Get real-time exchange rates on USD to INR money transfers. Transfer US dollars to Indian rupees from the worlds leading money transfer companies.
As the dollar rate today continues to become stronger against the Indian rupee, many economists believe that the dollar to rupee is likely to reach 79.5 INR/1 USD in 2022. The USD to rupee continues to rise, making now a great time to send money overseas. Your recipient will receive more rupees for your dollars. This gives you much better value for your dollars!
The reason the dollar price in India is continuing to rise against the rupee is due to a number of factors, including inflation and rising crude oil prices. According to experts, it is believed that the 1 dollar in rupees today will continue to stay within the 77-80 range. It does seem that the INR to USD is often reaching new lows as time goes on. A rebound is not in sight at the moment.
One large reason behind the USD to INR increase is the current account deficit, which is a net amount of a nation’s imports minus their exports. This is an important metric for determining a country’s overall economic health. If there is a large trade deficit, this can signal great reliance on foreign capital inflows which can weaken the Indian rupee. India's current account deficit is expected to rise due to increasing crude oil prices, expansionary fiscal policy, and low GDP growth.
When you need to send money to India online, you will want to look at the dollar to rupee exchange rate to see if it is high or low for that day. Exchange rates will fluctuate by the minute depending on the forex (foreign exchange) market. Since the INR to USD exchange rate is hitting all time lows, now is the best time to transfer money overseas to India.
Using our online comparison service allows you to look at more than just exchange rates for different companies. While one company may offer the lowest mid-market exchange rate, they may charge fees that others don’t, or the transfer may take longer than others. We show you the best companies offering competitive dollar to rupee exchange rates, quick transfer fees, and fast turnaround times.
The US dollar rate in India today is constantly changing, so it is important to compare your options when it comes to sending money overseas. You’ll want to look at the current USD to INR today, along with transfer fees, speed, and more. You can compare companies offering USD to INR online remittance using our compare page. While the USD to INR is high, we recommend taking advantage of the exchange rate to get the most value for your dollars.
The Indian rupee has continued to fall against the US dollar, despite intervention from the RBI (Reserve Bank of India). As with most currencies globally, action from the RBI can have a strong influence on the strength of the Indian rupee. Hiking interest rates can help lift the INR. The RBI raises or cuts interest rates according to inflation and the overall state of the Indian economy.
In this year alone, the Indian rupee has performed poorer than most other Asian currencies with its steady decline against the USD. The US Federal Reserve is expected to continue to hike interest rates into 2023 to battle the current high inflation within the US, which could further strengthen the US dollar against the Indian rupee. At the start of 2022, USD to INR traded at 74.50, and eventually rose to 83.50 in late October, which marked a record high.
The USD to INR Forecast for 2023 expects that the US dollar will continue to rise against the Indian rupee, with some analysts predicting that USD to INR could trade at around 85 or 86 by the end of 2023.
Download Our Free App
Try our faster, enhanced mobile app for a better experience