Forex
CAD/INR Continues Downward Momentum Amid Strong Rupee Demand
The Canadian Dollar vs Indian Rupee (CAD/INR) pair has been trading at ₹67.8258, showing a modest decline on the session.
The pair sits below its key moving averages, indicating ongoing short-term downward momentum.
Indian banks have attracted over $40 billion in foreign currency deposits since June 5 through the US Dollar-Rupee forex swap facility, boosting rupee liquidity and dampening CAD/INR upside momentum.
CAD/INR trades under key moving averages, momentum signals remain bearish, and a further decline toward ₹67.4867 is more probable than a reversal.