A poll of economists shows the Indian rupee is expected to see only modest strengthening in the near term before weakening again by year-end.
The Indian rupee is projected for a slight recovery in coming months.
Economists anticipate the rupee will rise just above 94 to the dollar. It is then expected to weaken to below 95 by year-end.
This outlook contrasts with earlier predictions of significant strengthening. Persistent dollar demand and global risks will likely limit gains.
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The rupiah closed weaker at Rp17,668 per US dollar on Monday, May 18, 2026. The government and Bank Indonesia have taken steps to maintain stability of the currency.
The Indian rupee continues to weaken against the US dollar. On Tuesday, it hovered around 95.36 in early trading. Since the beginning of this year, the currency has fallen by around 5.64 per cent.
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Continuing its sharp FY26 depreciation—after breaching 94 in late March—the Indian rupee fell to a fresh record low of 95.28 against the US dollar on Tuesday, May 5. Oil prices exceeding $110 a barrel have intensified inflation and balance-of-payments worries, prompting Reserve Bank of India interventions amid curbs on foreign exchange positions.
A majority of economists expect the Reserve Bank of India to keep its policy rate unchanged at the June meeting. Geopolitical tensions and adverse weather forecasts are cited as key factors behind the anticipated decision.
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Indian stocks and the rupee fell sharply on Wednesday after US President Donald Trump signaled the end of a truce with Iran. Fresh US strikes on Iran and rising oil prices triggered the selloff. Gold and silver prices also extended losses in Mumbai trading.