Indian Rupee Exchange Rate In Us Dollar Today
Introduction
The Indian rupee is the official currency of India. It is abbreviated as INR and is used as a legal tender in India. The exchange rate of INR with other currencies fluctuates daily, and it is important to keep track of the exchange rate if you are planning to travel to India or engage in any business transactions with an Indian entity. In this article, we will discuss the exchange rate of Indian rupee with US dollars today.
Current Exchange Rate
As of today, the exchange rate of Indian rupee with the US dollar is 1 INR = 0.014 USD. This means that for every 1 US dollar, you will get approximately 72 Indian rupees. The exchange rate is subject to change and can vary from day to day depending on various factors.
Factors Affecting Exchange Rate
There are several factors that affect the exchange rate of Indian rupee with the US dollar. Some of the major factors include:
- Political stability and economic growth of India
- Inflation rates in India
- Interest rates set by the Reserve Bank of India (RBI)
- Foreign investments in India
- Global economic conditions
Impact of Exchange Rate on Economy
The exchange rate of Indian rupee with US dollars has a significant impact on the Indian economy. A weaker rupee can lead to higher inflation rates as the cost of imported goods and services increases. On the other hand, a stronger rupee can make Indian exports more expensive and less competitive in the global market.
Historical Exchange Rate
The exchange rate of Indian rupee with US dollars has fluctuated significantly over the years. In 2010, the exchange rate was around 1 INR = 0.022 USD, while in 2020, it was around 1 INR = 0.013 USD. The exchange rate is subject to change and can vary depending on various factors as discussed earlier.
Conclusion
The exchange rate of Indian rupee with US dollars is an important factor to consider if you are planning to travel to India or engage in any business transactions with an Indian entity. The exchange rate is subject to change and can vary depending on various factors such as political stability, economic growth, inflation rates, interest rates, and global economic conditions. It is important to keep track of the exchange rate to make informed decisions about your financial transactions.