USD/INR: Rupee third best EM currency this month, courtesy oil sell-off

Dhwani Mehta FXStreet

According to the latest Bloomberg data, the Indian Rupee (INR) emerged the third best performing currency among the Emerging Market (EM) currencies this month, with the gains mainly driven by the recent weakness in oil prices.

The Rupee climbed 2.80% versus the US dollar so far this month when compared to the rise in the Chilean Peso and the Indonesian Rupiah. Barring this month’s rise, the Rupee has been one of the worst performing EM currencies this calendar year.

At the press time, the USD/INR cross flirts with 11-week lows of 71.07, having failed several attempts to recover above the 71.20 level.

USD/INR

Overview:
    Last Price: 71.1425
    Daily change: 2.2e+2 pips
    Daily change: 0.0316%
    Daily Open: 71.12
Trends:
    Daily SMA20: 72.6204
    Daily SMA50: 72.9368
    Daily SMA100: 71.293
    Daily SMA200: 68.8372
Levels:
    Daily High: 71.444
    Daily Low: 71.12
    Weekly High: 73.087
    Weekly Low: 71.7125
    Monthly High: 74.504
    Monthly Low: 72.525
    Daily Fibonacci 38.2%: 71.2438
    Daily Fibonacci 61.8%: 71.3202
    Daily Pivot Point S1: 71.012
    Daily Pivot Point S2: 70.904
    Daily Pivot Point S3: 70.688
    Daily Pivot Point R1: 71.336
    Daily Pivot Point R2: 71.552
    Daily Pivot Point R3: 71.66

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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