Australian Dollar To Indian Rupee Exchange Rate History
The Australian dollar (AUD) and Indian rupee (INR) are two currencies that have a long history of trading with one another. Their exchange rate has fluctuated over the years, influenced by various factors such as political events, economic policies, and global market trends.
The Early Years: 1983-1999
When the Australian dollar was first floated in 1983, it was valued at around 0.70 INR. Over the next decade, the exchange rate remained relatively stable, with the AUD trading at an average of 0.80 INR throughout the 1990s.
The Turn of the Century: 2000-2009
In the early 2000s, the AUD began to strengthen against the INR, reaching a high of 26.09 INR in 2001. However, this was short-lived, as the exchange rate fell back to around 16 INR by 2003. From 2004 to 2008, the AUD gradually appreciated against the INR, reaching a high of 53.14 INR in 2008.
The Global Financial Crisis: 2009-2010
The global financial crisis of 2008 had a significant impact on the exchange rate between the AUD and INR. In 2009, the AUD fell to a low of 34.72 INR, before recovering slightly to end the year at around 40 INR. The following year, the AUD rose again, reaching a high of 57.38 INR in October 2010.
The Mining Boom: 2011-2013
From 2011 to 2013, the AUD continued to strengthen against the INR, primarily due to Australia's mining boom. By August 2011, the exchange rate had reached a high of 78.79 INR. However, this trend was short-lived, as the AUD began to decline in value in late 2013.
The Recent Years: 2014-2021
In recent years, the AUD has continued to fluctuate against the INR. In 2018, the exchange rate reached a high of 52.75 INR, before falling back to around 45 INR in early 2019. By the end of 2020, the AUD was trading at around 57 INR, a significant increase from the lows of earlier that year.
The Future of the AUD-INR Exchange Rate
The future of the AUD-INR exchange rate is uncertain, as it is subject to a wide range of economic and political factors. However, analysts predict that the AUD is likely to continue to appreciate against the INR in the coming years, due to Australia's strong economic performance and India's ongoing economic challenges.
Conclusion
The exchange rate between the Australian dollar and Indian rupee has a long and complex history, shaped by a variety of economic and political factors. While the future of the AUD-INR exchange rate is uncertain, it is clear that these two currencies will continue to play an important role in global trade and finance for years to come.