The exchange rate of the US dollar Indian rupee (USD/INR) is traded upwards on Tuesday, compensating for the losses of the previous session. The pair closed with a decrease of -0. 13% on Monday to 73. 35. At 10:15 UTC, usd/INR was quoted at 0. 15. % down to 73. 45.
India on Tuesday recorded its lowest daily number of coronavirus in just about 3 months, as the country continues to show a downward trend since its September peak. There have been 46,790 new infections in the last 24 hours, bringing the total number of covid infections to 7. 6 million It is the highest time in the world, only the United States.
However, as the holiday season approaches, experts have warned that infections could increase in the coming weeks and months.
The increase in oil added pressure to the rupee. After a volatile start, oil grows higher, breaking 3 days of losses. WTI trades 0. 3% above $41. 00.
The US dollar has reversed past earnings and is trading a decline in opposition to its main peers, above the Indian rupee. The absence of new stimuli in the United States weighs on confidence.
Congressional fiscal stimulus talks continued and are expected to continue today, as time is running out by the Tuesday deadline set by House Speaker Nancy Pelosi. added that the differences remained.
If the two sides fail to reach an agreement until today’s deadline, there will be no further fiscal relief plan before the U. S. presidential election.
No high-impact American knowledge will be released today. With two weeks to go before the U. S. election, attention will be focused on the final debate between President Trump and Joe Biden later this week. Joe Biden leads the national polls.