MUFG stated that the USDINR currency pair is expected to remain stable in the short term, but they are optimistic about India’s macroeconomic conditions in the medium and long term.

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USDINR Chart by TradingView

Analysts at MUFG Bank forecast the USD/INR at 82.70 by the end of the third quarter and at 81.50 by the end of the first quarter of next year. They have a neutral view of the Indian Ruppe in the short term.

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