The rate of exchange between currencies of different countries keeps changing constantly as they are continuously traded on the foreign exchange market, or the ‘Forex’. While exchange rates between different currencies are important for international trade, in order to determine the value of any country’s currency, its value is measured in comparison to the value of the Dollar. Similarly, in order to determine the value of the Rupee (₹), it is also compared to the value of the Dollar ($), and the rate of exchange between these two currencies also keeps changing. Over the past year or so, the rate of the Rupee has gone down in comparison to the rate of the Dollar, due to various international economic factors.
At the time of writing this article on December 6, 2022, the Dollar to INR exchange rate currently stands at ₹82.26 for $1. The Rupee reached its highest-ever level in October 2022, going up to more than ₹83 for $1. The falling of the rate of the Rupee is not just limited to our currency, but the currencies of many other countries had also seen a decline in value as the Federal Reserve in the US increased interest rates multiple times over recent months. Moreover, a slowdown of the economy caused to due the pandemic and the economic instability caused by the ongoing Russia-Ukraine war has also contributed to the value of the Rupee and other currencies falling.
Now that we’ve looked at the rates of the Rupee against the Dollar, let’s also take a look at the exchange rate of other the Rupee against other major international currencies, as on December 6, 2022:
Euro to INR: The rate of Euro to INR is 1 Euro for ₹86.26, as of December 6, 2022.
British Pound to INR: The rate of British Pound to INR for 1 British Pound is ₹100.27, as of December 6, 2022.
Australian Dollar to INR: The rate of Australian Dollar to INR for 1 Australian Dollar is ₹55.32, as of December 6, 2022.
Canadian Dollar to INR: The rate of Canadian Dollar to INR for 1 Canadian Dollar is ₹60.51, as of December 6, 2022.
Singapore Dollar to INR: The rate of Singapore Dollar to INR for 1 Singapore Dollar is ₹60.65, as of December 6, 2022.
Swiss Franc to INR: The rate of Swiss Franc to INR for 1 Swiss Franc is ₹87.21, as of December 6, 2022.
Japanese Yen to INR: The rate of Japanese Yen to INR for 1 Japanese Yen is ₹0.60, as of December 6, 2022.
Chinese Yuan to INR: The rate of Chinese Yuan to INR for 1 Chinese Yuan is ₹11.78, as of December 6, 2022.
Disclaimer: All of the exchange rates that are mentioned in this article have been recorded at the time of writing this article and are subject to change in the future.