For over a decade BestExchangeRates.com has been a trusted voice in foreign exchange in the United States and globally.
BestExchangeRates compares exchange rates from popular banks and currency specialists to help you avoid hidden and excessive margins and fees when you send and spend abroad.
We help our users save money by making these fees and exchange rates transparent and easier to compare. With our foreign transfer and currency exchange tools, you can quickly find the cheapest and most convenient way to convert your money.
More than 3 million satisfied visitors have saved over $200M on foreign exchange.
We partner with only the largest, safest and most trusted foreign exchange brands.
Track INR rates – transact when market in your favour. Follow FX forecasts & analysis.
Any marketing fees we receive from partners do not affect your exchange rate savings.
BestExchangeRates.com keeps you up-to-date on Indian rupee forecasts by collating the views of reliable FX forecasters and economists together with recent 90-day INR price data. This analysis covers a wide range of factors including economic indicators, geopolitical events, central bank policies, and technical analysis to provide a thorough and current outlook on currency trends.
The Indian rupee (INR) has been under pressure against the US dollar, in line with most currencies, as concerns over surging energy prices and the potential impact on inflation and interest rates persist. Analysts do not foresee the Reserve Bank of India (RBI) easing its monetary policy until 2024, contributing to a forecasted exchange rate range of 82-84 USD to INR. Despite facing headwinds such as elevated US Treasury yields, a weakened yuan, and higher crude oil prices, there is anticipation for a potential turnaround supported by some moderation in these factors in the future.
Recent price data reflects the INR's performance against key currency pairs. The INR to USD pair is currently trading near 30-day highs at approximately 0.012066, slightly above its 3-month average, exhibiting stability within a 0.7% range. Conversely, the INR to EUR pair sits at 14-day lows around 0.011162, marginally higher than its 3-month average, demonstrating stability within a narrow 3.9% range. Similarly, the INR to GBP pair is at 7-day lows near 0.009557, slightly above its 3-month average, showing consistency within a 2.4% range. Lastly, the INR to JPY pair stands at 1.8096, marking a 2.8% increase from its 3-month average, with trading activity contained within a relatively stable 7.2% range. The evolving dynamics in global markets and economic factors will continue to shape the trajectory of the Indian rupee in the coming months.
Sending money abroad can be an expensive business, more so if you aren’t even aware of all the hidden fees. Money transfer companies and banks profit by charging you fees and a normally hidden margin on the exchange rate.
Using your Bank to make international wire transfers can be very expensive – often 5% to 6% worse than using a foreign exchange specialist to send money abroad or pay a foreign invoice.
Looking for a way to make your next trip more affordable? Check out our Country Guides to the best deals for your international foreign transfers and travel money. These articles will give you travel tips and offer advice for your next trip abroad.
|Compare and Save on Foreign Exchange