Where Will take a pause ? - The Journey of Rupee

Rupee getting stronger and stronger from last 4-5 weeks.

How much strength is there?

Updated: 26/03/2019

Hi there!

Today in this post I have to say something on the move of the Indian rupee. No doubt Indian rupee has appreciated very well from the last few weeks. Lifetime low of rupee was 74.49 and the recent high of today made 68.352, means it has appreciated or gained almost 6 rupees. Will this journey continue more or it will take a pause and reverse from this level? In my previous article, I wrote that rupee has a resistance near 68, you can read that post.

Rupee likely to sustain at 68 level

Well, there are possibilities to sustain at these levels. Lots of events have to watch in coming days which will affect all markets (equity, commodity, and currency). FOMC statement, Fed interest rate decision on 20 March in late night 11:30 PM, General Election in India in April and few more. So markets will await and like to react upon those events.

In today's morning session from the lower level, it shows some kind of sustainability and likely to move in reverse direction.

How Rupee move will impact on Indian commodity market?

There is a reverse relation between currency move and MCX commodity move. As we all know that if rupee starts weakening it will support the bullion (Gold & Silver) price as well as base metals and other commodities prices.