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USD/INR Price News: Indian rupee consolidates biggest losses in three weeks below 75 00

7/7/2021 4:33:20 AM GMT | By Anil Panchal USD/INR remains heavy around intraday low, reverses previous day’s gains. Indian Foreign Minister eyes strong economic recovery even as gross GST revenues disappoint optimists. Covid woes, mixed US data weigh on sentiment ahead of FOMC minutes. USD/INR struggles to overcome the intraday low of 74.62, down 0.14 near 74.65 amid early Wednesday. The Indian rupee (INR) pair jumped the most since mid-June the previous day as broad risk-off mood joined downbeat Goods & Services Tax (GST) data from India. “India’s gross goods and services tax revenue in June declined for a second straight month to fall below the one-trillion-rupee level for the first time in nine months,” Reuters quotes NewsRise. The details suggest that the Gross GST collection in June stood at 928.49 billion rupees ($12.45 billion), down from 1.03 trillion rupees collected in the previous month.

COVID-19 battered Indonesia grateful for vaccine donations

COVID-19 battered Indonesia grateful for vaccine donations
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