Analysis of recent Aussie → Rupee forecasts for 2024. We collate forecasts from respected FX analysts together with the latest Australian dollar to Indian rupee performance and trends.
Forecasts for AUD to INR
Recent forecasts for the AUD to INR exchange rate suggest contrasting trends for both currencies. The Australian Dollar (AUD) has been facing challenges related to mixed business confidence and changing global rate expectations, leading to a weaker performance in February. The uncertainty surrounding global rate cuts, falling commodity prices, and lackluster domestic economic data have put pressure on the Aussie dollar. Analysts emphasize that the AUD may continue to fluctuate between 0.64 and 0.66 until a clearer path regarding US rate cuts emerges.
On the other hand, the Indian Rupee (INR) is forecasted to continue its bullish trend against the USD, fluctuating within the 82-84 range. Factors such as elevated US Treasury yields, a weak yuan, and crude oil prices are expected to weigh on the rupee in the near term, but some moderation in these factors could provide support later on. The announcement of an OPEC+ cut to oil production in April 2023 had previously negatively impacted the rupee. Given the current landscape, the USD to INR exchange rate is expected to continue its upward trajectory, influenced by global economic conditions and market sentiment. FX analysts suggest closely monitoring developments in US economic data and global rates for insights into the future direction of the AUD to INR exchange rate.
@bestfxrates : AUD to INR outlook: Mixed AUD sentiment amid global rate uncertainties could limit movement between 0.64-0.66. INR's bullish trend may fluctuate within 82-84 vs USD. Market eyes on US data, global rates for direction. Stay updated on AUDINR shifts #Forex #AUDINR #CurrencyTrends
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INR
+0.0%
📉1W
AUD to INR is at 7-day lows near 54.39, just 1.0% below its 3-month average of 54.93, having traded in a relatively stable 6.3% range from 53.62 to 57.00
Compare & Save - Australian dollar to Indian rupee
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Date
AUD/INR
Change
Period
04 Mar 2024
53.95
0.9% ▲
2 Week
19 Dec 2023
56.15
3.1% ▼
3 Month
19 Mar 2023
55.41
1.8% ▼
1 Year
20 Mar 2019
49.10
10.8% ▲
5 Year
21 Mar 2014
55.45
1.9% ▼
10 Year
23 Mar 2004
33.84
60.8% ▲
20 Year
AUD/INR historic rates & change to 18-Mar-2024
Will the Australian dollar rise against the Indian rupee?
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Forecasts disclaimer: Please be advised that the forecasts and analysis of market data presented on BestExchangeRates.com are solely a review and compilation of forecasts from various market experts and economists. These forecasts are not meant to reflect the opinions or views of BestExchangeRates.com or its affiliates, nor should they be construed as a recommendation or advice to engage in any financial transactions. Read more