Current Price Of One Dollar In Indian Rupee
Introduction
The Indian Rupee (INR) is the official currency of India. It is issued by the Reserve Bank of India (RBI) and is denoted by the symbol ₹. On the other hand, the United States Dollar (USD) is the official currency of the United States and is denoted by the symbol $. The exchange rate between INR and USD is an important financial indicator for businesses and individuals who trade between the two countries. In this article, we will discuss the current price of one dollar in Indian rupee.
Factors Affecting the Exchange Rate
The exchange rate between INR and USD is determined by various economic and political factors. These include inflation rates, interest rates, trade deficits, political stability, and geopolitical events. Changes in any of these factors can lead to fluctuations in the exchange rate.
Current Price of One Dollar in Indian Rupee
As of today, the current price of one dollar in Indian rupee is ₹74.79. This means that if you want to convert one US dollar to Indian rupees, you will receive ₹74.79.
Historical Exchange Rates
The exchange rate between INR and USD has been volatile in the past. In 2013, the exchange rate was around ₹54 for one US dollar. However, in 2018, the exchange rate reached a record high of ₹74.48 for one US dollar. This was due to various economic and political factors.
Implications of the Exchange Rate
The exchange rate between INR and USD has significant implications for businesses and individuals who trade between the two countries. A higher exchange rate means that it is more expensive for Indian businesses to import goods from the United States, while it is cheaper for US businesses to export goods to India. On the other hand, a lower exchange rate means that it is cheaper for Indian businesses to import goods from the United States, while it is more expensive for US businesses to export goods to India.
Conclusion
The exchange rate between INR and USD is an important financial indicator for businesses and individuals who trade between the two countries. As of today, the current price of one dollar in Indian rupee is ₹74.79. However, the exchange rate is subject to change due to various economic and political factors. It is important for businesses and individuals to keep track of the exchange rate to make informed financial decisions.