Just like any other Emerging Market currency – USDINR also depreciated since the start of the year 2018. The recent Debt crisis in Argentina, Turkey and Brazil. The unexpected lift in dollar US FED rates made dollar attractive and Emerging markets are witnessing a big EM assets outflow as global investors started pulling their money from Emerging Markets.
USDINR – Yearly Profile
Technically, USDINR yearly profile structure is showing old money getting out of the system and more depreciation likely in the near term. If you notice carefully, all the last 3 years high is very close to the each other.
USDINR – Quarterly Profile
Quarterly profile is showing more depreciation odds as the value started building higher compared to the last 4 previous quarters. In medium term 66.6 could act as a potential support zone. USDINR might hit fresh all-time high in the upcoming quarter July – Sep 2018 period possibly testing 70 handle in USDINR.