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    AUD to INR Forecasts 2021

    Since the beginning of the pandemic AUD/INR has increased over 23 percent and that's been great news for Indian expat workers in Australia.

    Updated: Oct 09, 2021  
     

    1 AUD = 55.92 INR
    Sell AUD  →  Buy INR
    AUD to INR at 55.92 has risen 2.9% above its 90-day average, range 52.98-55.92.
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    1-DAY+0.6%
    90-DAYHIGH

    AUD/INR dollar outlook

    AUD/INR has risen 3 percent back to the 55 level since late September mainly due to AUD strength as Australia profits from energy prices hikes.

    In September the ‘risk off’ market mood has pushed the Australian dollar further down against the Rupee. After peaking in April near 58 the AUD/INR exchange rate changed direction and has headed down towards the 53-54 mark.

    AUD/INR wasChangePeriod
    54.36
    04 Oct 2021
    2.6% 2 Weeks
    54.69
    20 Jul 2021
    2% 90 Days
    52.09
    18 Oct 2020
    7.1% 1 Year
    51.50
    19 Oct 2016
    8.3% 5 Years
    51.54
    21 Oct 2011
    8.2% 10 Years
    24.43
    23 Oct 2001
    128.4% 20 Years
    AUD/INR change over periods to 18-Oct-2021

     

    Australian dollar to Indian rupee bank forecasts

    This sees the Aussie to Rupee rate (at the end of September) AUD/INR well below it’s 90-day average below 55 rupee to the Australian dollar.

    The emergence of Evergrande and other significant roadblocks such as energy shortages in Europe and China impacting the global economic recovery throughout September prompted a shift in the underlying risk narrative, causing unfavourable conditions for commodity currencies like the AUD. AUD Outlook

    The Indian rupee has dropped to its lowest level against a range of currencies since April as the Reserve Bank of India kept its monetary policy unchanged.

    Most Asian currencies have weakened against the dollar on fears that surging energy prices could spur inflation and interest rate hikes.

    India imports most of its oil requirements and higher crude prices tend to push up domestic inflation.

    INR Outlook

    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.

    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.

     

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    Posted under: #Forecasts #AUD #INR

    Disclaimer: Please note any provider recommendations, currency forecasts or any opinions of our authors should not be taken as a reference to buy or sell any financial product.