A large part of the workforce, and growing every day, is originally from India. As one of the largest populations in the world, they have a lot to offer in terms of employment. The sheer number of IT workers makes them a formidable traveling force as well, easily picking up employment in English speaking countries. However, since the beginning of the economic crises, many Indians have opted to stay or return home, and this has had a solid effect on the Indian Rupee (INR) as compared to the US Dollar (USD)… https://rupiah138.xn--6frz82g/
Because of the strong employment factor, the Rupee is partly, but strongly, pegged to the US Dollar. However, because of the dramatic shifts in the American economy in the past two years, the exchange rate has wildly fluctuated, often times changing upwards of five percent of its value, and varying almost fifteen percent of its value over the last two years.
There are a few currency theories that state that the increasingly powerful Rupee will depreciate against the dollar. Most turn to the economy as a reason for this, citing the industrialized world’s shrinking need for a global workforce as the economy contracts. There are a few examples of such coming from some corporate announcements, indicating that they do not plan to outsource any more than they have to.
On the other hand, there are even more who believe that the emerging strength of the Indonesian Rupiah, the Rupee, and the Chinese Renminbi are all likely to continue to strengthen against the dollar simply because of the continuing strength of the emerging markets when compared to the wilting American economy.
The truth is that, if you plan on betting against the Rupee, you had better have a good reason why, as the indicators and moving averages are all pointing up.
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