The USD/INR pair edges higher to near 83.50 during the early European session on Thursday.
USD/INR gains ground as US Treasury yields recover on Thursday. The US Dollar may struggle due to the growing expectations of multiple rate cuts by the Fed in 2024. India 's Trade Deficit increased to $19.1 billion in April due to lower exports and a rise in Gold imports. The upward correction in the US Dollar helps the pair to retrace its recent losses registered in the last two days.
On Wednesday, India's Trade Deficit, released by the Ministry of Commerce and Industry, increased to $19.1 billion in April, from the previous reading of $15.6 billion. This increase could be attributed to lower exports and a surge in Gold imports, according to government data.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
USD/INR rebounds amid firmer US Dollar, hawkish Fed stanceIndian Rupee (INR) is losing its recovery momentum on Wednesday amid US Dollar (USD) demand from importers and bets that US Federal Reserve (Fed) rate cuts are not imminent.
Read more »
USD/INR loses momentum on softer US DollarIndian Rupee (INR) recovers some lost ground on Monday amid the softer US Dollar (USD) and lower crude oil prices.
Read more »
Australian Dollar rises on upbeat CPI figures, subdued US DollarThe Australian Dollar (AUD) extends its winning streak for the third successive day after the release of the better-than-expected Consumer Price Index (CPI) data on Wednesday.
Read more »
USD/INR loses traction ahead of Indian and US PMI dataThe Indian Rupee (INR) gains ground on Tuesday, backed by likely equity inflows and US Dollar (USD) sales from state-run banks.
Read more »
USD/INR recovers its recent losses, geopolitical risks eyedIndian Rupee (INR) snaps the three-day winning streak on Monday.
Read more »
USD/INR loses traction, eyes on potential RBI interventionIndian Rupee (INR) recovers some lost ground on Thursday. The INR dropped to a record low on Wednesday, weighed by the worries that escalating tensions in the Middle East could disrupt supplies and boost oil prices.
Read more »