1 INR to USD in 1920: An Insight into the Past
The year 1920 was a significant period in world history, with the aftermath of World War I still lingering and the Roaring Twenties just beginning. As the global economy was slowly recovering from the devastation of the war, currencies around the world were experiencing fluctuations. One such currency exchange that is often overlooked is the Indian Rupee (INR) to the United States Dollar (USD) in 1920.
The Economic Landscape of 1920
In the early 20th century, the Indian subcontinent was still under British colonial rule, and the Indian economy was heavily influenced by the British Empire. The Indian Rupee, which was introduced in 1861, was pegged to the British Pound at a fixed rate of 15 Rupees to 1 Pound. On the other hand, the United States was experiencing a post-war boom, with industrial production and economic growth on the rise.
1 INR to USD in 1920: The Exchange Rate
In 1920, the exchange rate between the Indian Rupee and the United States Dollar was approximately 1 INR = 0.22 USD. This exchange rate was influenced by various factors, including the British colonial rule in India, the global economic situation, and the trade relations between India and the United States.
Factors Affecting the Exchange Rate
Several factors contributed to the exchange rate of 1 INR to 0.22 USD in 1920:
- British Colonial Rule: The Indian economy was heavily influenced by the British Empire, which controlled India's economy and trade policies.
- Global Economic Situation: The global economy was still recovering from the devastation of World War I, leading to fluctuations in currency exchange rates.
- Trade Relations: India's trade relations with the United States were limited, which affected the demand for the US Dollar in India.
Conclusion
In conclusion, the exchange rate of 1 INR to 0.22 USD in 1920 was influenced by a complex array of factors, including colonial rule, global economic conditions, and trade relations. Understanding the historical context of currency exchange rates provides valuable insights into the complexities of global economics and international trade.
