Protected against excessive volatility by India’s central bank and backed by one of the world’s fastest growing economies, the rupee could withstand the US dollar’s post-election surge better than many emerging market currencies, economists say. While emerging markets currencies have on average lost 4.6% against the dollar since Trump’s election victory on 8 November, the rupee has lost only 2%. Analysts expect the rupee to continue to fare better than emerging market peers because of the country’s faster economic growth, and near-record foreign exchange reserves of $368 billion, which the Reserve Bank of India’s regularly dips into to smooth out excessive volatility in the currency market.
>>> Nifty 15 Mins Chart <<<
>>> Click the chart to see on full screen <<<
If the above chart - for ending diagonal is not wrong - Expect a Pull back above the diagonal - Else price may test 8020.
