The US dollar has been on the rise against the Indian rupee for a third straight day in the forex markets on Wednesday, according to currency data in afternoon of the US session.
The USD/INR currency pair opened the day near the 45.67 exchange rate level and advanced to it’s highest level since November 30th at an intraday high of 46.00. The pair has dipped from the high and is currently trading near the 45.92 level. This is the third consecutive day of gains for the dollar versus the rupee and the USD/INR has climbed from below 45.00 earlier in the week to reach 46.00.
The dollar was on the defensive against the rupee last week after streaking higher for three straight weeks. The American currency had declined to a 26-month low at 44.03 on November 5th before rebounding as high as 46.29 on November 26th.
USD/INR – The pair is currently trading just below the 46.00 exchange rate level and right at the technically significant 200-day moving average (white line), according to data from Oanda.
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