USD/INR Price News: The Indian rupee follows Cues from the Options Market to Renew its Record Low Close to 79.20.

The USD/INR currency pair reaches a new record high at 79.20 on Friday during the Asian session, anticipating the greatest weekly increase since late February.

July 01, 2022 - 01:03 PM 245 views

USD/INR Price News: The Indian rupee follows Cues from the Options Market to Renew its Record Low Close to 79.20.

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© USD/INR Price News: The Indian rupee follows Cues from the Options Market to Renew its Record Low Close to 79.20.

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The USD/INR currency pair reaches a new record high at 79.20 on Friday during the Asian session, anticipating the greatest weekly increase since late February.

In doing so, the Indian rupee (INR) pair supports the hawkish signals displayed by the options market as well as the overall strength of the US dollar in a risk-off environment.

However, according to Reuters data, the USD/INR one-month risk reversal (RR), which measures the difference between call and put options, increased by the maximum on a daily basis on Thursday, reaching 0.175 points.

However, the weekly RR is expected to reach 0.105 at press time, the highest level since early May.

It's important to note that the US dollar bulls seem to have come back after the greenback slid from a two-week high the previous day due to concerns about an economic slowdown and market jitters prior to the US ISM Manufacturing PMI.

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