Tip: Sort by YoY to get the years in which the INR was most devalued / appreciated. So now that we understand the base year and base rate, let’s have a look at the USD vs INR exchange rate data for the last 70+ years.įor the purpose of analysis and quickly figuring out the years in which the INR was devalued the most, we’re also adding the YoY change (%) and absolute change (%). All the available records for USD vs INR exchange rate data follow the 1st theory as it assumes a practical scenario of existence of some form of trade between the involved nations at the time of India’s independence. A standard was established only after the Bretton Woods Agreement was passed in 1944. So by this logic, the value of USD vs INR in 1947 was $1 = ₹1īefore 1944, there was no standard system of comparing the world currencies.
#INR USD EXCHANGE RATES FREE#
This would essentially mean that the rupee was valued at parity (equal) with all other foreign currencies including the dollar. XE’s free live currency conversion chart for Indian Rupee to US Dollar allows you to pair exchange rate history for up to 10 years. It assumes that as India got its independence, it was a free and new nation with no foreign debt / credit on its national balance sheet. This theory is a comparatively easy and straightforward. It was only after this year that the INR was in a true sense compared to the USD on a one-to-one basis. So by this logic, the followers of theory 1 believe that the value of USD vs INR in 1947 was ₹4.76įun Fact: When the British left India in 1947, the exchange rate arrangement between pound and rupee (£1 = ₹13) was maintained until 1966. British Pound and US Dollar: £1 = $2.73īy equating the 2 above we get, $1 = ₹4.76.British Pound and Indian Rupee: £1 = ₹13.Since India was ruled by the British Empire before its independence, the INR essentially derived its value from the British Pound (£). As for the base rate there are 2 theories that go as below: Theory 1 In the beginning rate at 83.72 Indian Rupees. We will consider 1947 as the base year as that is the year when India got its independence. The USD to INR forecast at the end of the month 83.72, change for November 0.9. Convert To Result Explain 1 USD: INR: 82.4178 INR: 1 US Dollar 82.4178 Indian Rupees on. US Dollars (USD) to Indian Rupees (INR) exchange rate for October 10, 2022. world currency exchange rates and currency exchange rate history. Base Year & Rateīefore we dive into the data, we must understand the base year and the base rate. Historical exchange rate from US Dollars (USD) to Indian Rupees (INR) for October 10, 2022. dollars, divide the foreign currency amount by the applicable yearly average. So how has rupee fared against the dollar in the last 70 years? Let’s take a look at it. For additional exchange rates not listed below, refer to the governmental and external resources listed on the Foreign Currency and Currency Exchange Rates page or any other posted exchange rate (that is used consistently). Ever since India got its independence from the British Empire in 1947, the rupee has been on a long one-way journey of devaluation against the dollar. Our own currency, the Indian National Rupee (INR) is no exception when it comes to global trade. Some people might challenge USD’s dominance in the future but for now it’s here to stay. Currencies of almost all nations are pegged against the USD to decide their value in the global markets. More than 72% of international trade involves USD at some level or the other. USD is the most powerful currency in the world right now and it has been so for many decades now owing to America’s economic world dominance. All Rights Reserved.The official currency of the United States of America, the US Dollar ($) is an universal symbol of money and is one of the most recognized symbols worldwide. All content of the Dow Jones branded indices © S&P Dow Jones Indices LLC 2019 and/or its affiliates. Standard & Poor's and S&P are registered trademarks of Standard & Poor's Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. Chicago Mercantile Association: Certain market data is the property of Chicago Mercantile Exchange Inc. Factset: FactSet Research Systems Inc.2019. Historical exchange rate from US Dollars (USD) to Indian Rupees (INR) for October 10, 2022. 1 Indian Rupee to US Dollar Convert INR to USD at the real exchange rate 1.00000 INR 0.01216 USD Mid-market exchange rate at 07:14 UTC Track the exchange rate Send money The safe and easy way to exchange INR to USD You always get the best exchange rate with Wise, whether you send, spend, or convert money in dozens of currencies. Market indices are shown in real time, except for the DJIA, which is delayed by two minutes.
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