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
Based on recent analyst forecasts and market updates, the Australian dollar (AUD) is facing downside pressure due to changing global rate expectations and falling commodity prices. The AUD underperformed through February, dipping below US$0.6450 after stronger-than-expected US inflation data forced markets to rethink rate cut timetables. With the Reserve Bank of Australia (RBA) leaving rates unchanged and a softer local economic outlook, calls for rate cuts have increased. The AUD is expected to hover between US$0.64 and US$0.66 until there is more clarity on US rate adjustments.
On the other hand, for the Indian rupee (INR), analysts suggest the USD to INR exchange rate will likely fluctuate within the 82-84 range, continuing its bullish trend. Elevated US Treasury yields, a weak yuan, and crude oil prices are anticipated to weigh on the rupee in the short term, with some moderation expected in the future. India's status as a major oil importer leaves its currency sensitive to fluctuations in energy prices, which have the potential to drive inflation and trigger interest rate hikes, impacting the INR's value.
The current AUD to INR exchange rate at 54.45 is relatively stable, just 0.6% below its 3-month average of 54.77, trading within a 6.3% range. FX analysts are closely monitoring global economic data, central bank policies, and commodity price movements for cues on future AUD and INR performance. The market view suggests that the AUD's trajectory may be influenced by US rate developments, while the INR could face varying pressures from energy price fluctuations and global economic conditions.
@bestfxrates : AUD faces headwinds with potential RBA rate cuts & soft economy, forecasted to stay b/w US$0.64-$0.66. INR trends bullish but vulnerable to oil & USD rates, eyes on the 82-84 zone. AUDINR at 54.45, stable but cautious amid global shifts. Analysts watch for impact from US policy & commodities on the pair. #AUDINR #ForexUpdate #CurrencyWatch
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Date
AUD/INR
Change
Period
14 Mar 2024
54.58
0.5% ▼
2 Week
29 Dec 2023
56.71
4.2% ▼
3 Month
29 Mar 2023
54.96
1.2% ▼
1 Year
30 Mar 2019
49.29
10.2% ▲
5 Year
31 Mar 2014
55.56
2.2% ▼
10 Year
02 Apr 2004
33.31
63% ▲
20 Year
AUD/INR historic rates & change to 28-Mar-2024
Will the Australian dollar rise against the Indian rupee?
It is almost impossible to predict what an exchange rate will do in the future, the best approach is to monitor the currency markets and transact when an exchange rate moves in your favour.
To help with this you can add AUD/INR to your personalised Rate Tracker to track and benefit from currency movements.
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