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MUMBAI, June 22 (www.GoldTradingCalls.com ) Indian rupee on Monday rose to its highest level against the USD in a month, in line with other Asian peers as China’s decision to ease the yuan’s peg to the greenback boosted local stocks and encouraged investors to buy currencies perceived riskier.
USD INR was quoted at INR45.76 in late trade, down from INR46.17 in late Friday trade. This was the dollar’s lowest level since May 18, when it touched INR47.77.
“The RBI’s absence from the foreign exchange market may also make the rupee particularly well placed to gain from the yuan de-pegging,” Standard Chartered Bank said in a report.
USD INR will has a strong support around 45.52-45.31 levels . These levels coincide with the .618 retracement levels from the earlier trend up. These levels also in the visinity of Gann 4/8 level at INR 45.31. Traders who were short earler can cover up thier positions.
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hello sir,
please tell me the estimate forecast rate (INR to USD) from 23 jun10 to onwards.
when will be the cost of dollar become low upto 10-15 days