USD/INR Exchange rate


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EUR/USD bulls flex muscles near 1.0780 hurdle amid mixed feelings of ECB

EUR/USD bulls flex muscles near 1.0780 hurdle amid mixed feelings of ECB

EUR/USD clings to mild gains around 1.0760-65 as it lacks follow through of the previous day’s heavy run-up amid the market’s cautious mood ahead of the key US employment data. Softer Eurozone inflation, mixed comments from ECB officials prod Euro buyers.

EUR/USD News

GBP/USD grinds above 1.2500 as BoE vs. Fed play intensifies, US jobs report eyed

GBP/USD grinds above 1.2500 as BoE vs. Fed play intensifies, US jobs report eyed

GBP/USD aptly portrays the pre-NFP anxiety in markets during early Friday as it seesaws around 1.2530 by the press time. In doing so, the Cable pair also justifies the latest challenges to the upside momentum flagged from London.

GBP/USD News

Gold eyes a sustained move above $1,992 on weak US Nonfarm Payrolls Premium

Gold eyes a sustained move above $1,992 on weak US Nonfarm Payrolls

Gold price is treading water above the $1,970 level on the United States Nonfarm Payrolls (NFP) day, as the US Dollar (USD) is licking its wounds, in the face of an upbeat market mood and mixed US economic data releases.

Gold News

Pro-XRP lawyer: Ripple losing the SEC lawsuit might be a blessing in disguise

Pro-XRP lawyer: Ripple losing the SEC lawsuit might be a blessing in disguise

XRP price made a decent recovery in the month of May, fueled by Ripple's chances of winning the lawsuit it is facing against the Security and Exchange Commission (SEC). The cryptocurrency has amassed a huge base of supporters, which might potentially expand further regardless of the outcome.

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The US labour market: A closer look at the data

The US labour market: A closer look at the data

The US will release its official labour market report on Friday, and traders are busy. The fast-growing indicator for new vacancies rose again in recent years, reaching over 10 million in April, defying the expected drop from 9.7 million to 9.4 million.

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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 Joe Biden): 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.