USD/INR Exchange rate
Editors’ Picks
AUD/USD holds hot Australian CPI-led gains above 0.6500
AUD/USD consolidates hot Australian CPI data-led strong gains above 0.6500 in early Europe on Wednesday. The Australian CPI rose 1% in QoQ in Q1 against the 0.8% forecast, providing extra legs to the Australian Dollar upside.
USD/JPY sticks to 34-year high near 154.90 as intervention risks loom
USD/JPY is sitting at a multi-decade high of 154.88 reached on Tuesday. Traders refrain from placing fresh bets on the pair as Japan's FX intervention risks loom. Broad US Dollar weakness also caps the upside in the major. US Durable Goods data are next on tap.
Gold price struggles to lure buyers amid positive risk tone, reduced Fed rate cut bets
Gold price lacks follow-through buying and is influenced by a combination of diverging forces. Easing geopolitical tensions continue to undermine demand for the safe-haven precious metal. Tuesday’s dismal US PMIs weigh on the USD and lend support ahead of the key US macro data.
Crypto community reacts as BRICS considers launching stablecoin for international trade settlement
BRICS is intensifying efforts to reduce its reliance on the US dollar after plans for its stablecoin effort surfaced online on Tuesday. Most people expect the stablecoin to be backed by gold, considering BRICS nations have been accumulating large holdings of the commodity.
US versus the Eurozone: Inflation divergence causes monetary desynchronization
Historically there is a very close correlation between changes in US Treasury yields and German Bund yields. This is relevant at the current juncture, considering that the recent hawkish twist in the tone of the Fed might continue to push US long-term interest rates higher and put upward pressure on bond yields in the Eurozone.
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 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.