1 USD to INR: A Historical Exchange Rate Analysis from 2014 to 2023
The exchange rate between the United States dollar (USD) and the Indian rupee (INR) has undergone significant fluctuations over the years. In this article, we'll delve into the historical exchange rate data from 2014 to 2023, analyzing the trends, highs, and lows of the 1 USD to INR exchange rate.
2014: A Year of Relative Stability
In 2014, the 1 USD to INR exchange rate remained relatively stable, ranging from 58.63 to 62.34. The average exchange rate for the year was around 60.43 INR per USD.
2015: A Year of Volatility
In 2015, the exchange rate experienced significant fluctuations. The year started with a high of 63.15 INR per USD in January, followed by a sharp decline to 58.52 INR per USD in August. The average exchange rate for the year was around 61.51 INR per USD.
2016: A Year of Strengthening Rupee
In 2016, the INR strengthened against the USD, with the exchange rate ranging from 65.25 to 68.15 INR per USD. The average exchange rate for the year was around 66.45 INR per USD.
2017: A Year of Range-Bound Trading
In 2017, the exchange rate remained range-bound, fluctuating between 63.33 and 68.17 INR per USD. The average exchange rate for the year was around 64.84 INR per USD.
2018: A Year of Weakening Rupee
In 2018, the INR weakened against the USD, with the exchange rate ranging from 63.51 to 74.48 INR per USD. The average exchange rate for the year was around 69.18 INR per USD.
2019: A Year of High Volatility
In 2019, the exchange rate experienced high volatility, ranging from 68.35 to 75.16 INR per USD. The average exchange rate for the year was around 71.29 INR per USD.
2020: A Year of Pandemic-Driven Fluctuations
In 2020, the COVID-19 pandemic led to significant fluctuations in the exchange rate. The year started with a high of 75.57 INR per USD in January, followed by a sharp decline to 68.14 INR per USD in May. The average exchange rate for the year was around 73.39 INR per USD.
2021: A Year of Recovery
In 2021, the exchange rate recovered, ranging from 72.42 to 76.22 INR per USD. The average exchange rate for the year was around 74.24 INR per USD.
2022: A Year of Strengthening Dollar
In 2022, the USD strengthened against the INR, with the exchange rate ranging from 74.29 to 79.11 INR per USD. The average exchange rate for the year was around 76.85 INR per USD.
2023: A Year of Continued Volatility
As of March 2023, the 1 USD to INR exchange rate has ranged from 80.16 to 82.33 INR per USD. The average exchange rate for the year is around 81.25 INR per USD.
Conclusion
The 1 USD to INR exchange rate has undergone significant fluctuations over the years, influenced by various economic and geopolitical factors. Understanding these trends and patterns can help investors, traders, and individuals make informed decisions about their investments and financial transactions.
