USD/INR Exchange rate


Sponsor broker

Asset rates

See all assets

Asset rates

See all assets

Editors’ Picks

AUD/USD: Bounces off one-week low on Powell-Mnuchin comments, eyes RBA

AUD/USD probes pullback from multi-month high ahead of the key data/events. Fed Chair Powell conveys economic worries, US Treasury Secretary Mnuchin pushes for stimulus. Risks dwindle amid economic fears, uncertainty over the US covid aid package.

AUD/USD News

Gold: Wobbles near five-month low below $1,800 as Powell, Mnuchin weigh on risks

Gold prices seesaw around $1,77/78 during the early Tuesday morning in Asia. The yellow metal dropped to the lowest since July the previous day before bouncing off $1,764.73. Economic fears, need for stimulus raise bars for the bull’s entry.

Gold news

EUR/USD retreats after its first attempt to break above 1.2000

EUR/USD trades around 1.1940 after failing to break above the psychological threshold. Bulls retain control and would likely challenge the level once again.

EUR/USD News

WTI holds $45 as OPEC+ postpones output cut decision to Thursday

WTI keeps recovery moves from $44.51 despite multiple failures to regain $46.00. The oil benchmark dropped to the one week low on the previous day amid the US dollar recovery.

Oil News

Black Friday 2020 Discounts!

Learn to trade with the best! Don't miss the most experienced traders and speakers in FXStreet Premium webinars. Also if you are a Premium member you can get real-time FXS Signals and receive daily market analysis with the best forex insights!

More info

Majors

Cryptocurrencies

Signatures


USD/INR

The USD/INR pair tells the trader how many Indian Rupees (the quote currency) are needed to purchase one U.S. dollar (the base currency). The Rupee is symbolized by ₹ and is the 20th most traded currency worldwide.


HISTORIC HIGHS AND LOWS FOR USD/INR

  • All-time records: Max: 69.528 on 28/08/2013 - Min: 1.30 in 1948
  • Last 5 years: 74.42 on 11/10/2018 - Min: 61.81 on 28/03/2015

* Data as of February 2020


USD/INR FORECAST 2020

Adding to persistent concerns about the slowing domestic economy, the risk of fiscal slippage might further prevent the currency from recouping this year's losses against the dollar in 2020. Indian rupee forecast will be determined by the resolution of the current tight trading range between 70.50 and 72.00.

About the Fed, and according to its updated quarterly economic projections, policymakers anticipate no rate change in 2020. Officials pencil in only one move in 2021, a rate-hike, and another in 2022. The Fed's favorable outlook has calmed concerns that the economy could falter and might result in a modest depreciation for the greenback in 2020.

Read Haresh Menghani full report


ASSETS THAT INFLUENCE USD/INR THE MOST

  • Currencies: USD, CNY and GBP.
  • Commodities: Gold, oil and silver (India is a major oil and commodity importer).
  • Bonds: T-NOTE 10Y (10 year United States Treasury note) and GIND10YR (India Government Bond Generic Bid Yield 10 Year).
  • Indices: S&P BSE SENSEX (S&P Bombay Stock Exchange Sensitive Index), NIFTY (National Stock Exchange of India's benchmark stock market index for Indian equity market) and NSE (National Stock Exchange of India Ltd).

ORGANIZATIONS, PEOPLE AND ECONOMIC DATA THAT INFLUENCE USD/INR

In India, the organizations and people that affect the most the moves of the USD/INR pair are:

  • Reserve Bank of India which controls the issue and supply of the Indian rupee. RBI is the regulator of entire Banking in India. It plays an important part in the Development Strategy of the Government of India, issues statements and decides on the interest rates of the country. Its Governor is Shaktikanta Das.
  • Government of India, often abbreviated as GoI, (whose President is Ram Nath Kovind) and its Ministry of Finance (whose minister is Nirmala Sitharaman) that implement policies that affect the economy of the country.

In the USA, we have:

  • Fed, the Federal Reserve of the United States of America whose president is Jerome Powell. The Fed controls the monetary policy, through active duties such as managing interest rates, setting the reserve requirement, and acting as a lender of last resort to the banking sector during times of bank insolvency or financial crisis.
  • The US Government (and its President Donald Trump): events as administration statements, new laws and regulations or fiscal policy can increase or decrease the value of the US Dollar and the currencies traded against it, in this case the Bank of India.

In terms of economic data, we should highlight the Trade Account Balance, a balance between exports and imports of total goods and services. A positive value shows a trade surplus, while a negative value shows a trade deficit. It is an event that generates some volatility for the USD/INR. If a steady demand in exchange for INR exports is seen, that would turn into a positive growth in the trade balance, and that should be positive for the INR.

Inflation is another economic value that is important for the USD/INR pair. It is measured among others by the CPI (Core Price Index) and the PPI (Production Price Index). They are key indicators to measure inflation and changes in purchasing trends.