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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.

    Updated: Jan 23, 2022  

     

    1 USD = 75.03 INR
    Sell USD  →  Buy INR
    USD to INR at 74.90 is near average of its 90-day range 73.78-76.23.
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    1-DAY+0.5%
    30-DAYHIGH

    Indian rupee outlook

    Most Asian currencies weakened in 2021 (including the rupee) against the dollar on fears that surging energy prices could spur inflation and interest rate hikes.

    India imports most of its oil requirements and higher crude prices tend to push up domestic inflation.

    USD/INR wasChangePeriod
    73.80
    12 Jan 2022
    1.7% 2 Weeks
    74.80
    28 Oct 2021
    0.3% 90 Days
    72.92
    26 Jan 2021
    2.9% 1 Year
    68.11
    27 Jan 2017
    10.2% 5 Years
    49.36
    29 Jan 2012
    52% 10 Years
    48.53
    31 Jan 2002
    54.6% 20 Years
    USD/INR change over periods to 26-Jan-2022

     

    INR in the markets

    Before this pivot by the Fed Reserve the Reserve Bank of India’s announcement of a huge government bond purchase programme in April 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

    USD to INR 90-Day Currency Trend Chart with Hi, Low, Up, Down AlertsUSD to INR at 74.90 is near average of its 90-day range 73.78-76.23. USD/INR Rates

    In 2021, a pipeline of IPOs attracted inflows of portfolio capital which helped buoy the Indian rupee relative to some of its other Asian peers. When most currencies in the region have weakened to some extent versus a stronger dollar.

    However, the recent flop of the PayTM IPO and some others suggests that the rupee in 2022 won’t benefit so much from another inflow of funds.

     USD-INR Forecasts

    British Pound to Indian Rupee

    GBP to INR 90-Day Currency Trend Chart with Hi, Low, Up, Down AlertsGBP to INR at 100.8 is just above average of its 90-day range 99.27-103.2. GBP/INR Rates

    The Ukrainian crisis and its risks for European energy supplies have pushed the Pound down against the Rupee.

    At the end of the January the GBP/INR exchange rate was heading towards the 100 mark down from its highs around 104 in April last year.

     GBP-INR Forecasts

    Australian dollar to Indian Rupee

    AUD to INR 90-Day Currency Trend Chart with Hi, Low, Up, Down AlertsAUD to INR at 53.30 has fallen 1.4% below average of its 90-day range 52.67-56.42. AUD/INR Rates

    AUD/INR has risen 3 percent back to the 55 level since late September mainly due to AUD strength as Australia profits from energy prices hikes.

    In September the ‘risk off’ market mood has pushed the Australian dollar further down against the Rupee. After peaking in April near 58 the AUD/INR exchange rate changed direction and has headed down towards the 53-54 mark.

     AUD-INR Forecasts

    Canadian Dollar to Indian Rupee

    CAD to INR 90-Day Currency Trend Chart with Hi, Low, Up, Down AlertsCAD to INR at 59.15 is near average of its 90-day range 58.24-60.58. CAD/INR Rates

    The Ukrainian crisis and the risk-off market for European energy supplies have pushed the Canadian dollar down against the Rupee.

    At the end of the January the CAD/INR exchange rate was heading towards the 59 mark down from its highs around 61 in October last year.

     CAD-INR Forecasts

     

     
    Posted under: #Forecasts #INR

    Disclaimer: Please note any provider recommendations, currency forecasts or any opinions of our authors should not be taken as a reference to buy or sell any financial product.