The US dollar has gained ground against the Indian rupee in the forex market today as the dollar has continued its hot streak since late last week.
The USD/INR currency pair opened the day near the 45.78 exchange rate and rose to touch its highest exchange rate in seven weeks at the 46.07 exchange rate. The highest position for the USD/INR since September 24th.
The pair currently trades around the 45.89 exchange rate before the end of the US session.
The dollar has made a strong reversal off the decline to a 26-month low point against the rupee that was reached on November 5th at the 44.03 level.
USD/INR – Dollar/Rupee currency pair rose above 50-day simple moving average (sma) in yesterday’s trading and today pierced the 200-day moving average before retreating lower.
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