USD/INR Price News: Indian rupee traces options market signals to renew record low near 79.20
USD/INR refreshes all-time high at 79.20 during Friday’s Asian session, bracing for the biggest weekly jump since late February.
In doing so, the Indian rupee (INR) pair justifies the hawkish signals flashed by the options market, in addition to the broad US dollar strength amid a risk-off mood.
That said, the one-month risk reversal (RR) for the USD/INR, a difference between the call and put options, jumps the most on the daily basis, to 0.175 on Thursday, per Reuters data.
The weekly RR, however, eyes the strongest figure since early May, at 0.105 by the press time.
It’s worth noting that the fears of economic slowdown and the market’s anxiety ahead of the US ISM Manufacturing PMI appear to have recalled the US dollar bulls after the greenback declined from a two-week high the previous day.
Read: US Dollar Index bulls approach fortnight high around 105.00, US ISM PMI in focus