In Jan 2008: 1 USD = 40 INR
Today: 1 USD = 68.4 INR
That's a move of 71%
This is how USDINR looks on the weekly chart over the time frame
Most of the Indians made a huge profit on Gold during this period and interestingly large part of gains have come from INR depreciation.
This is how USDINR has behaved since July 2014: Steady depreciation
INR has depreciated by 17% since May 2014. Also this time, Gold has not been profitable trade because Gold lost tremendous value since May 2014, canceling out gains from INR depreciation. So net gains on Gold = zero this time.
— RamaKrishnaVadlamudi (@vrk100) February 17, 2016
Can INR depreciate to 75 levels?
Disclaimer – The state of the market notes is Deepak’s perspective on the market. The column is purely for educational purpose. Nothing contained herein is a solicitation to trade or a recommendation of a specific trade. By reading this publication you agree to make no trade relying in whole or in part on the comments of the writers