A plunge in rupee value will, however, will be good news for NRIs, especially from the Gulf region, as they can get more bucks for each dollar remitted
Rupee forecasts
Latest in Rupee forecasts
currency crisis
Indian rupee slips to an all-time low against US dollar
The rupee is currently at 82.80 on Friday, but is expected to go well below 83
currency crisis
Rout in rupee continues, Indian currency plunging to record low of 82.70 against US dollar on Monday
Currency market experts predict further weakening of rupee in near-term basis due to anticipation of aggressive tightening by the US Federal Reserve and predictions of crude prices ending this week with major gains
expat remittances
Indian rupee falls to all time low on Thursday, plunging to 80.73 against US dollar
The fresh fall in rupee value has triggered expectations of another round of spike in remittances by expat Indians, especially from the Gulf region, to India
Anarock Group
Weak rupee, price discounts lure Gulf-based expat Indians to Indian property market in large numbers
Eagerness to own a house back home in the wake of the pandemic-induced uncertainties is also adding to the current demand spike from NRI buyers
foreign currency reserves
India sold $8bn of treasuries as central bank aided rupee
Despite the RBI’s presence, the rupee lost 3.3 percent against the dollar in those months as foreign funds exited high-yielding emerging markets for safer havens amid rising US interest rates
currency outlook
Indian rupee will strengthen before year-end, says Dubai’s biggest bank
Aditya Pugalia, Dubai-based director of financial markets at Emirates NBD, goes against a bleak broader outlook for the currency predicted by most