The US dollar has been on the rise against the Indian rupee for the second straight day in the forex markets today after declining last week, according to currency data in the middle of the US session today.
The USD/INR currency pair opened today near the 45.09 exchange rate level and reached it’s highest level in almost a week at an intraday high of 45.61. The pair is currently trading near the 45.55 level.
The dollar fell against the rupee last week after rising for three straight weeks. The American currency had touched a 26-month low at the 44.03 level on November 5th before the dollar rebounded as high as 46.29 on November 26th and had broken above the 200-day moving average (red line) before last week’s fall.
The pair is currently trading slightly above the 45.50 exchange rate level and right above the 21-day moving average (green line), according to data from Oanda.
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