The Indian rupee touched 74.5 against the US dollar, the weakest level since August 25th, as rising coronavirus cases across the globe, fresh lockdowns in Europe and uncertainty surrounding the US November election spooked investor appetite for risk assets. In addition, weak prospects of economic recovery from the coronavirus crisis weighed on sentiment as India continues to be the second worst-hit nation, with more than 8 million confirmed infections and 121 thousand fatalities. The rupee fell 0.7% this week, its biggest decline since the week ended July 10th. For the month, it was down 0.5%, the biggest such move since May.
Historically, the Indian Rupee reached an all time high of 77.01 in April of 2020. Indian Rupee - data, forecasts, historical chart - was last updated on October of 2020.
The Indian Rupee is expected to trade at 74.68 by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 75.71 in 12 months time.