Barclays: By the end of 2026, the Indian Rupee may reach 94 against the US Dollar.

Barclays research department said that there is further upside potential for the US dollar against the Indian rupee, with the bank expecting the exchange rate to reach 94.0 rupees by the end of next year. The bank stated in a report that the exchange rate has continued to rise after breaking through the Reserve Bank of India's defense line near 88.80 rupees. Barclays said that the likelihood of the US dollar weakening against the Indian rupee seems limited, as any decline could be seen as a buying opportunity for importers. Barclays also added that RBI Governor Shaktikanta Das does not seem particularly concerned about the rupee's decline, noting that given the inflation differential between India and advanced economies, a rupee depreciation is to be expected. According to data from the London Stock Exchange Group, the US dollar is trading at 90.05 rupees against the Indian rupee.