Exchange Rate Of Us Dollar To Indian Rupee Yesterday
The exchange rate of the US dollar to Indian rupee is a crucial factor in the global economy. The value of the US dollar against the Indian rupee fluctuates daily, and it is essential to keep track of these changes. Yesterday's exchange rate was a significant topic of discussion among investors and traders. Let us take a closer look at the exchange rate of the US dollar to Indian rupee yesterday.
Exchange Rate of US Dollar to Indian Rupee Yesterday
Yesterday, the exchange rate of the US dollar to Indian rupee was 74.75. This rate means that one US dollar could buy 74.75 Indian rupees. The exchange rate varies daily, and it is determined by various factors such as inflation, interest rates, and political stability.
Inflation
Inflation is one of the significant factors that affect the exchange rate of the US dollar to Indian rupee. When a country's inflation rate is high, the value of its currency decreases. India has been struggling with high inflation rates for a long time, which has impacted the value of the Indian rupee negatively. However, the Indian government has taken measures to control inflation, which has helped to stabilize the value of the rupee in recent years.
Interest Rates
The interest rates set by the central bank of a country also affect the exchange rate of its currency. When a country's interest rates are high, it attracts foreign investment, which increases the demand for its currency. The Reserve Bank of India (RBI) has been taking measures to reduce interest rates to boost the Indian economy. However, this has had a negative impact on the value of the Indian rupee.
Political Stability
Political stability is another factor that can impact the exchange rate of a currency. A country with political instability is considered a risky investment, which can lead to a decrease in its currency's value. India has been working towards political stability in recent years, which has helped to improve the value of the Indian rupee.
Conclusion
The exchange rate of the US dollar to Indian rupee yesterday was 74.75. The value of a currency is impacted by various factors such as inflation, interest rates, and political stability. It is crucial to keep track of these changes to make informed investment decisions. The Indian government has been taking measures to control inflation and improve the economy, which has had a positive impact on the value of the Indian rupee.