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
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended content
Editors’ Picks
EUR/USD consolidates recovery below 1.0700 amid upbeat mood
EUR/USD is consolidating its recovery but remains below 1.0700 in early Europe on Thursday. The US Dollar holds its corrective decline amid a stabilizing market mood, despite looming Middle East geopolitical risks. Speeches from ECB and Fed officials remain on tap.
GBP/USD advances toward 1.2500 on weaker US Dollar
GBP/USD is extending recovery gains toward 1.2500 in the European morning on Thursday. The pair stays supported by a sustained US Dollar weakness alongside the US Treasury bond yields. Risk appetite also underpins the higher-yielding currency pair. ahead of mid-tier US data and Fedspeak.
Gold appears a ‘buy-the-dips’ trade on simmering Israel-Iran tensions
Gold price attempts another run to reclaim $2,400 amid looming geopolitical risks. US Dollar pulls back with Treasury yields despite hawkish Fedspeak, as risk appetite returns.
Ripple faces significant correction as former SEC litigator says lawsuit could make it to Supreme Court
Ripple (XRP) price hovers below the key $0.50 level on Thursday after failing at another attempt to break and close above the resistance for the fourth day in a row.
Have we seen the extent of the Fed rate repricing?
Markets have been mostly consolidating recent moves into Thursday. We’ve seen some profit taking on Dollar longs and renewed demand for US equities into the dip. Whether or not this holds up is a completely different story.