Credit Agricole Sees US Dollar Retreat to 92 vs Indian Rupee by September 2027

The US Dollar to Indian Rupee exchange rate (USD/INR) has already reached Crédit Agricole's year-end forecast of 96, but the bank expects a retreat to 92 by September 2027. This is according to the bank's latest forecast, which also predicts a slight increase in the repo rate due to RBI tightening.

Crédit Agricole forecasts that the exchange rate will reach 94 in both March and June 2027, followed by 92 in September and December of that year. This would represent a roughly 4.2% decline from Friday's close near 95.99. The bank attributes this forecast to RBI tightening, with the repo rate expected to rise to 5.50% in December and 5.75% in March.

The current exchange rate is already close to Crédit Agricole's year-end target of 96, having risen by 0.42% over the past week. This leaves little room for further growth before reaching the predicted levels in 2027.