1 AED to INR in Year 1996
Exchange Rate History
The United Arab Emirates Dirham (AED) and the Indian Rupee (INR) are two popular currencies in the Middle East and South Asia, respectively. In 1996, the exchange rate between the two currencies was a significant aspect of international trade and finance.
1 AED to INR in 1996
According to historical data, in 1996, the average exchange rate of 1 AED (United Arab Emirates Dirham) to INR (Indian Rupee) was approximately:
1 AED = 12.45 INR
This exchange rate indicates that one United Arab Emirates Dirham could be exchanged for approximately 12.45 Indian Rupees.
Economic Conditions in 1996
In 1996, the global economy was experiencing a period of growth, with the Asian economic crisis yet to unfold. India was witnessing a period of economic liberalization, with the economy growing at a rate of around 7%. The United Arab Emirates, on the other hand, was benefiting from its oil reserves and strategic location, making it a major hub for trade and finance.
Impact on Trade and Commerce
The exchange rate of 1 AED to 12.45 INR in 1996 had a significant impact on trade and commerce between the two countries. Indian exports to the UAE were valued at around $1.4 billion, while imports from the UAE were around $2.5 billion. The exchange rate made Indian goods relatively cheaper in the UAE market, promoting Indian exports.
Conclusion
In conclusion, the exchange rate of 1 AED to 12.45 INR in 1996 reflects the economic conditions and trade dynamics between the United Arab Emirates and India during that period. Understanding the historical exchange rates can provide valuable insights into the economic relationships between countries and inform financial decisions.
