The USD/INR is the quote for the US Dollar, the base currency, quoted against the Indian Rupee, the quote currency.
The INR is the legal tender of India but in official use by Bhutan and Nepal. It traces its origins to the 6th to 4th century BC, and India was one of the first countries to issue coins besides China and no longer existent Lydia. The original Rupee was a silver coin, but some texts mention gold, copper, and lead coins alongside silver coins.
India is an emerging market economy and the most populous economy globally, with ambitions to transition to a developed economy over the next 25 years. The Indian economy has many challenges to transform, including dated infrastructure, inefficient manufacturing, high unemployment, and poverty. Therefore, the Indian Rupee is one of the worst-valued national currencies against the US Dollar.
BRICS membership highlights the importance of India and the Indian Rupee globally. India is the Asian counterpart to China, aiming to offer Western economies an alternative for outsourcing and supply chain management. The USD/INR is a thinly traded currency pair and is not widely available at most online Forex brokers. India also has domestic restrictions on Forex trading.
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The USD/INR jumped to new record high values early today and the 85.0000 ratio has been penetrated making this level a worthwhile consideration for speculators and financial institutions.
During my daily analysis of exotic currency pairs, the USD/INR pair has caught my attention, as we continue to threaten a major resistance barrier.
The USD/INR has seen new highs in early trading this morning, and day traders who are speculating on the currency pair need to remain vigilant as the bullish trend flourishes in choppy conditions.
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During my daily analysis of exotic currency pairs, the USD/INR pair has been relatively quiet during the Monday and Tuesday sessions.
The USD/INR has responded to the election of Donald Trump as the President-elect with a strong jump higher early today, and the currency pair is traversing near the 84.2200 mark with fast conditions and a large price spread.
During my daily analysis of exotic currency pairs, the first thing I notice about the USD/INR pair is that we are right back to the recent highs yet again.
The USD/INR has touched another higher apex in early trading today, the currency pair continues to display an incremental bullish trend, but traders need to be wary of the occasional burst lower too.
The US dollar has been fairly quiet against the Indian rupee during the trading session on Thursday, mimicking the action of the last several days.
The USD/INR is trading above the 84.0000 level in a rather sustained manner since the 11th of October as a weaker Indian Rupee has seemingly been agreed upon by the Reserve Bank of India.
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As I look at exotic currency pairs around the world, the USD/INR pair is one that I pay close attention to, as it has been in a massive uptrend for some time.
During my daily analysis of exotic currency pairs, the USD/INR currency pair has caught my attention as it looks very bullish at the moment.
Traders of the USD/INR have been treated to another round of Reserve Bank of India governance regarding the currency pair as the higher price realms have again taken hold.
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The US dollar initially fell a bit during the trading session on Tuesday against the Indian rupee, testing the 84 level.
During my daily analysis of exotic currency pairs, the US dollar is captured my attention as we continue to see it stretch higher against the Indian rupee.
The US dollar gapped lower showing signs of weakness against the Indian rupee right away on Monday but has turned around to fill that gap.