India’s rupee depreciated to 73.8 against the US dollar in late September, after touching 72.85 in August, which was its strongest level since mid-June. Investors turned to the greenback after the Fed signalled tapering could soon begin and conclude in the middle of next year. Meanwhile, both OECD and ASEAN Development Bank lowered India's growth forecasts for this year.
Historically, the Indian Rupee reached an all time high of 77.01 in April of 2020. Indian Rupee - data, forecasts, historical chart - was last updated on September of 2021.
The Indian Rupee is expected to trade at 73.93 by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 74.80 in 12 months time.