come The Rupee remains under pressure as […]<\/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":[2139,1655,1666,1545,1397,1398],"class_list":{"0":"post-98440","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-inr","8":"category-usd","9":"tag-coronavirus","10":"tag-indian-rupee","11":"tag-inr","12":"tag-service-sector","13":"tag-us-dollar","14":"tag-usd"},"acf":[],"yoast_head":"\nUSD\/INR: Indian Rupee Trades Near All Time Low As Service Sector Contracts - 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\/102932-usd-inr-indian-rupee-trades-near-all-time-low-as-service-sector-contracts\/\" \/>\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\\\/102932-usd-inr-indian-rupee-trades-near-all-time-low-as-service-sector-contracts\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/102932-usd-inr-indian-rupee-trades-near-all-time-low-as-service-sector-contracts\\\/\"},\"author\":{\"name\":\"Fiona Cincotta\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#\\\/schema\\\/person\\\/8ef0fafb6c93f1204150bb907b42cfec\"},\"headline\":\"USD\\\/INR: Indian Rupee Trades Near All Time Low As Service Sector Contracts\",\"datePublished\":\"2020-04-06T10:59:12+00:00\",\"dateModified\":\"2020-04-06T11:57:00+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/102932-usd-inr-indian-rupee-trades-near-all-time-low-as-service-sector-contracts\\\/\"},\"wordCount\":417,\"image\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/102932-usd-inr-indian-rupee-trades-near-all-time-low-as-service-sector-contracts\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/currencylive.com\\\/news\\\/wp-content\\\/uploads\\\/2019\\\/11\\\/GBP-INR-Rupee-Benefits-from-US-China-Trade-Optimism.jpg\",\"keywords\":[\"coronavirus\",\"indian rupee\",\"inr\",\"service sector\",\"us dollar\",\"usd\"],\"articleSection\":[\"INR\",\"USD\"],\"inLanguage\":\"en-US\",\"copyrightYear\":\"2020\",\"copyrightHolder\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/102932-usd-inr-indian-rupee-trades-near-all-time-low-as-service-sector-contracts\\\/\",\"url\":\"https:\\\/\\\/currencylive.com\\\/news\\\/102932-usd-inr-indian-rupee-trades-near-all-time-low-as-service-sector-contracts\\\/\",\"name\":\"USD\\\/INR: Indian Rupee Trades Near All Time Low As Service Sector Contracts - 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