USD/INR Price News: Rupee grinds near 81.90 as India growth optimism supersedes easy inflation woes – by anilpanchal7 USDINR RiskAppetite Inflation Growth Fed
IMF expects India to lead global growth numbers, softer CPI appears already priced in.Risk catalysts, more inflation clues eyed for clear directions.remains indecisive around 81.90 during early Thursday, following its first daily fall in four the previous day. In doing so, the Indian Rupee pair traces the broad market moves amid a light calendar and mixed macros.
On the other hand, IMF terms India as one of the fastest growing economies in the world even as it cuts New Delhi’s 2024 Gross Domestic Product forecast. That said, the global lender estimates the Asian nation to grow by 5.9% in the current fiscal year versus 6.1% anticipated previously. Further, the Minutes of the latest Federal Open Market Committee Monetary Policy Meeting also challenged the Fed hawks by stating that the expectations for rate hikes were scaled back due to the turmoil in the banking sector. “Several Federal Reserve policymakers last month considered pausing interest rate increases after the failure of two regional banks and a forecast from Fed staff that banking sector stress would tip the economy into recession,” mentioned Reuters.
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