Today was an extremely positive day for the Indian Rupee. It managed to gain 3,4% versus the US Dollar, thereby hitting 66,5555. This is the highest level in 27 years! This happened after India’s central bank announced currency swaps with 3 major oil-and-gas companies. This allows the national currency of India to high the highest level against the dollar since 1986.
The chart below, courtesy of Masterforex-V Academy, reflects the current state of affairs in the market of USDINR. The experts say that the positive news managed to make up for the previous decline that last for a couple of days in a row.
