1 USD to Indian Rupee (INR) Exchange Rate
The exchange rate between the United States Dollar (USD) and the Indian Rupee (INR) is an important indicator of the economic relationship between the two countries. In this article, we will explore the current exchange rate, its history, and factors that affect it.
Current Exchange Rate
As of the current date, the exchange rate is:
1 USD = 74.83 INR
This rate is subject to fluctuations and may change rapidly due to market conditions.
History of the Exchange Rate
The exchange rate between the USD and INR has undergone significant changes over the years. In the 1990s, the exchange rate was around 35 INR per USD. However, with the economic liberalization of India in the 1990s, the exchange rate started to fluctuate more frequently.
Key Events Affecting the Exchange Rate
- 2008 Global Financial Crisis: The exchange rate depreciated to around 50 INR per USD due to the global financial crisis.
- 2013 Indian Rupee Crisis: The exchange rate depreciated to a record low of 68 INR per USD due to high inflation and a large current account deficit.
- 2019 Economic Downturn: The exchange rate appreciated to around 70 INR per USD due to the economic downturn and the COVID-19 pandemic.
Factors Affecting the Exchange Rate
Several factors influence the exchange rate between the USD and INR, including:
- Interest Rates: Differences in interest rates between the two countries can affect the exchange rate.
- Inflation Rates: Inflation rates in both countries can influence the exchange rate.
- Trade Balance: The trade balance between the two countries can affect the exchange rate.
- Investor Sentiment: Investor sentiment and market expectations can influence the exchange rate.
Conclusion
The exchange rate between the USD and INR is an important indicator of the economic relationship between the two countries. Understanding the factors that affect the exchange rate is essential for businesses, investors, and individuals looking to trade or invest in India.
