• Risk appetite rises despite coronavirus cases soaring, boosting riskier India Rupee (INR)
  • High level military talks to ease China India tensions underpin INR
  • US Dollar moves lower with housing starts in focus
  • US Dollar Indian Rupee exchange rate (USD/INR) declines but holds above support at 76.00

The Indian Rupee is advancing on Monday, paring losses from the previous week. The Indian Rupee settled -0.3% lower against the US Dollar last week at 76.26.

At 10:15 UTC, USD/INR is trading -0.3% at 76.02. This is approximately mid-way through the daily traded range of 75.97 – 76.29 amid an improved mood in the market.

Risk appetite increased on Monday as investors focus on the global economic recovery over fears of rising coronavirus cases and as talks are underway to diffuse India China border tensions.

The World Health Organization reported a record increase in global coronavirus case, with the total rising by 183,020 in a 24 hour period. Two thirds of these new infections were seen in North and South America. India reported 15,400 new infections on Sunday with cases surging in remote villages after migrant workers fled the hard hit cities. Total infections in India now top 425,280.

Yet despite the increase in cases investors are selling out of the safe haven US Dollar, whilst buying into riskier assets and currencies such as the Indian Rupee. Stocks, which are also considered to be risky were also on the rise. US stock markets are pointing a 1% jump on the open, whilst the Indian Sensex also closed 0.5% higher.

Also keeping the Indian Rupee buoyant are easing geopolitical tensions between the two nuclear powers, Indian and China. The two sides are holding another round of talks at senior military level today, in a bid to defuse tensions and re-start the de-escalation process agreed to earlier this month.

The US Dollar economic calendar is relatively quiet this week with housing statistics and durable goods orders in focus. Mortgage applications continue to increase owing to reduced borrowing costs and widely available credit, which has improved the outlook for the housing market. This is already translating into rising housing starts and home builder confidence. is a news site only and not a currency trading platform. is a site operated by TransferWise Inc. ("We", "Us"), a Delaware Corporation. We do not guarantee that the website will operate in an uninterrupted or error-free manner or is free of viruses or other harmful components. The content on our site is provided for general information only and is not intended as an exhaustive treatment of its subject. We expressly disclaim any contractual or fiduciary relationship with you on the basis of the content of our site, any you may not rely thereon for any purpose. You should consult with qualified professionals or specialists before taking, or refraining from, any action on the basis of the content on our site. Although we make reasonable efforts to update the information on our site, we make no representations, warranties or guarantees, whether express or implied, that the content on our site is accurate, complete or up to date, and DISCLAIM ANY IMPLIED WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE. Some of the content posted on this site has been commissioned by Us, but is the work of independent contractors. These contractors are not employees, workers, agents or partners of TransferWise and they do not hold themselves out as one. The information and content posted by these independent contractors have not been verified or approved by Us. The views expressed by these independent contractors on do not represent our views.