USD to INR Forecast today 16th Aug 19
USDINR pair is moving perfectly in line with our forecast/prediction. Over the past few days, we have been forecasting that we see depreciation in the value of the rupee and we see the level of around 72-71.50 and yesterday we were almost at the target zone level.
Now, from current levels based on our current forecast, we do not see USDINR moving beyond 72 in the near term and a trading range of 70-72 (spot prices mentioned) is expected. So on the higher side selling the usdinr pair for lower targets will be a good strategy but it is of paramount importance to keep in mind that even though near term we are forecasting a trading range of 70-72 in the longer term we expect a steady depreciation in the value of the rupee and we will not be surprised to see usdinr pair at 76+ levels.
So our advice to importers is to either hedge their positions via appropriate instruments around 70.50 or lower levels. We do not see any merit in hedging positions immediately for importers. As far as exporters are concerned for near term payments it will be prudent to clear them immediately as we do not expect the rates of 71.50+ to sustain for a longer duration.
If you would like to have further details on our assisted services feel free to call me on 9222294707. We can guide you in order to get best rates possible and also assist you in advance planning of positions where by your forex risk will be near 0.
Bottom line Usd to Inr forecast for near term range of 72-70 is expected however longer-term 76+ levels are almost a certainty.
Good trading to you!