The Indian Rupee has been stable since the start of the year. INR will continue to be supported by strong growth and hawkish RBI, economists at Commerzbank report.

RBI to hike rates

“We expect USD weakness, solid growth, and tight monetary policy to lead to a stable to slightly lower USD/INR by the end of the year.”

“USD/INR has held within a narrow range since the start of the year, between the 80.50-82.50 range. We project a slightly lower USD/INR by year-end to 81.50.”

Source: Commerzbank Research