USD/INR Exchange rate
Editors’ Picks
EUR/USD extends slide below 1.1700
The EUR/USD pair nears its weekly low at around 1.1660 in the American session on Tuesday, retreating from the 1.1750 price zone tested earlier in the day. Cautiously optimistic markets support the US Dollar in the near term.
GBP/USD retreats from three-month-high, pierces 1.3500
GBP/USD extends its intraday slide and trades in the red just below 1.3500 after setting a new three-month-high near 1.3570. Ahead of this week's key employment data releases from the US, markets recover the good mood.
Gold extends its advance aims to recover hte $4,500 mark
Gold eases from the weekly high it set at $4,475 but clings to modest gains above $4,450 in the second half of the day on Tuesday. While a rebound in the US Dollar caps the yellow metal's upside, heightened political tensions allow XAU/USD to keep its footing.
Crypto Today: Bitcoin, Ethereum, XRP uptrend cools amid surging ETF inflows
Bitcoin is retracing toward support at $93,000 at the time of writing on Tuesday, after reaching a previous day’s high of $94,789. Ethereum and Ripple uptrend has cooled after several days of persistent gains, suggesting potential profit-taking.
Implications of US intervention in Venezuela
Events in Venezuela are top of mind for market participants, and while developments are associated with an elevated degree of uncertainty, we are not making any changes to our markets or economic forecasts as a result of the deposition of Nicolás Maduro.
Majors
Cryptocurrencies
Signatures
USD/INR
The USD/INR pair tells the trader how many Indian Rupees (the quote currency) are needed to purchase one U.S. dollar (the base currency). The Rupee is symbolized by ₹ and is the 20th most traded currency worldwide.
HISTORIC HIGHS AND LOWS FOR USD/INR
- All-time records: Max: 69.528 on 28/08/2013 - Min: 1.30 in 1948
- Last 5 years: 74.42 on 11/10/2018 - Min: 61.81 on 28/03/2015
* Data as of February 2020
ASSETS THAT INFLUENCE USD/INR THE MOST
- Currencies: USD, CNY and GBP.
- Commodities: Gold, oil and silver (India is a major oil and commodity importer).
- Bonds: T-NOTE 10Y (10 year United States Treasury note) and GIND10YR (India Government Bond Generic Bid Yield 10 Year).
- Indices: S&P BSE SENSEX (S&P Bombay Stock Exchange Sensitive Index), NIFTY (National Stock Exchange of India's benchmark stock market index for Indian equity market) and NSE (National Stock Exchange of India Ltd).
ORGANIZATIONS, PEOPLE AND ECONOMIC DATA THAT INFLUENCE USD/INR
In India, the organizations and people that affect the most the moves of the USD/INR pair are:
- Reserve Bank of India which controls the issue and supply of the Indian rupee. RBI is the regulator of entire Banking in India. It plays an important part in the Development Strategy of the Government of India, issues statements and decides on the interest rates of the country. Its Governor is Shaktikanta Das.
- Government of India, often abbreviated as GoI, (whose President is Ram Nath Kovind) and its Ministry of Finance (whose minister is Nirmala Sitharaman) that implement policies that affect the economy of the country.
In the USA, we have:
- Fed, the Federal Reserve of the United States of America whose president is Jerome Powell. The Fed controls the monetary policy, through active duties such as managing interest rates, setting the reserve requirement, and acting as a lender of last resort to the banking sector during times of bank insolvency or financial crisis.
- The US Government (and its President Donald Trump): events as administration statements, new laws and regulations or fiscal policy can increase or decrease the value of the US Dollar and the currencies traded against it, in this case the Bank of India.
In terms of economic data, we should highlight the Trade Account Balance, a balance between exports and imports of total goods and services. A positive value shows a trade surplus, while a negative value shows a trade deficit. It is an event that generates some volatility for the USD/INR. If a steady demand in exchange for INR exports is seen, that would turn into a positive growth in the trade balance, and that should be positive for the INR.
Inflation is another economic value that is important for the USD/INR pair. It is measured among others by the CPI (Core Price Index) and the PPI (Production Price Index). They are key indicators to measure inflation and changes in purchasing trends.