The exchange rate between the US Dollar and Indian Rupee is a crucial aspect of international trade and commerce. The value of the Indian Rupee against the US Dollar is an indicator of the economic health of India, and the exchange rate is often used as a benchmark for international financial transactions. This article will provide an overview of the buying and selling rate of the US Dollar to Indian Rupee.
The Current Exchange Rate
As of August 2021, the current exchange rate of the US Dollar to Indian Rupee is approximately 74.50 INR per USD for buying and 74.70 INR per USD for selling. However, the exchange rate is subject to fluctuations due to various economic and political factors.
Factors Affecting the Exchange Rate
There are several factors that affect the exchange rate of the US Dollar and Indian Rupee. These include:
- Interest rates set by the Reserve Bank of India and the US Federal Reserve - Inflation rates in both countries - Political stability and economic performance in both countries - Trade policies and agreements between India and the US - Currency demand and supply in the global market
Impact of Exchange Rate on Trade and Investment
The exchange rate between the US Dollar and Indian Rupee has a significant impact on trade and investment between the two countries. A weaker Indian Rupee makes Indian exports more competitive, while a stronger Rupee makes imports cheaper. A higher exchange rate also attracts foreign investment into India, while a lower exchange rate encourages Indian investors to invest abroad.
Historical Exchange Rate
The exchange rate between the US Dollar and Indian Rupee has been subject to fluctuations over time. In the 1970s, the exchange rate was around 7.50 INR per USD. However, due to various economic and political factors, the exchange rate has fluctuated significantly over the years. In recent years, the exchange rate has been relatively stable, hovering around 70-80 INR per USD.
Conclusion
In conclusion, the exchange rate between the US Dollar and Indian Rupee is a crucial aspect of international trade and investment. It is subject to fluctuations due to various economic and political factors, and its impact on trade and investment cannot be ignored. As of August 2021, the current exchange rate is approximately 74.50 INR per USD for buying and 74.70 INR per USD for selling. However, it is important to keep an eye on the exchange rate as it may fluctuate in the future.
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