Price Of 1 Australian Dollar In Indian Rupees
The Australian dollar is the official currency of Australia and is abbreviated as AUD. On the other hand, Indian rupee is the official currency of India and is abbreviated as INR. The conversion rate between these two currencies changes frequently due to various economic and geopolitical factors that affect the global currency market.
If you are planning to travel to India from Australia or want to invest in the Indian market, you need to know the current exchange rate of AUD to INR. In this article, we will discuss the current price of 1 Australian dollar in Indian rupees and some factors that affect the exchange rate.
Current Exchange Rate
As of August 2021, the current exchange rate of 1 Australian dollar to Indian rupees is 57.77 INR. This means if you exchange 1 AUD, you will get 57.77 INR in return. However, this rate is subject to change depending on various factors.
Factors Affecting the Exchange Rate
The exchange rate of AUD to INR is determined by various economic and geopolitical factors, some of which are:
- Interest Rates: The interest rates set by the Reserve Bank of Australia and the Reserve Bank of India affect the exchange rate. Higher interest rates generally lead to a stronger currency.
- Inflation: Inflation rates in both countries can affect the exchange rate. If the inflation rate is high in one country compared to the other, its currency will depreciate.
- Political Stability: Political instability in a country can affect its currency. If there is political uncertainty, investors may pull out their funds, leading to a weaker currency.
- Trade Balance: The trade balance between two countries can affect the exchange rate. If one country has a trade surplus with the other, its currency will appreciate.
Historical Exchange Rate
The exchange rate of AUD to INR has fluctuated over the years due to various economic and geopolitical factors. Here is a brief history of the exchange rate:
- In 2016, the exchange rate was around 50 INR for 1 AUD.
- In 2018, the exchange rate increased to around 51 INR for 1 AUD.
- In 2020, the exchange rate decreased to around 45 INR for 1 AUD due to the COVID-19 pandemic.
- In 2021, the exchange rate has increased to around 57.77 INR for 1 AUD.
Conclusion
The exchange rate of AUD to INR is important for people who want to travel or invest in India. It is determined by various economic and geopolitical factors such as interest rates, inflation, political stability, and trade balance. The current exchange rate as of August 2021 is 57.77 INR for 1 AUD, but it is subject to change. It is important to keep an eye on the exchange rate if you want to make any financial transactions between these two currencies.