By FxNewsIndia – The US dollar has declined in the currency exchange markets today against the Indian rupee following three straight days of dollar strength. The USD/INR currency pair currently trades around the 44.57 exchange rate at the end of the US market session and is down from the day’s opening rate of approximately 44.73 rupees per dollar, according to currency data by Oanda.
The USD/INR managed to touch its highest level since November 1st earlier today at the 44.80 level before reversing and retreating lower. Last week, the dollar fell to its lowest exchange rate against the rupee since late 2008 after the US Federal Reserve’s announced a new quantitative easing program and the Reserve Bank of India’s raised interest rates.
The dollar had increased for three straight days before today’s turnaround.
USD/INR Daily Chart
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