Buying or Selling US Dollar? Read our USD to INR Forecast 2018
USD INR Forecast is not looking good for those Indians who want to buy Dollars in the next few months. However, for those who want to sell US Dollars, things are looking good, as according to USD INR Forecast predicted by a report.
The report by BMI Research says that “The rupee will weaken further towards the end of the year and will even touch ₹66 per US$. The rupee was performing well over the past year or so. But due to factors like the real interest rates in US and oil prices, there will be a further decline". The report further added, “We forecast the INR to average Rs 66.33/USD in 2018. And it will depreciate by 1 percent per year in spot terms over the long term as higher inflation rates necessitate a gradually weaker currency in order to maintain external competitiveness".
USD INR Forecast
If there is one thing you learn from a trip to the United States, it is the importance of US Dollars. It is the world’s most traded currency. Of all the currency exchanges that happen in a day, US$ is part of 80% of these transactions. Because it is traded so highly, any political or economic meltdown, big or small, impacts the rate of exchange of the US$. This results in a lot of fluctuations in US Dollar.
Exchanging US$ is not a cumbersome process in India. It used to be but with the advent of online marketplaces like BookMyForex, the process is very convenient. However a lot of travelers still prefer converting their currency at Airports, and given the number of limited options, this doesn’t seem like a bad option. There’s more than meets the eye about these kinds of exchanges. Airports charge an additional 6-10% of the converted sum. So, if you want to convert around 1 lakh rupees into Dollars, you may have to shell out extra ₹ 6,000 to 10,000. This is where it becomes important to go to the right place at the right time to get the right deal.
Buy dollars in India via BookMyForex.com and save the much necessary time and effort.
USD INR forecasts-Monthwise
| Month | Maximum | Minimum |
|---|---|---|
| October 2017 | ₹67.31 | ₹65.01 |
| November’17 | ₹68.39 | ₹66.32 |
| December’17 | ₹69.76 | ₹67.58 |
| January 2018 | ₹69.46 | ₹67.40 |
| February’18 | ₹68.99 | ₹66.95 |
| March’18 | ₹69.11 | ₹67.07 |
Expected USD-to-INR Forecast in 2018
| Month | Open | Close | |||
|---|---|---|---|---|---|
| 2018 | |||||
| May | 66.45 | 68.83 | |||
| Jun | 68.83 | 69.66 | |||
| Jul | 69.66 | 71.09 | |||
| Aug | 71.09 | 70.99 | |||
| Sep | 70.99 | 72.84 | |||
| Oct | 72.84 | 72.51 | |||
| Nov | 72.51 | 71.78 | |||
| Dec | 71.78 | 71.49 | |||
Source : dollarrupee.in
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