USDINR rebound today after four consecutive trading session of loses as the risk-off sentiment today shift investors attention to safe-haven US dollar. Indian Rupee gained momentum amid hopes of the coronavirus vaccine
USDINR
In this section, you will find our latest USDINR news and analysis, you will also be able to read about its history, and find a live chart for technical analysis.
As with any other currency pair, the Indian Rupee, USDINR, is heavily-affected by central bank decisions. For the dollar, the monetary authority in charge of managing the money supply in the economy is the Federal Reserve or the Fed.
Meanwhile, India’s monetary authority is the Reserve Bank of India or RBI. Interest rates are the single-most-important drivers of currency direction. For the Fed, it has the Federal Open Market Committee (FOMC) responsible for deciding on where interest rates should go.
Related currencies: USDMXN – USDNOK – USDRUB – USDSEK.
Meanwhile, in India, the Governor of the RBI announces rates following the advice of the Monetary Policy Technical Advisory.
India is the fourth-largest economy in the world and has thus been seen as one of the key drivers of global economic growth. It also boasts one of the largest populations in the world which amounts to around 1 billion residents.
What is USDINR?
USDINR is the financial symbol for the spot exchange rate between the US dollar and the Indian Rupee.
Just like most emerging economies, India was hard-hit by the 2008 financial crisis. However, it was not until 2013 when the Euro Zone debt crisis that the Indian Rupee hit an all-time low with USDINR exchange rate at 69.00 INR. The economy has since been on the road to recovery with the government working to liberalize its market by implementing more open policies on investment and trade. The RBI has adopted a relatively loose monetary policy to aid economic growth.
With that said, the central bank tends to be sensitive to inflation reports, making sure that prices do not get out of hand while assisting growth.
Some of India’s biggest exports include textiles, equipment, steel, chemicals, mining, machinery, and transportation among others. One of its biggest trading partners is China.
This means that the Indian Rupee also reacts to Chinese data. This is because positive Chinese growth is taken to mean that there would be more trading activity between the two countries.
Live USDINR Chart
Latest USDINR News
USDINR Slumps to Three Month Lows On Recovery Hopes
USDINR slumps in the early American trading session as the risk appetite spreads across the board. Hopes of a coronavirus vaccine after promising results in early-stage human trials from a vaccine from Pfizer
Preview of Indian Manufacturing and Inflation Data: USDINR In Focus
Wholesale price index data (WPI) for inflation and manufacturing are due from India at 6.30 am UTC. Sign up to find out how the USDINR pair may be affected by these economic data.
USDINR: Reserve Bank of India Unexpectedly Cuts Key Rate by 40bps to 4.0%
USDINR jumps after the Reserve Bank of India (RBI) unexpectedly cut its benchmark repurchase rate by 40 basis points to 4% while the reverse repo rate was also slashed to 3.35% in an emergency move that surprised markets. The rates now are at the lowest level since 2000. The central [...]
USDINR Retreat From All-Time Highs, On Improved Sentiment
USDINR retreat from all-time highs amid the coronavirus optimism around the globe. The strong rally in Indian equities today also support the Indian Rupee. The Indian rupee hit an all-time low against the greenback as the Indian currency remained under pressure amid a significant rise in coronavirus cases the last [...]
USDINR Jumps on the Reserve Bank of India’s (RBI) 75 Basis-Point Rate Cut
USDINR is trading higher today after the Reserve Bank of India (RBI) slashed rates to help support the economy amid the coronavirus pandemic. As of this writing, the currency pair is up by 1.27%. From 5.15%, the central bank slashed its repo rate by 4.40%. This is the first time [...]
USDINR: Indian Rupee Might Be Preparing for the Next Big Down Move on US-Iran Tensions
Today’s news of the death of General Soleimani has sent shockwaves across the financial markets, and the Indian Rupee, USDINR, has not been left untouched. As the US market was about to open for trading, USDNIR was up by 0.77% on the day, while other emerging market currencies such as [...]
USDINR Rebound Vulnerable Below 71.085
USDINR recovers early losses during Asian trading session and now trades 0.06% higher at 70.954. USDINR continue higher for the third consecutive session as the rebound from monthly lows continues. The rally in Indian Rupee against the U.S. dollar from November 13 high stalled at 70.455. Moody’s Investors Service, downgraded [...]
USDINR Stalls at Monthly Lows Ahead of FOMC Decision
USDINR trades 0.06% higher at 70.814 reversing earlier losses from monthly lows. The pair as pf writing halts the correction from December highs (71.74) mainly due to US dollar weakness and an unexpected move from Reserve Bank of India. In its December 5th policy meeting RBI left interest rates unchanged [...]
USDINR Correction Might Test 71.024 the 50-Day MA
USDINR trades 0.22% lower at 71.364 as the correction from monthly highs continues. The pair hit two-month highs after the Moody’s Rating Agency downgraded its outlook on India’s credit rating to “negative” from “stable”. Indian Rupee was under strong selling pressure as traders worried that the Indian government would fail [...]
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