1 Dollar Rate in 2010 in India
Exchange Rate in 2010
In 2010, the exchange rate of 1 US dollar (USD) in India was fluctuating throughout the year. The Indian rupee (INR) was traded against the US dollar in the foreign exchange market.
Average Exchange Rate
The average exchange rate of 1 USD in 2010 in India was around 45.74 INR. This means that if you exchanged 1 US dollar, you would get approximately 45.74 Indian rupees.
Highest and Lowest Rates
The highest exchange rate of 1 USD in 2010 in India was 48.45 INR on May 4, 2010, while the lowest rate was 44.42 INR on November 11, 2010.
Impact on Economy
The exchange rate fluctuations in 2010 had a significant impact on India's economy. The depreciation of the Indian rupee against the US dollar made imports more expensive, leading to higher prices of goods and services. On the other hand, the depreciation also made Indian exports more competitive in the global market, which helped to boost the country's exports.
Reserve Bank of India's Intervention
The Reserve Bank of India (RBI), the country's central bank, intervened in the foreign exchange market to stabilize the exchange rate and maintain economic stability. The RBI sold dollars and bought rupees to reduce the volatility in the exchange rate and prevent a sharp depreciation of the rupee.
Conclusion
In conclusion, the exchange rate of 1 USD in 2010 in India was around 45.74 INR on average. The exchange rate fluctuations had a significant impact on the Indian economy, and the RBI intervened to stabilize the exchange rate and maintain economic stability.
