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AUD to INR Forecasts

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

Australian dollar to Indian rupee bank 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.

Since the initial pandemic shock in March AUD/INR has risen over 23 percent (late November), welcome news for Indian expat workers, who represent one of the largest groups remitting money from Australia.

 

AUDINR Trend & Alerts

AUDINR at 54.71 is 2.8% above its 90-DAY average, range 51.78-54.96.
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Australian Dollar to Indian Rupee
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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.

The AUD might break through recent resistance around 0.7340 over the next weeks. A clearcut Biden win and further positive COVID-19 vaccine news could help drive the AUD towards new highs closer to 0.74 US cents. 

You can read more about AUD cross-rate forecasts here AUD Trends and Forecasts for 2020.

What is a good AUD to INR exchange rate?

This 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
54.3176
26 Nov 2020
1.2% ▲1 Week
53.7194
03 Nov 2020
2.3% ▲30 Days
53.3584
04 Sep 2020
3% ▲90 Days
48.9653
04 Dec 2019
12.2% ▲1 Year
48.9475
05 Dec 2015
12.3% ▲5 Years
44.3925
06 Dec 2010
23.8% ▲10 Years

AUD/INR 10 year historic rates & change to 03-Dec-2020 : 54.9444


Australian Dollar in the markets

The bleak outlook in the US has added downward pressure on the world’s base currency and helped consolidate the Aussie dollars’ upturn.

Get more details in the article Australian Dollar Forecasts.

Indian Rupee in the markets

INR gained more than 2% in 3Q, despite having an economy ravaged by 6.6 million coronavirus infections. The support for the Indian rupee comes from a rare current account surplus, and billions of dollars in inflows.

Get more details in the article Indian Rupee Forecasts.

 
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.