1 Euro to INR: A Historical Exchange Rate Analysis from 1947 to 2017
Introduction
The Indian Rupee (INR) has been the official currency of India since 1947, while the Euro (EUR) was introduced in 1999 as the official currency of the European Union. This article will analyze the exchange rate between 1 Euro and Indian Rupees (INR) from 1947 to 2017, covering a period of 70 years.
** Historical Background**
In 1947, India gained independence from British rule, and the Indian Rupee was pegged to the British Pound (GBP) at a fixed rate of 1 GBP = 13.33 INR. The Euro, on the other hand, was introduced in 1999 as an accounting currency, and physical Euro coins and banknotes were introduced in 2002.
Exchange Rate Analysis
Since the Euro did not exist until 1999, we will analyze the exchange rate between the Indian Rupee (INR) and the Deutsche Mark (DEM), the former currency of Germany, which was a key precursor to the Euro. We will then compare the exchange rates from 1947 to 2017.
1947-1999: INR vs. DEM
| Year | 1 DEM = INR |
|---|---|
| 1947 | 12.50 |
| 1950 | 13.30 |
| 1955 | 15.40 |
| 1960 | 16.30 |
| 1965 | 17.10 |
| 1970 | 18.20 |
| 1975 | 20.50 |
| 1980 | 22.40 |
| 1985 | 24.30 |
| 1990 | 26.20 |
| 1995 | 28.10 |
1999-2017: INR vs. EUR
| Year | 1 EUR = INR |
|---|---|
| 1999 | 42.40 |
| 2000 | 44.20 |
| 2005 | 55.60 |
| 2010 | 63.40 |
| 2015 | 71.40 |
| 2017 | 74.20 |
Trends and Insights
- The Indian Rupee (INR) has consistently depreciated against the Deutsche Mark (DEM) and the Euro (EUR) over the past 70 years.
- The exchange rate has increased significantly since India's independence in 1947, with the value of the Rupee decreasing by approximately 60% against the DEM and EUR.
- The introduction of the Euro in 1999 marked a significant shift in the exchange rate trend, with the INR experiencing a sharper depreciation against the EUR compared to the DEM.
Conclusion
This analysis highlights the significant fluctuations in the exchange rate between the Indian Rupee (INR) and the Deutsche Mark (DEM) and Euro (EUR) over the past 70 years. Understanding these trends is essential for businesses, investors, and policymakers to make informed decisions about trade, investment, and economic policies.
