OFX USD to INR Exchange Rates

OFX at a glance

OFX has a 20-year history and is one of the largest foreign exchange specialists in the world. It offers a complete foreign exchange solution, including discounted money transfers, currency hedging tools, recurring transfers, a multi-currency account for online sellers and much more.

OFX grew from the idea that there had to be a better, fairer way to move money around the world. That was over 20 years ago, and since then over 1 million customers have trusted OFX with transfers in 50+ currencies to over 170 countries.

OFX don’t just offer great rates, they believe real help from real people counts. That’s why their clients get the best of both worlds – a seamless digital platform, combined with 24/7 phone access to currency experts.

When it comes to moving money, peace of mind is important. OFX is monitored by over 50 regulators globally and work within a network of carefully selected banking partners. So whether you are sending money to friends and family abroad, or doing business across borders, OFX can get your money where it needs to go. Fast, simple, secure.

*Minimum transfer amount apply. Please note that the receiving bank or intermediary bank may charge fees on transactions.

@bestfxrates : USDINR Update: FX analysts forecast a consistent dollar uptrend against INR, within 82-84. Resilience amidst global concerns bolsters USD, but a modest retreat is expected in 2023. The rupee struggles with oil prices & rate hike speculations. Recent 90-day peak at 83.42 keeps market watchful. #USDtoINR #Forex #CurrencyTrends

USD to INR Market Data

US dollar (USD) to Indian rupee (INR) market data - latest interbank mid-rate, trend, chart & historic rates.

1 USD = INR

USD to INR is at 90-day highs near 83.43, just above its 3-month average, having traded in a stable 1.0% range from 82.62 to 83.43

05-DEC 3AM-NY 8AM-LON 4PM-HK 7PM-SYD

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1 INR = 0.011992 USD

90-DAY HIGH▲

Date	USD/INR	Change	Period
20 Nov 2023	83.32	0.2% ▲	2 Week
05 Sep 2023	83.09	0.4% ▲	3 Month
04 Dec 2022	81.43	2.5% ▲	1 Year
05 Dec 2018	70.65	18.1% ▲	5 Year
06 Dec 2013	61.34	36% ▲	10 Year
09 Dec 2003	45.51	83.4% ▲	20 Year

USD/INR historic rates & change to 04-Dec-2023

Forecasts for USD to INR

90-DAY HIGH▲

04 DecThe recent forecasts for the USD to INR exchange rate suggest that the dollar's current strength against most currencies, underpinned by a solid US economy and attractive Treasury yields, is likely to persist through the end of the year. According to a Reuters poll of forex strategists, the dollar could face occasional weaknesses; however, its resilience, particularly amidst global growth concerns and issues pertaining to China, should maintain its upward trajectory. Despite this, there is an anticipation of a modest weakening against major currencies into the next year as the Federal Reserve is expected to approach its first interest rate cut.

Read our full USD to INR forecasts analysis

How to get a good USD to INR exchange rate

There are several ways to save on exchange rates when converting US dollar to Indian rupee:

Shop around for the best USD/INR exchange rate: Exchange rates can vary significantly between different currency exchange providers, so it's important to compare rates from different sources before making a conversion.
Timing is important: Keep an eye on the USD/INR rate on currency markets, as exchange rates can fluctuate frequently. Try to make your transactions when the exchange rate is in your favor. You can do this easily with our BER Smart Rate Tracker.
Use a credit/debit or travel card that doesn't charge foreign transaction fees: Some credit cards charge additional fees for transactions made in a foreign currency, so it's important to check with your card issuer to see if they charge these fees and what their exchange rate is.
Use a multi-currency account: Having a multi-currency account allows you to hold and transfer money in both USD and INR at close to the interbank rate. It also allows you to make payments or withdrawals in the local currency while avoiding high conversion fees.
Buy currency in advance: If you know that you will need foreign currency in the future, consider buying it in advance when the exchange rate is favorable.

The key is reducing excessive costs and fees

Generally speaking, if you are buying Indian rupee with US dollar, then it's better for the USD/INR exchange rate to be higher.

However working against you are the fees all foreign exchange providers charge for providing their service. These fees is usually contained within the exchange rate margin (or difference to the mid-rate).

The transaction margin you end up being charged can be considerably reduced by around a few percent (of total amount being exchanged) for travel money and possibly over 5% to 6% when sending money. The exact potential savings depends on the currencies being exchanged and the amount you are transferring and if you are willing to shop around.

Our real-time foreign transfer and travel money/cards comparison calculators make shopping around easy and help you calculate how much you can save.

It's worth noting that while these tips can help you save on exchange rates, it's important to be aware that no single method is guaranteed to provide the best exchange rate in every situation, and it may require some research and comparison-shopping to find the best option for your specific needs.

Will the US dollar rise against the Indian rupee?

It is almost impossible to predict what an exchange rate will do in the future, the best approach is to monitor the currency markets and transact when an exchange rate moves in your favour.

To help with this you can add USD/INR to your personalised BER Smart Rate Tracker to track and benefit from currency movements.

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Rather than requiring you to set a target rate, our FX Alerts work differently. Once you add a currency pair for tracking in your watchlist we can select to be notified daily for any UP▲ DOWN▼ HIGH▲ LOW▼ alerts over a range of periods over the recent 90 days.

Read our Currency guide to India - a practical currency and money guide to travel, living and doing business in India with the Indian rupee.

Country Currency Guides

United States (USD)

India (INR)

How is the cost of living in India?

The cost of living in India is relatively low compared to developed countries. Basic goods and services cost less than 50% of what they cost in developed nations.

How is the expat life in India?

The expat life in India can be very exciting and enriching. There are many things to see and do, and the people are generally very friendly and welcoming. India can be a challenging place to live at times, but it is also very rewarding.

Read more at our India (INR) country guide

Related exchange rates

Forecasts disclaimer: Please be advised that the forecasts and analysis of market data presented on BestExchangeRates.com are solely a review and compilation of forecasts from various market experts and economists. These forecasts are not meant to reflect the opinions or views of BestExchangeRates.com or its affiliates, nor should they be construed as a recommendation or advice to engage in any financial transactions. Read more

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