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Indian rupee INR forecasts 2021

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.

What’s in this Indian rupee forecast summary?

  1. Market News
  2. USD to INR
  3. GBP to INR
  4. AUD to INR
  5. CAD to INR

INR in the markets

The Reserve Bank of India’s announcement of a huge government bond purchase programme in April has ended the Indian rupee’s resilience to U.S. dollar strength and other currencies such as GBP and AUD.

The Indian rupee was Asia’s worse performing currency in 2020, but compared to previous crises performed relatively well.

Migrant workers from Asia’s developing countries, such as India, have been sending home record amounts of money in recent months, defying pandemic expectations and propping up home economies at a critical time.

However, it appears workers are just sending money home in advance of their own return due to a bleak job market, particularly in the Middle East.

INR did gain 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.

The Indian rupee exhibits 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 – the annual spring time festival of the Hindus and Jains.

Accordingly many currency forecasts point out that rupee strength is to be expected in the second half of a typical year.

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

What is a good Indian Rupee exchange rate?

Whether the rupee will rise or drop in the future is a difficult question and the answer really depends on many factors. The best way to consider an exchange rate’s current relative value is to look at the Indian Rupee’s history against a range of currencies and in particular against the currency you are interested in exchanging it with.

For example, the sections below look at the change in the INR exchange rate to the present day for periods back 10 years for popular INR exchange rates.

US Dollar to Indian Rupee

 

USDINR at 75.10 has risen 2.6% above its 90-day average, range 72.29-75.18.
1D+0.8%
|
Alert:1D+0.8% |

The RBI’s QE announcement ended the Indian rupee’s good run versus the U.S. dollar sending it back below 74 to the greenback. USD-INR Forecasts


USD/INRChangePeriod
74.9913
12 Apr 2021
0.2% ▼1 Week
72.4421
20 Mar 2021
3.4% ▲30 Days
73.1922
19 Jan 2021
2.3% ▲90 Days
76.5700
19 Apr 2020
2.2% ▼1 Year
66.2147
20 Apr 2016
13.1% ▲5 Years
44.3683
22 Apr 2011
68.8% ▲10 Years

USD/INR 10 year historic rates & change to 19-Apr-2021 : 74.8758


British Pound to Indian Rupee

 

GBPINR at 104.9 has risen 3.7% above its 90-day average, range 99.45-104.9.
4D+1.8% 90DHIGH
|
Alerts:4D+1.8% | 90DHIGH |

The Reserve Bank of India’s announcement sunk the Indian rupee back below 102 to the pound sterling. GBP-INR Forecasts


GBP/INRChangePeriod
103.15
12 Apr 2021
1.5% ▲1 Week
100.48
20 Mar 2021
4.2% ▲30 Days
99.8651
19 Jan 2021
4.9% ▲90 Days
95.5976
19 Apr 2020
9.5% ▲1 Year
94.9198
20 Apr 2016
10.3% ▲5 Years
73.3060
22 Apr 2011
42.9% ▲10 Years

GBP/INR 10 year historic rates & change to 19-Apr-2021 : 104.72


Australian dollar to Indian Rupee

 

AUDINR at 58.41 has risen 3.5% above its 90-day average, range 55.08-58.41.
7D+2.2% 90DHIGH
|
Alerts:7D+2.2% | 90DHIGH |

The Reserve Bank of India’s huge bond buying announcement in April sunk the Indian rupee back below 57 to the Australian dollar. AUD-INR Forecasts


AUD/INRChangePeriod
57.1966
12 Apr 2021
1.6% ▲1 Week
56.0557
20 Mar 2021
3.6% ▲30 Days
56.4604
19 Jan 2021
2.9% ▲90 Days
48.5109
19 Apr 2020
19.7% ▲1 Year
51.6171
20 Apr 2016
12.5% ▲5 Years
47.6578
22 Apr 2011
21.9% ▲10 Years

AUD/INR 10 year historic rates & change to 19-Apr-2021 : 58.0835


Canadian Dollar to Indian Rupee

 

CADINR at 59.95 has risen 3.4% above its 90-day average, range 56.85-59.98.
1D+0.6%
|
Alert:1D+0.6% |

The Reserve Bank of India’s announcement in April sunk the Indian rupee back below 60 to the CAD dollar. CAD-INR Forecasts


CAD/INRChangePeriod
59.6919
12 Apr 2021
0.1% ▲1 Week
57.8376
20 Mar 2021
3.3% ▲30 Days
57.5332
19 Jan 2021
3.8% ▲90 Days
54.4892
19 Apr 2020
9.6% ▲1 Year
52.2652
20 Apr 2016
14.3% ▲5 Years
46.5721
22 Apr 2011
28.3% ▲10 Years

CAD/INR 10 year historic rates & change to 19-Apr-2021 : 59.7474

   
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.