USD/INR – Rate, Chart, Analysis & News
USD/INR is a Forex ticker that represents the price it will cost you in Indian Rupee to buy 1 USD. FX currencies are shortened to three-letter abbreviations for ease and are called ISO codes. The Forex market trades in these currency pairs and have a quote structure of Base/Quote (USD/INR).
The live USD/INR rate is shown below in an interactive chart that you can use for technical analysis. Our real-time news and analysis will keep you up to date with factors affecting the price movements of USD/INR, both fundamental and technical.
Recommended Forex Brokers to Trade USD/INR
USD/INR trading is offered by the following Forex brokers:
|Forex broker||USD/INR pair||USD/INR spread||Minimum Account||Maximum leverage|
|Alpari (India)||yes||25 pips||$200||500 : 1|
|Alpha Capital Markets||yes||12 pips||$500||400 : 1|
|BFX (USDINR Index Futures)||yes||5 pips||$||?|
|COFX||yes||? pips||$2000||200 : 1|
|Core Liquidity Markets||yes||10-26 pips||$1000||200 : 1|
|FXTG||yes||8 pips||$1000||300 : 1|
|GCI Financial||yes||10 pips||$2000||400 : 1|
|Ikon Global Markets||yes||6-7 pips||$1000||50 : 1|
|MTrading||yes||? pips||$1||500 : 1|
|OANDA||yes||25 pips||$1||50 : 1|
|SkyFX||yes||8 pips||$500||300 : 1|
|STOCK.com||yes||100 pips||$250||200 : 1|
The USD/INR is emerging as a popular currency pair out of the exotic pairs group. It represents the exchange rate between the US Dollar (USD) against the Indian Rupee (INR). It is monitored by the Reserve Bank of India, which creates a managed floating rate
Trading the USD/INR pair is an attractive investment opportunity for traders in the wake of India’s growing economy and business climate.
USD/INR Significant Price Movements
Various factors have influenced the exchange rate of the Indian Rupee including trade flows, investment flows, and oil prices.
Following the recession of 2008, the rupee’s value fell in comparison to the international standard. The Indian rupee reached an all-time low in 2013 and had been in free fall against the dollar having started the year at INR 55 and falling as low as 61 to USD. The domestic economy worries including the huge current account deficit and the over-dependence on capital inflows have been influencing its value in the past years.
India’s policy of allowing its currency to float against other currencies creates a reasonably volatile pairing with the US Dollar.
Which is the best broker to trade the USD/INR pair?
There are not many online brokers that support day trading of the USD/INR pair. We are constantly evaluating new and existing brokers to recommend the most reliable ones. For more information, you can go to our page that reviews and compares the best Forex brokers to learn more about the different platforms where you can trade USD/INR.
When I trade the USD/INR pair will I own the actual currency?
No. CFDs allow you to speculate on rises and falls in the currency pair without having physical ownership. With CFDs, you only have to put in a fraction of the market value of the underlying asset when making a trade. Unlike investing, when you trade CFDs, you are not buying or trading the underlying asset. What you are buying/selling is a contract between yourself and the CFD provider.
How to trade the USD/INR pair?
One way to trade the USD/INR pair is by using technical analysis. The Indian Rupee is not fully afloat, so it cannot be called a freely traded instrument. It is liquid, but is subject to intervention from the Reserve Bank of India.
Another way is to use spread betting. For that purpose, you must keep an eye on international news for any events that may impact the currencies you are trading.
The three analysis techniques are fundamental, sentiment and technical. We’d recommend having a good grasp on the fundamentals because this pair isn’t as actively traded as others and so isn’t as liquid.