Amid, Corona fears and country GDP data is out at 4.7%, it is absolutely interesting times to discuss USDINR short term trend. Data released on Friday showed GDP (gross domestic product) grew by 4.7% in the December quarter, slower than the upwardly revised growth of 5.1% in the previous quarter and below the downwardly revised 5.6% in the December quarter of 2018-19
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.
Which one will be consider as the alternative currency Gold or Bitcoin in the future? Will a physical gold will be the future currency or the virtual currecy like bitcoins. The following infographic provides a succinct illustration of the similarities and differences between gold and bitcoin.
USDINR on the daily charts is in long term sell mode since Sep 2013. Currently the EOD resistance comes near to 60.49. USDINR will turn to long term buy mode if the resistance levels breaks on the upper side.
USDINR – 4 hourly chart is shown with 13-13 period Wilders Moving average channel offset trading system. Ruppee Continues with the buy signal since 8th Nov 2011 on the chart with the 4 hourly support coming around Rs. 51.7.
In an early trade on Thursday, the Indian rupee fell by 46 paise to a record low of Rs 54.17 per US dollar, breaching the Rs 54 per dollar-mark for the first time in history on sustained foreign capital outflows and dollar gains against the euro and other rivals overseas.
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.
Charts shows the open interest charts for USDINR. And from the charts there is a higher open interest builtup at Rs 45CE which indicates that Rs45/dollar is the strong resistance for the current option series and call writers are busy in killing the premium of 45CE for June series.
For the first time in the country’s minting history, government will issue coins of Rs. 150, marking the number of years of taxation in India.
Download the font Rupee.ttf or the new version Rupee_Foradian.ttf. Foridan Technologies had made the first font with support for Indian currency symbol.