The exchange rate between the different currencies keeps fluctuating every few hours or even minutes, depending on the Forex market trends. As a standard to measure the value of a nation’s currencies, the values of different currencies are compared in relation to their value against the Dollar. This comparison between the values of different currencies is termed an ‘exchange rate’. Similarly, the exchange of the Rupee against the Dollar also keeps changing on the basis of the Forex market changes as well as various other factors. The value of the Rupee has depreciated quite a lot compared to the Dollar over the past year or so.
At the time of writing this article on November 23, 2022, the exchange rate of the Dollar to INR is ₹81.81 for $1. Just a few weeks ago in October, 2022, the value of the Rupee had reached its lowest against the Dollar, going down to more than ₹83 for $1. The many factors that contributed to the recent fall in the value of the Rupee include the rising rates of inflation worldwide, supply chain issues caused due to the ongoing Russia and Ukraine war and the generally unstable economic conditions in India and many other countries around the world. Not only the Rupee but many other nations’ currencies have been devalued against the dollar in the past few months due to the above-mentioned factors.
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 November 2, 2022:
Euro to INR: The rate of Euro to INR is 1 Euro for ₹84.49, as of November 23, 2022.
British Pound: The rate of British Pound to INR for 1 British Pound is ₹97.26, as of November 23, 2022.
Australian Dollar: The rate of Australian Dollar to INR for 1 Australian Dollar is ₹54.40, as of November 23, 2022.
Canadian Dollar: The rate of Canadian Dollar to INR for 1 Canadian Dollar is ₹61.10, as of November 23, 2022.
Singapore Dollar: The rate of Singapore Dollar to INR for 1 Singapore Dollar is ₹59.16, as of November 23, 2022.
Swiss Franc: The rate of Swiss Franc to INR for 1 Swiss Franc is ₹86.04, as of November 23, 2022.
Japanese Yen: The rate of Japanese Yen to INR for 1 Japanese Yen is ₹0.57, as of November 23, 2022.
Chinese Yuan: The rate of Chinese Yuan to INR for 1 Chinese Yuan is ₹11.43, as of November 23, 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.