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FX Forecasts

 

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FX Majors 28-Jul-22 Sep-22 Dec-22 Mar-22 Jun-23 Sep-23 Dec-23 Mar-24
EUR / USD 1.0191 1.05 1.07 1.08 1.10 1.10 1.12 1.14
USD / JPY 135.32 135.00 130.00 128.00 125.00 125.00 122.00 120.00
USD / CHF 0.9583 1.00 1.00 0.98 0.98 0.97 0.96 0.96
GBP / USD 1.2158 1.20 1.20 1.22 1.23 1.24 1.25 1.25
AUD / USD 0.6955 0.72 0.74 0.75 0.77 0.77 0.79 0.80
NZD / USD 0.6287 0.65 0.68 0.70 0.70 0.72 0.74 0.75
USD / CAD 1.2807 1.26 1.25 1.22 1.20 1.18 1.18 1.16
EUR / GBP 0.8382 0.88 0.89 0.89 0.89 0.89 0.90 0.91
EUR / JPY 137.90 141.75 139.10 138.24 136.25 137.50 136.64 136.80
EUR / CHF 0.9766 1.05 1.07 1.06 1.07 1.07 1.08 1.09

Source: Bloomberg, Emirates NBD Research.

FX EM 28-Jul-22 Sep-22 Dec-22 Mar-22 Jun-23 Sep-23 Dec-23 Mar-24
USD / SAR 3.7562 3.75 3.75 3.75 3.75 3.75 3.75 3.75
USD / AED 3.6730 3.67 3.67 3.67 3.67 3.67 3.67 3.67
USD / KWD 0.3071 0.30 0.30 0.30 0.30 0.30 0.30 0.30
USD / OMR 0.3848 0.39 0.39 0.39 0.39 0.39 0.39 0.39
USD / BHD 0.3770 0.38 0.38 0.38 0.38 0.38 0.38 0.38
USD / QAR 3.6820 3.64 3.64 3.64 3.64 3.64 3.64 3.64
USD / EGP 18.9526 18.50 18.60 18.75 18.75 18.75 19.00 19.00
USD / MAD 10.3072 10.00 10.00 10.25 10.50 10.25 10.00 10.00
USD / TND 3.1581 3.80 3.90 4.00 4.00 4.10 4.10 4.00
USD / INR 79.7713 77.75 78.00 78.00 78.50 78.75 79.00 79.00
USD / CNY 6.7452 6.80 6.80 6.75 6.75 6.50 6.50 6.50
USD / SGD 1.3815 1.38 1.36 1.34 1.32 1.30 1.30 1.28

Source: Bloomberg, Emirates NBD Research.