Indian Rupee | INR to USD last = 69.539 1w: -0.6 (-0.9%)
Consensus (median)71707071
High estimate80827780
Low estimate63646361
Standard Deviation4456
Count of Estimates3324157

I don't bet on INR appreciation against USD, due to India's permanent dual deficits on the fiscal and current accounts which will make negative impact on the investors' appetite. Outflows from domestic markets will pose a threat to domestic macro factors and economic stability of the country. Also I think that bullish trend of the oil prices and continued global trade friction will add pressure on the Indian rupee's value.


Over the last 3 years we see a significant reduction in real GDP and capital investment growth, due to demonetization scheme and the goods and services tax. This reduction in capital infusion is a brake on India's long-term economic growth. In April-May 2019 attention will be focused on Indian general election. And it's logical to expect further pro-growth fiscal measures, taking into account weak credit growth and higher energy prices. But I think there wouldn't be any structural reforms and we will see weak INR/USD.