Indian Rupee Weakness Bolsters Bitcoin Price in INR

On August 18th, Bitcoin's price in Indian Rupees (INR) saw a notable move due to the asset's appreciation against the US dollar and the weakening of the rupee. The $BTC/USD price rose about 1.13% to around $64,280, while the USD/INR exchange rate decreased slightly, making one Bitcoin worth approximately ₹61.50 lakh before accounting for exchange spreads and fees.

This two-market move resulted in a higher local return than the dollar-denominated gain due to the combination of the crypto price increase and rupee depreciation. The rupee's weakness against the dollar added only a modest boost, which was significantly smaller than Bitcoin's price movement.

The technical levels of Bitcoin also remained important for assessing whether the recovery could extend beyond its 50-day moving average of around $64,162. The 14-day Relative Strength Index (RSI) stood at approximately 49, indicating weak-to-neutral momentum rather than strong upside pressure.