Mr Shri Jayant Sinha(Finance Minister) in written reply to a question in Lok Sabha today posted that Government will introduce 1 Billion Plastic currency notes of Rs10 denomination on trial basis in cities (Kochi, Mysore, Jaipur, Shimla and Bhubaneswar). The whole idea is to increase the lifetime of the Currency notes. Once the field trial is successful RBI might replace the old paper currency notes with Plastic Currency.
USDINR 4 hourly chart is shown with 13-13 period Wilders Moving average. There is buy signal on the chart since 9th November as the candle closes above the upper channel Rs49.33 of the 13-13 Wilders moving average channel since then there is a strong uptrend(Weaker Currency). Now the current supports are near Rs49.0. Closing below Rs.49 could offer shorting opportunity in USDINR.