A Reuters poll of FX strategists forecasts the Indian rupee to strengthen modestly against the U.S. dollar, reaching ₹88.25 by end-January and ₹88.08 by end-April 2026. The outlook reflects expectations of RBI intervention, easing global pressures, and resilient domestic fundamentals.
According to a recent Reuters poll, the Indian rupee is expected to recover slightly from its recent lows, with projections placing it at ₹88.25 per U.S. dollar by January 2026 and ₹88.08 by April 2026. This comes after the rupee breached the 88-mark in September amid foreign equity outflows and U.S. tariff pressures.
Strategists believe the Reserve Bank of India (RBI) will continue to intervene to cushion volatility, while domestic macro indicators—such as stable inflation, robust forex reserves, and strong services exports—will support the currency’s resilience.
However, risks remain. If U.S. tariffs escalate or global trade tensions worsen, the rupee could face renewed pressure, potentially sliding toward ₹90/$ by mid-2026.
Major Takeaways:
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Forecasted Levels: ₹88.25/$ by January; ₹88.08/$ by April 2026
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Current Context: Rupee breached 88/$ in September amid FII outflows
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Support Factors: RBI intervention, stable inflation, strong exports
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Risks Ahead: U.S. trade policy, global economic uncertainty
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Strategist Sentiment: Mild recovery expected, not a dramatic rebound
The rupee’s path remains data-dependent, but near-term stability is likely as India navigates global headwinds with cautious optimism.
Sources: Reuters via Economic Times CFO, CAPEX.com Forecast