USD/INR
Looks like INR is heading for a sharp depreciation against USD Any thoughts..?
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When in the history of India have we not depreciated against the dollar
Also to quote our learned finance minister , rupee isn't depreciating, dollar is appreciating
😂The quote part I get it...But I guess it was quoted in this sense 'Dollar has appreciated means it was appreciated against all global currencies, It's not like dollar and all other currencies remained same and only INR has depreciated'
It's stabilised now, right? Most of the decline was in 2022, effects of the fed printing $$$
Time will tell🤷♂️ But when a Technical analyst looks at this chart, they will probably say, there is high probability that USD/INR will give a breakout and INR is going to depreciate a big time against Greenback
You give your thoughts. I think the war uncertainty was factored in last week. Now it'll just remain rangebound because the feds and India kept rates fixed.
I feel like INR will have the same fate as Turkish Lira, same pattern same consolidation. May not be as drastic as Lira but definitely I feel like INR is going to have a sharp decline in value against USD