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USD to INR Forecasts Split as Indian Rupee Extends Recovery
Nov 5, 11:30 AM·
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Summary

The Indian Rupee extended its recovery, with USD/INR falling 0.36% to 94.41 on Wednesday despite RBI support efforts. Forecasts for the pair remain split: MUFG projects renewed Rupee losses, while Crédit Agricole expects a stronger INR by September 2027, targeting levels between 97.50 and 92.

Indian Rupee Extends Recovery as USD/INR Slips to 94.41

The Indian Rupee extended its recovery on Wednesday, with the US Dollar to Indian Rupee exchange rate falling to 94.41, down 0.36% on the day.

The move came despite support efforts from the Reserve Bank of India, according to the source material.

Forecasts Diverge on USD/INR

FX strategists are split on the pair’s direction, with bank predictions ranging between 97.50 and 92 for USD/INR.

  • MUFG projects renewed Indian Rupee losses against the US Dollar despite RBI support.
  • Crédit Agricole forecasts a stronger INR by September 2027.

The two outlooks point in opposite directions: MUFG anticipates further Rupee weakness, while Crédit Agricole expects the Rupee to strengthen over the longer horizon.