Indian rupee INR Forecasts
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.
BER ResearchIndian rupee outlook
The Indian rupee has weakened (like most Asian currencies) against the US 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.
| Date | USD/INR | Change | Period |
|---|---|---|---|
20 Jun 2022 | 77.93 | 1.3% ▲ | 2 Week |
05 Apr 2022 | 75.45 | 4.6% ▲ | 3 Month |
04 Jul 2021 | 74.48 | 6% ▲ | 1 Year |
05 Jul 2017 | 64.80 | 21.8% ▲ | 5 Year |
06 Jul 2012 | 55.49 | 42.3% ▲ | 10 Year |
09 Jul 2002 | 48.77 | 61.9% ▲ | 20 Year |
Factors that affect the Indian rupee exchange rate
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.
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 at 79.07 is 2.2% above its 90-day average 77.37 with range 75.43-79.08. USD/INR Rates
From the end of the April and into May the USD/INR exchange rate has risen above the 77₹ level, well up from around 72₹ mid last year.
The Ukrainian crisis and its risks for energy supplies have pushed the dollar up against the rupee as India imports most of its oil requirements.
British Pound to Indian Rupee
GBP to INR at 95.86 is 1.0% below its 90-day average 96.82 with range 93.53-99.84. GBP/INR Rates
The Ukrainian crisis and its risks for European energy supplies have pushed the Pound down against the Rupee.
GBP/INR started dropping in February and by mid-year the pound to rupee exchange rate has settled around the 95 mark, well down from its highs around 104 in April last year.
Australian dollar to Indian Rupee
AUD to INR at 54.31 is 1.3% below its 90-day average 55.01 with range 53.08-57.16. AUD/INR Rates
In May, the Aussie dollar has weakened against the Indian Rupee, dropping below 54₹.
Earlier in 2022 AUD had been strengthening against the Indian Rupee, passing the 57₹ threshold, in March as the tragic situation in Ukraine worsened.
Canadian Dollar to Indian Rupee
CAD to INR at 61.56 is 1.7% above its 90-day average 60.52 with range 59.32-61.98. 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.
Rate Forecasts
Australian Dollar
British Pound
Canadian Dollar
Euro
Hong Kong Dollar
Indian Rupee
Japanese Yen
Malaysian Ringgit
New Zealand Dollar
Philippine Peso
Singapore Dollar
Swiss Franc
Thai Baht
US DollarDisclaimer: 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.