Exchange Rate in India
The Indian rupee depreciated continually against the U.S. dollar over the last decade. This trend was influenced by India's large trade deficits, global geopolitical uncertainty, and persistently higher inflation than in the U.S. The Reserve Bank of India intervened on occasion to stem the swings in the currency.
The exchange rate ended 2024 at INR 85.47, compared to the end-2023 value of INR 83.38 and the figure a decade earlier of INR 62.47. It averaged INR 73.03 over the last decade. For more exchange rate information, visit our dedicated page.
India Exchange Rate Chart
Note: This chart displays Exchange Rate (vs USD) for India from 2024 to 2019.
Source: Macrobond.
India Exchange Rate Data
| 2019 | 2020 | 2021 | 2022 | 2023 | |
|---|---|---|---|---|---|
| Exchange Rate (INR per USD, eop) | 75.35 | 73.16 | 75.86 | 82.14 | 83.38 |
| Exchange Rate (INR per USD, aop) | 70.91 | 74.24 | 74.51 | 80.34 | 82.79 |
How should you choose a forecaster if some are too optimistic while others are too pessimistic? FocusEconomics collects Indian exchange rate projections for the next ten years from a panel of 22 analysts at the leading national, regional and global forecast institutions. These projections are then validated by our in-house team of economists and data analysts and averaged to provide one Consensus Forecast you can rely on for each indicator. By averaging all forecasts, upside and downside forecasting errors tend to cancel each other out, leading to the most reliable exchange rate forecast available for Indian exchange rate.
Download one of our sample reports to visualize what a Consensus Forecast is and see our Indian exchange rate projections.
Want to get access to the full dataset of Indian exchange rate forecasts? Send an email to info@focus-economics.com.