The US dollar has been on the climb against the Indian rupee for a second day in the forex markets on Wednesday, according to currency data near the end of the US session. The dollar managed to turn around early losses on Tuesday and closed approximately 25 points higher after a decline in Monday’s trading.
The USD/INR currency pair opened Wednesday near the 45.89 exchange rate level, according to currency data from Oanda. The pair reached an intraday high at the 46.23 exchange rate and currently trades just above the 46.10 level.
The dollar’s gains today has brought the USD/INR to its highest rating level since November 30th when the pair reached as high as 46.28.
USD/INR Daily Chart – The pair is currently trading back above the 200-day moving average (red line) for the first time in over two weeks. A previous resistance level is directly above at the 46.28 exchange rate.
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