1 AED to INR in Year 2005
In this article, we will explore the exchange rate of 1 United Arab Emirates Dirham (AED) to Indian Rupee (INR) in the year 2005.
Historical Exchange Rate
The exchange rate of 1 AED to INR in 2005 was around 13.55 INR. This rate was relatively stable throughout the year, with minor fluctuations due to market conditions.
Economic Conditions in 2005
In 2005, the global economy was experiencing a period of growth, with many countries, including the United Arab Emirates and India, witnessing rapid economic expansion. The UAE's economy was driven by its oil exports, while India's economy was driven by its growing IT and service sectors.
Currency Strength
The AED, which is pegged to the US Dollar, was considered a strong currency in 2005, while the INR was considered a relatively weaker currency. This was due to India's high inflation rate and trade deficit.
Impact on Trade and Tourism
The exchange rate of 1 AED to INR in 2005 had a significant impact on trade and tourism between the two countries. Indian tourists visiting the UAE were encouraged by the favorable exchange rate, which made their trip more affordable. Similarly, UAE businesses exporting goods to India benefited from the stronger AED.
Conclusion
In conclusion, the exchange rate of 1 AED to INR in 2005 was around 13.55 INR. The relatively stable exchange rate was influenced by the economic conditions of both countries, with the AED being considered a stronger currency. The exchange rate had a significant impact on trade and tourism between the two countries.
References
- International Monetary Fund (IMF): Exchange rate data for 2005
- Central Bank of the United Arab Emirates: Economic data for 2005
- ** Reserve Bank of India**: Economic data for 2005
