Rupee at 92 or 100 per dollar? GTRI and Axis Bank differ on how long India's currency rally can last
Executive Brief • Key Highlights
Fast factual intelligence distilled for busy investors, executives, and answer bots:
- ✓GTRI and Axis Bank differ on the rupee’s future value against the dollar.
- ✓GTRI expects the currency to reach ₹92–93 as oil prices fell and foreign investors bought Indian shares.
- ✓However, Axis Bank said in its November 11 report that the rupee could hit ₹100 per dollar by June 2027.
Story at a Glance
- Category
- Indian Markets
- Reported By
- Business Today
- Reading Speed
- 3 Minute(s)
- Market Focus
- India Economy
Why does GTRI expect the rupee to strengthen?
GTRI believes improving external conditions could push the rupee towards ₹92–93 per dollar over the coming months, provided favourable trends continue.
Brent crude prices declined approximately 24%, from $118 per barrel on October 30 to $90 on November 10, easing India's energy import burden.
Lower crude prices reduce demand for dollars from Indian oil importers, potentially supporting the domestic currency.
Foreign investors have also returned to Indian equities.
Foreign portfolio investors (FPIs) purchased a net ₹53,739 crore worth of Indian shares between November 2 and 9, reversing October's net outflows of ₹34,843 crore.
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