Of currencies and currents

Priyanka menta Compass

Let’s take a look at some simple data and see what the rates and currencies have done over the past few years.

In India the reserve bank reports the Lending Rate. This remained unchanged at 6.5 per cent percent in August from 6.5 per cent percent in July of 2016. Taking a look back at some old data Bank Lending Rate in India ranged from 6.25 per cent in 2005 to 6.5 per cent in 2016, reaching an all-time high of 9 per cent percent and a record low of 4.25 per cent percent.

On the contrary if we look at the relationship between AUD and INR over past 10 years we can see a high of 61.73 in 2013 and a low of 30.50 in 2009. Considering these levels and historical data I think we are sitting on a very strong level currently.

In Australia RBA had cut the rates to an all-time low of 1.5 per cent and we have had some strong data out of the US but still the AUD/USD pair is currently trading over .7700. Both for importers and individuals who want to sell AUD must consider these levels.

On 10 August 2016 at 10.06 p.m. AUD/USD is trading at .7741 and AUD/INR is trading at 51.62.

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