Us Dollar Vs Indian Rupee Exchange Rate Today
What is the exchange rate of US dollar and Indian rupee today?
The exchange rate of US dollar and Indian rupee today is 1 USD = 74.14 INR (as of [insert current date]).
Factors affecting the exchange rate
The exchange rate of US dollar and Indian rupee is affected by various factors such as inflation, interest rates, political stability, and economic growth. For instance, if the inflation rate in India is higher than that in the US, the value of Indian rupee decreases against the US dollar.
Impact of COVID-19 on exchange rate
The outbreak of COVID-19 has had a significant impact on the global economy, including the exchange rate of US dollar and Indian rupee. Due to the uncertainty and volatility caused by the pandemic, investors have been flocking to safe-haven currencies such as the US dollar, resulting in a strengthening of the dollar against the Indian rupee.
Historical trends in exchange rate
The exchange rate of US dollar and Indian rupee has shown significant fluctuations over the years. For instance, in 2013, the exchange rate was around 60 INR per USD, whereas in 2020, it reached an all-time high of 76 INR per USD.
How to track exchange rate
There are various ways to track the exchange rate of US dollar and Indian rupee. You can check the exchange rate on financial news websites such as Bloomberg, Reuters, or Yahoo Finance. You can also download mobile apps such as XE Currency or Currency Converter to get real-time updates on the exchange rate.
Impact of exchange rate on trade
The exchange rate of US dollar and Indian rupee has a significant impact on trade between the two countries. A weaker Indian rupee makes Indian exports cheaper and more competitive in the global market, thus boosting the country's exports. On the other hand, a stronger Indian rupee makes imports cheaper, thereby benefiting Indian consumers.
Conclusion
The exchange rate of US dollar and Indian rupee is a crucial factor in determining the economic relations between the two countries. It is affected by various factors and shows significant fluctuations over time. Investors and traders need to keep an eye on the exchange rate to make informed decisions.