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The USD/INR may continue to reach new historical highs.
Jin10 data reported on August 5th, according to foreign media analysis, the USD/INR reached a historical high of 88.03 on Tuesday, slightly above the 88 peak set in February of this year. At that time, the Indian Central Bank intervened vigorously to curb the rise of the USD/INR in February. However, there are currently almost no signs of large-scale selling of USD similar to what occurred then. Since February, the Indian Central Bank has lowered interest rates and built up forex reserves to support the USD/INR. The new high reached by the USD/INR on Tuesday may not be the last, as the currency pair could continue to test 88.25 or even 90.16.