USD/INR in 2015
USD/INR opened 2015 at 63.27 and closed at 66.19, a +4.62% move for the year. The high of 67.1 was reached on December 11, and the low of 61.32 on January 22.
Monthly Breakdown
| Month | Open | Close | High | Low | Change |
|---|---|---|---|---|---|
| Jan | 63.27 | 62.01 | 63.57 | 61.32 | -1.99% |
| Feb | 61.68 | 61.67 | 62.41 | 61.67 | -0.02% |
| Mar | 61.87 | 62.31 | 63.06 | 61.76 | +0.71% |
| Apr | 62.14 | 63.58 | 63.58 | 61.99 | +2.32% |
| May | 63.63 | 63.71 | 64.19 | 63.31 | +0.13% |
| Jun | 63.59 | 63.59 | 64.21 | 63.43 | +0.00% |
| Jul | 63.55 | 63.87 | 64.24 | 63.24 | +0.50% |
| Aug | 63.99 | 66.39 | 66.8 | 63.67 | +3.75% |
| Sep | 66.34 | 65.5 | 66.7 | 65.5 | -1.27% |
| Oct | 65.57 | 65.4 | 65.57 | 64.7 | -0.26% |
| Nov | 65.58 | 66.43 | 66.86 | 65.46 | +1.30% |
| Dec | 66.46 | 66.19 | 67.1 | 66 | -0.41% |
Events During 2015
The PBoC devalued the yuan by 1.9% in a single day on August 11, 2015, the first meaningful devaluation since 1994. Global risk assets convulsed.
Brent crude fell from $115 in June 2014 to $27 in January 2016, a 77% collapse. Shale oversupply and OPEC's refusal to cut production broke the commodity supercycle that had dominated markets since 2003.
The Swiss National Bank abandoned its 1.20 EUR/CHF floor on January 15, 2015. The franc immediately surged 30%, blowing up retail FX brokers and exposing the fragility of exchange rate commitments.
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