USD/INR continues to hold within a narrow 2.5% range, between 81-83, since the start of the year. Economists at Commerzbank analyze the pair’s outlook.
RBI is content to see a relatively stable USD/INR
INR’s stability is due to the strong growth backdrop, favourable macro indicators, including moderating inflation, lower oil prices, and net equity inflows.
RBI is content to see a relatively stable USD/INR.
We project USD/INR to hold around 82.00 by Q3 2023 and drift lower to 81.50 by end-2023 and 81.00 by end-2024.
Source: Commerzbank Research
Source: https://www.fxstreet.com/news/usd-inr-to-hold-around-8200-by-q3-and-drift-lower-to-8150-by-year-end-commerzbank-202307170621