Worst exchange rate of March 2022: 0.013, Best exchange rate of March 2022: 0.0132, Average exchange rate in March 2022: 0. Worst exchange rate of February 2022: 0.0132, Best exchange rate of February 2022: 0.0134, Average exchange rate in February 2022: 0.0133 Worst exchange rate of January 2022: 0.0133, Best exchange rate of January 2022: 0.0135, Average exchange rate in January 2022: 0.0134 Indian Rupee to US Dollar Monthly Exchange Rates Rupee Vs Dollar: USDINR spot price is expected to trade in a range of Rs 82 to Rs 83.30 The Indian rupee is expected to depreciate on Monday amid strong dollar and surge in crude oil prices. A relief on the rupee front can only be seen if the dollar index cools off," Trivedi said.Converting Indian Rupee (INR) to US Dollar (USD) in 2022 with the best, worst and average exchange rates of the year Table of 1 Indian Rupee to US Dollar Exchange Rate: "I look at the rupee continuing its downward journey as the dollar rise is a major risk to prices. Going forward, we might see the rupee spot weakening towards 77.8 levels," Joseph said. "Meanwhile, RBI's off cycle meeting on 4th May did little to strengthen the Rupee. "We expect the USDINR (Spot) to trade with a positive bias and quote in the range of 77.20 and 77.80," Somaiya said. Crude prices have also been rising for a month now, making the rupee even weaker." RUPEE TO DOLLAR Somaiya further said that this week, the focus will be on inflation data from India and the US.Īccording to Jateen Trivedi, Senior Research Analyst at LKP Securities, "Dollar staying above USD 104 indicates FII's aggressively exiting from emerging markets, the higher volatility index indicates no trend is sustainable and due to higher inflation, aggressive liquidity squeeze from central banks pressures rupee altogether. DOMESTIC INFLATIONĮlevated crude prices and rising domestic inflation, well above Reserve Bank of India's (RBI) upper band, might prompt further FII selling from domestic securities, Joseph elaborated. SHARP SELL OFFĮquity markets witnessed a sharp sell off as real rates in the US turned positive and investors turned risk averse evaluating the need for a higher rate hike to tame inflation going forward, Joseph said. Stronger dollar and sustained up move in global crude oil price is weighing on the overall market sentiment," said Gaurang Somaiya, Forex & Bullion Analyst, Motilal Oswal Financial Services, PTI reported. This means the US Dollar decreased in value compared to the Indian Rupee. The lowest USD/INR exchange rate in 2023 was 80.976 Indian Rupees per US Dollar on 20 January 2023. Last week's central bank policy action led to heightened volatility in most of the currencies. The highest USD/INR exchange rate in 2023 was 82.868 Indian Rupees per US Dollar on 14 February 2023. "Rupee fell to fresh all time lows on Monday as the dollar rose broadly against its major crosses. Joseph said Indian Rupee spot plunged to record lows, tracking weakness in Asian peers amid a stronger dollar index and surging treasury yields in the US. Royce Vargheese Joseph - Research Analyst - Currency and Energy, Anand Rathi Shares and Stock Brokers, cited the stronger position of the dollar, sharp sell off in equity markets and elevated crude prices and rising domestic inflation as reasons behind the decline of the Indian Rupee, according to a PTI report. In the last 10 years, the Indian Rupee is down -25.20 against the US Dollar. Is the Indian Rupee up or down against the US Dollar The Indian Rupee is up +0.01 year to date against the US Dollar. On Friday, the rupee had slumped 55 paise to close at 76.90.įorex traders and market trackers said risk appetite has weakened amid rising bond yields in the US and mounting concerns about inflation that may trigger more aggressive rate hikes by global central banks. The US Dollar is currently stronger than the Indian Rupee given that 1 USD is equal to 82.696 INR.
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