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Indian rupee INR forecasts for 2020

Forecasts for the Indian rupee change all the time, affected by news events and relative sentiment towards the Indian economy. This continually updated article reviews the latest forecasts from banks and FX experts as well as news and recent movements of INR in the currency markets.

There are several reasons to favour rupee weakness in the coming months, the first being strong seasonal patterns: the rupee typically falls in value every second-quarter (April-to-June) due to India’s heightened gold demand heading into Akshaya Tritiya.

INR in the markets

NAB told Bloomberg TV that it sees a recovery in Asian currencies in the 2nd half of the year if the coronavirus comes under control.

In 2019 the rupee did remarkably well despite a 35 percent rise in the oil price last year (oil is India's largest import).

In early May 2019, by the narrowest of margins, the rupee reached a 16-month high against the Australian dollar (₹48.4), before falling back slightly. It rose towards long-term highs against the euro (₹77.3) and was flat on the year against the US dollar (₹69.2), although it was 8 percent higher against the greenback than it had been in October of 2018.

INR/USD - 90 day trend
INR/USD at 0.013241 was trading 0.8% below AVG:0.013351 with LO:0.012995 and HI:0.014017 (90 days). There are no current rate alerts.

You can also read our full Foreign Exchange Guide to India.

What is a good INR dollar 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.

For example, the following table looks at the change in the INR to USD exchange rate to the present day for periods going back 10 years:

1 Week18 May 20200.0132
30 Days25 Apr 20200.0131
90 Days25 Feb 20200.0139
1 Year26 May 20190.0144
5 Years27 May 20150.0156
10 Years28 May 20100.0215
INR/USD 10 year historic rates
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.

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