The exchange rate between different countries’ currencies keeps fluctuating on a very frequent basis as the currencies are traded on the foreign exchange (Forex) market. Exchange rates between currencies basically serve as a way to measure the relative value of one currency against another. For instance, when it said that the Dollar ($) to INR (₹) rate is ₹80 for $1, it means that the value of $1 is equal to the value of ₹80 on the Forex market and the currencies can be exchanged at that rate. The Dollar is often used as an international standard to measure and compare the exchange rates of different currencies. These exchange rates also keep changing frequently based on various factors like international commerce, Forex trading, etc. The value of the Rupee has depreciated quite a lot compared to the Dollar, almost by around 10% over the past year.
At the time of writing this article on November 14, 2022, the exchange rate of the Dollar to INR is ₹81.09 for $1. Just a few weeks ago, the value of the Rupee had reached its lowest against the Dollar in October 2022, going down as far as ₹83 for $1. The various factors that have contributed to the recent fall in the value of the Rupee against the Dollar include the rates of inflation rising worldwide, supply chain issues caused due to the ongoing Russia and Ukraine war, and the generally unstable economic conditions in India and many other countries around the world caused as a result of the prolonged pandemic. Not just the Rupee but many other countries’ currencies have lost value against the Dollar in the past few months due to similar factors mentioned above.
Now that we’ve looked at the rates of the Rupee against the Dollar, let’s also take a look at the exchange rate of other the Rupee against other major international currencies, as on November 14, 2022:
Euro to INR: The rate of Euro to INR is 1 Euro for ₹83.68, as of November 14, 2022.
British Pound: The rate of British Pound to INR for 1 British Pound is ₹95.41, as of November 14, 2022.
Australian Dollar: The rate of Australian Dollar to INR for 1 Australian Dollar is ₹54.24, as of November 14, 2022.
Canadian Dollar: The rate of Canadian Dollar to INR for 1 Canadian Dollar is ₹61.12, as of November 14, 2022.
Singapore Dollar: The rate of Singapore Dollar to INR for 1 Singapore Dollar is ₹59.07, as of November 14, 2022.
Swiss Franc: The rate of Swiss Franc to INR for 1 Swiss Franc is ₹85.66, as of November 14, 2022.
Japanese Yen: The rate of Japanese Yen to INR for 1 Japanese Yen is ₹0.58, as of November 14, 2022.
Chinese Yuan: The rate of Chinese Yuan to INR for 1 Chinese Yuan is ₹11.52, as of November 14, 2022.
Disclaimer: All of the exchange rates that are mentioned in this article have been recorded at the time of writing this article and are subject to change in the future.