The US dollar is dominating the currency markets and giving local currencies a run for their money. Asian currencies are the hardest hit against the USD and have fallen to new lows in 2024. The Japanese yen is down to its 1990s low while the Chinese yuan has fallen to December 2023 lows. The Indian rupee has dipped around 1% against the US dollar in 2024.
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The rupee managed to hold on to its resistance level against the US dollar despite falling to 83.63 in June. It briefly rebounded in price touching 83.50 this month in July. However, leading trading platform Capex has predicted that the Indian rupee could face an onslaught from the US dollar after 2025.
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Currency: Here’s When $1 Will Be Worth 100 Rupees
Capex has forecasted that 1 US dollar could touch a new high of 90 rupees after 2025. The forecast indicates that the INR will remain in the same range between 90 to 95 up until 2029. That’s an increase of nearly 8% from today’s level.
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From 2030 onwards, the US dollar could strengthen further making the Indian rupee dip to a new all-time low. According to the prediction, the 1 US dollar will be worth 100 rupees after 2030. That’s an uptick and return on investment (ROI) of approximately 20% from its current price.
The Indian import and export sector will be the first hit if the rupee reaches 100 against the US dollar. Inflation will also increase in India leading to the cost of daily essentials skyrocket. The US dollar has been forging ahead for decades and the next few years will make it chart new territories.
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The dollar has been wreaking havoc against all local currencies including the rupee for decades. The US economy benefits tremendously when it imports its inflation to other countries.
