Exchange Rate Of Australian Dollar To Indian Rupee
Introduction
The exchange rate of Australian Dollar (AUD) to Indian Rupee (INR) is an important factor that affects trade and investment between Australia and India. Understanding the exchange rate and its trends can help individuals and businesses make informed decisions regarding their financial transactions.
Current Exchange Rate
As of August 2021, the exchange rate of AUD to INR is approximately 55.28. This means that one Australian dollar is equivalent to 55.28 Indian rupees.
Factors Affecting the Exchange Rate
The exchange rate of AUD to INR is influenced by various factors, such as:
- Economic Performance: The economic performance of both countries affects their respective currencies. A strong economy in Australia can lead to the appreciation of AUD, while a weak economy can lead to depreciation.
- Interest Rates: The interest rates set by the central banks of Australia and India can also affect their currencies. Higher interest rates in Australia can attract foreign investors, leading to an increase in demand for AUD and appreciation in its value.
- Political Stability: Political stability or instability can also impact the exchange rate. A stable political environment can increase investor confidence, leading to an increase in demand for the currency and appreciation in its value.
- Trade and Investment: The trade and investment between Australia and India can also affect their currencies. An increase in trade and investment can lead to an increase in demand for the currency, leading to appreciation in its value.
Historical Exchange Rate
The exchange rate of AUD to INR has fluctuated over the years. In 2016, the exchange rate was around 50. In 2019, it reached its highest point at around 52, and in 2020, it fell to its lowest point at around 38 due to the COVID-19 pandemic.
Impact on Trade and Investment
The exchange rate of AUD to INR can impact trade and investment between Australia and India. A weak Australian dollar can make Australian exports cheaper and more attractive to Indian buyers, leading to an increase in exports. On the other hand, a strong Australian dollar can make imports from India cheaper, leading to an increase in imports.
Conclusion
The exchange rate of AUD to INR is an important factor that affects trade and investment between Australia and India. It is influenced by various factors such as economic performance, interest rates, political stability, and trade and investment. Understanding the exchange rate and its trends can help individuals and businesses make informed decisions regarding their financial transactions.