Discover today’s best exchange rates for USD to INR money transfers from the world’s top remittance providers listed below. Get the best exchange rates, lowest fees, and fastest turnaround times when transferring US dollar to rupee with the companies listed below.
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As the dollar rate today continues to strengthen against the Indian rupee, economists predict that the dollar to rupee is likely to reach a high of 84.87 INR/1 USD by the end of 2024. The USD to INR rate started off strong in 2024 with the rate hovering around the 83 mark until it dipped to the 82 mark in March 2024. Since then, the USD to INR rate has begun to climb, remaining steady around the 83 mark. This trend makes it an opportune time to send money overseas. With the current exchange rates, recipients will receive more rupees for every dollar sent, providing better value for your money.
The year 2023 had an uncertain start, leaving many questioning the trajectory of the Rupee's value despite the pandemic's lingering effects wearing off. On January 20th, 2023, the USD to INR exchange rate hit its lowest point for the year. However, as the year progressed, 2023 witnessed a gradual increase in the exchange rate compared to 2022. The USD/INR rate experienced a positive shift of +0.62% in 2023, indicating an uptick in the value of the US Dollar against the Indian Rupee. The year peaked on September 19, 2023, with an exchange rate of 83.442 INR, averaging at 1 US Dollar = 82.579 Indian Rupee for the year. This recovery seen in 2023 set up a positive tone for 2024.
Looking ahead to 2024, sentiment in the USD to INR market remains bullish. With a 14-day RSI reading of 53.64, forecasts suggest a positive trajectory for the exchange rate in the coming months. Projections indicate a potential 1.42% increase over the next six months, bringing the exchange rate to 84.64 INR. The US Dollar is anticipated to experience a 1.64% rise in the next year, with the USD to INR rate expected to reach around ??84.82. The current average rate of around ??83.17 bodes well for those planning to send money to India in 2024, offering favorable conditions for transfers.
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 82-84 range for the rest of 2024. 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. There are, of course, a few anomalies within the year where the INR to USD rate falls, making it the opportune time to transfer Indian Rupees to the US. Keep an eye out for those times by monitoring exchange rates.
One significant reason behind the USD to INR increase is the current account deficit, which reflects a country's reliance on foreign capital inflows. India's current account deficit is expected to rise due to increasing crude oil prices, expansionary fiscal policy, and low GDP growth. These factors contribute to the weakening of the Indian rupee against the US dollar.
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.
Due to the fact that the USD to INR currency pair is trading at all-time high rates, now is the best time to send money to loved ones in India. We compare the USD to INR live exchange rates, fees, and transfer times from top remittance providers above so that you can choose the best company that fits your individual needs. For more information on how to transfer INR to USD, check out our complete guide on sending money to India.
* Disclaimer : Exchange rates, transfer fees, comparison data and any other remittance information presented on this website is generic and high level, provided for your convenience and information purpose only. Exchange rates shown above either locked-in exchange rates or indicative exchange rates are variable i.e. they keep changing frequently throughout the day; a discrepancy in money transfer information like exchange rate is possible. Only the Terms and Conditions of the particular remittance service provider are binding. Please verify the exchange rates, service details and applicable service agreement of a particular service provider. By using the information on this site you agree to our Terms of Use.
