AUD to INR at 54.73has fallen 2.7% below its 90-day average, range 54.63-57.95.
Australian dollar to Indian rupee bank forecasts
The Reserve Bank of India’s huge bond buying announcement in April 2021 devalued the Indian rupee back above 58 to the Australian dollar.
However, AUD/INR has since recovered to be trading around the 90-day average near 57 rupee to the Australian dollar.
Until the recent Fed Reserve pivot, the Australian dollar had benefited from the US dollar sell-off since late last year as investors moved away from the safe haven of the USD and into riskier assets. AUD Forecasts
The Federal Reserve’s message to the markets that it was preparing to reduce bond purchases sent most USD/Asian and Emerging Market Currencies higher. INR Forecasts
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.
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:
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