The exchange rates between different nations’ currencies keep changing as they are traded on the foreign exchange, more popularly called the ‘Forex’. In the past few months, the value of the Rupee (₹) has depreciated quite a lot against the Dollar ($). There are a variety of factors that have led to this, but the primary ones are the increase in interest rates by the Federal Reserve in the US, the ongoing Russia-Ukraine war and the rising inflation in many countries across the world. It is also important to understand that the Dollar to Rupee exchange also rate keeps fluctuating every day and every few hours, depending on Forex trends.
At the time of writing this article on November 24, 2022, the rate of Dollar to INR is ₹81.75 for $1. A few weeks ago, the rate of the Rupee against the dollar had crossed its higher-ever exchange rate at more than ₹83 for $1 in October. As the Fed in the US raises interest rates to battle inflation, it has directly affected the exchange rates for different currencies. Not just the Rupee, but currencies of many other countries are getting weaker in comparison to the Dollar following basic supply and demand rules on the Forex. Rising inflation worldwide and unstable economic conditions in many countries have also contributed to this. say that if this trend continues, the value of the Rupee against the Dollar could depreciate even more in the near future, even going down to ₹84 or ₹85 for $1.
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 24, 2022:
Euro to INR: The rate of Euro to INR is 1 Euro for ₹85.31, as of November 24, 2022.
British Pound: The rate of British Pound to INR for 1 British Pound is ₹98.85, as of November 24, 2022.
Australian Dollar: The rate of Australian Dollar to INR for 1 Australian Dollar is ₹55.23, as of November 24, 2022.
Canadian Dollar: The rate of Canadian Dollar to INR for 1 Canadian Dollar is ₹61.24, as of November 24, 2022.
Singapore Dollar: The rate of Singapore Dollar to INR for 1 Singapore Dollar is ₹59.48, as of November 24, 2022.
Swiss Franc: The rate of Swiss Franc to INR for 1 Swiss Franc is ₹86.95, as of November 24, 2022.
Japanese Yen: The rate of Japanese Yen to INR for 1 Japanese Yen is ₹0.58, as of November 24, 2022.
Chinese Yuan: The rate of Chinese Yuan to INR for 1 Chinese Yuan is ₹11.44, as of November 24, 2022.
Disclaimer: All of the exchange rates mentioned in the article have been recorded at the time of writing and are subject to change in the future.