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Name | Symbol | Market | Type |
---|---|---|---|
United States Dollar vs Indian Rupee | FX:USDINR | Forex | Exchange Rate |
Price Change | % Change | Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.0411 | 0.05% | 83.40635 | 83.4061 | 83.4066 | 83.44005 | 83.335 | 83.36425 | 0 | 17:06:53 |
The Indian rupee firmed against the U.S. dollar in evening trading on Tuesday, after data showing bigger-than-expected increase in wholesale price inflation in February prompted investors to rule out the possibility of rate cut any time soon.
Preliminary data from the Ministry of Commerce & Industry showed that India's wholesale price inflation accelerated at a faster-than-expected pace in February.
Wholesale prices climbed 6.55 percent year-over-year in February, following a 5.25 percent increase in the prior month. Economists had expected the inflation to rise to 6.1 percent.
Further underpinning the currency was the sweeping state election victory of ruling party, which helped bolster expectations for continuation of key reform measures.
The Indian rupee advanced to 65.86 against the greenback, a level unseen since December 2015. At Monday's close, the pair was valued at 66.15. Continuation of the rupee's uptrend may see it challenging resistance around the 64.5 region.
1 Year US Dollar vs INR Chart |
1 Month US Dollar vs INR Chart |
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