With the initiation of a program sponsored by the World Bank, international investors can be able to buy offshore rupee-dominated bonds. By this program, World Bank aimed to further strengthen the financial market in the country by attracting overseas investment.
In 1935, under the Paper Currency Act of 1861, the Raj was granted the monopoly of issuing notes, ending the practice of private and presidency banks. But these currencies continued to be in use till the RBI issued its own coins and notes. Interestingly, till about 50 years ago, other currencies besides the RBI’s existed in, for instance, Portuguese Goa and Hyderabad.
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.
This is my first simple review with USDINR using simple trendlines Daily Charts of USDINR charts shwos the recent supports near 45.82 got broken and USDINR is trading below the support zone along with sell signal from the basic MACD. Iam Expecting rupee strengthening against dollar in coming sessions with resistance zone […]