USD to INR pair trading
Although not necessarily thought of as one of the major forex pairs available to global traders, the USD to INR pair has proven to be right up there among the most profitable and therefore most popular. The US dollar is widely considered as the benchmark for global transactions and therefore has a direct impact upon the strength of the Indian rupee, among several other currencies.
According to the Office of the United States Trade Representative, India is the US’ ninth largest goods trading partner at an estimated value of $142.6 billion in 2018. The two countries enjoy strong collaborations in precious metal and stone, mineral fuels and pharmaceuticals, which can make the USD to INR pair an enticing one for traders looking to capitalise on long and short-term opportunities.
USD to INR news
Recent USD to INR news has been dominated by the United States government removing India from the list of countries it is monitoring for currency manipulation, which it is hoped will pave the way for further and improved discussions between the two parties.
On top of that, the US’ decision to impose an extra 10% duty on importing goods manufactured in China will have a widespread impact across the global forex market, including the USD to INR rate. That’s because the US-China trade war will place pressure on currencies across Asia, including the Indian rupee.
Crude oil prices are also a factor worth considering for those traders following USD to INR news. India imports the vast majority of its crude oil, meaning any fluctuations in its pricing can have a significant effect on the USD to INR rate.
USD to INR chart
OANDA’s live USD to INR chart offers you the ability to track the progress of this popular currency pair in real time. Our chart provides current and potential future traders with the opportunity to gain insight into the USD to INR pair’s movement over the previous hour, day, week and month to help them identify any possible trends. However, this data must not be used as a guarantee or prediction of any future performance