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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/EUR - 90 day trend
INR/EUR at 0.011769 was trading 1.6% below AVG:0.011958 with LO:0.011618 and HI:0.012272 (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:

INR/USD ratePeriod
29 Jun 2020 : 0.01321 Week
06 Jun 2020 : 0.013230 Days
07 Apr 2020 : 0.013290 Days
07 Jul 2019 : 0.01461 Year
08 Jul 2015 : 0.01585 Years
09 Jul 2010 : 0.021410 Years
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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