AED to INR Exchange Rate in 2006: A Look Back
The exchange rate between the United Arab Emirates Dirham (AED) and the Indian Rupee (INR) fluctuated throughout 2006, with several factors influencing its movement.
Key Factors Influencing the AED/INR Exchange Rate in 2006:
- Global Oil Prices: As a major oil exporter, the UAE's economy is heavily reliant on oil prices. Higher oil prices generally strengthened the AED against other currencies, including the INR.
- India's Economic Growth: India's robust economic growth during this period created a demand for foreign currencies, including the AED.
- Interest Rate Differentials: Interest rate policies in both the UAE and India played a role. Higher interest rates in the UAE tended to attract foreign investment, boosting the AED.
- Political and Economic Stability: The UAE's political and economic stability contributed to the strength of its currency. Conversely, any economic or political uncertainties in India could have weakened the INR.
Average Exchange Rates:
Although specific daily rates varied, the average exchange rate between AED and INR during 2006 was around 1 AED to 18.5 INR. However, this was just an average, and actual rates could have differed significantly throughout the year.
Historical Data:
To gain a more precise understanding of the AED to INR exchange rate fluctuations in 2006, you can access historical data from financial websites and data providers. These resources often offer detailed charts and information on daily, weekly, or monthly exchange rates.
Conclusion:
The AED to INR exchange rate in 2006 was influenced by various factors, including global oil prices, India's economic growth, and interest rate differentials. While the average exchange rate for the year was around 1 AED to 18.5 INR, the actual rates could have varied significantly. To get a complete picture, you can explore historical data from financial websites and data providers.
