Analysis of recent Dollar → Rupee forecasts for 2024. We collate forecasts from respected FX analysts together with the latest US dollar to Indian rupee performance and trends.
Forecasts for USD to INR
Based on recent exchange rate analyst forecasts and currency market updates, the USD to INR exchange rate is expected to remain relatively stable within the range of 82-84. Analysts do not foresee any easing by the Reserve Bank of India until 2024, reflecting a continuation of the current bullish trend for the US dollar against the Indian rupee. Factors such as elevated US Treasury yields, a weaker Chinese yuan, and fluctuations in crude oil prices are anticipated to exert pressure on the Indian rupee in the short term.
On the US dollar side, the strength of the US economy, particularly highlighted by a robust job market performance, has shifted expectations and delayed potential rate cuts by the Federal Reserve. This positive economic outlook has led to the USD maintaining its momentum, supported by market expectations of a rate reduction in June. Considering these factors, while the Indian rupee may face near-term challenges, some moderation in external pressures could provide support for the currency later on. Overall, market analysts expect the USD to INR exchange rate to exhibit stability within the projected range in the coming months.
@bestfxrates : 📈 USD/INR stable in the 82-84 range amid solid US jobs market & delayed Fed cuts, say FX analysts. RBI's hold through '24 seen extending USD's bullish run. External factors pressure INR, but potential easing may offer future support. Market eyes on oil & yuan impacts. #Forex #USDINR 🌐
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Date
USD/INR
Change
Period
13 Mar 2024
82.83
0.7% ▲
2 Week
28 Dec 2023
82.89
0.6% ▲
3 Month
28 Mar 2023
82.16
1.5% ▲
1 Year
29 Mar 2019
69.44
20.1% ▲
5 Year
30 Mar 2014
59.86
39.3% ▲
10 Year
01 Apr 2004
43.38
92.2% ▲
20 Year
USD/INR historic rates & change to 27-Mar-2024
Will the US 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 USD/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