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AUD to INR Forecasts 2021

While a decrease in AUD/INR was forecast in 2020, the opposite occurred and that's been great news for Indian expat workers.

Australian dollar to Indian rupee bank forecasts

The Reserve Bank of India’s huge bond buying announcement in April sunk the Indian rupee back below 57 to the Australian dollar.

Unlike Latin American countries, which continue to benefit from a U.S. recovery, Asian countries are vulnerable to economic austerity in Saudi Arabia and elsewhere in the Middle East due to the drop in demand for Oil during the Covid pandemic. More than 60% of remittances to India, Bangladesh and Pakistan come from Gulf countries.

In 2020, from the initial pandemic shock in March through to the end of the year, AUD/INR rose 30 percent, welcome news for Indian expat workers, who represent one of the largest groups remitting money from Australia.

 
1 INR = 0.017391 AUD
  
AUDINR at 57.49 has risen 1.3% above its 90-day average, range 55.08-58.47.
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Note that forecasts and predictions for the AUD/INR exchange rate change all the time, affected by news events and relative sentiment towards the Australian and Indian and this exchange rate is even more volatile than usual because of the uncertainties around the Coronavirus pandemic.

 

 

Australian Dollar in the markets

The Australian Dollar held above US77c after the RBA’s May monetary policy announcement left interest rates unchanged as expected. AUD Markets

 

Indian Rupee in the markets

The Reserve Bank of India’s announcement of a huge government bond purchase programme in April has ended the Indian rupee’s resilience to U.S. dollar strength and other currencies such as GBP and AUD. INR Markets

 

What is a good AUD to INR exchange rate?

Whether the Australian dollar will rise or drop in the future versus the rupee is a difficult question and the answer really depends on many factors. The best way to consider an exchange rate's relative value is to look at the rate's history.

The following table looks at the change in the AUD to INR exchange rate to the present day for periods going back upto 10 years:

 
AUD/INRChangePeriod
57.1795
30 Apr 2021
0.5% ▲1 Week
56.6494
07 Apr 2021
1.5% ▲30 Days
55.8796
06 Feb 2021
2.9% ▲90 Days
49.2192
07 May 2020
16.8% ▲1 Year
49.1108
08 May 2016
17.1% ▲5 Years
48.3776
10 May 2011
18.8% ▲10 Years

AUD/INR 10 year historic rates & change to 07-May-2021 : 57.4902


   
Please note that the opinions of our authors are their own and do not reflect the opinion of Best Exchange Rates and should not be taken as a reference to buy or sell any financial product.