The rate of exchange between different currencies like the Dollar and the Rupee keeps fluctuating on a regular basis as they are constantly traded on the international foreign exchange market, or as it is more popularly called the ‘Forex’ market. Exchange rates between currencies essentially serve as a way to measure the value of different currencies against one another. The official currency of the US, the Dollar ($) is often used as a standard to compare the exchange rates of all currencies and determine their value. The value of the Rupee (₹) has been consistently going down in comparison to the value of the Dollar over the past few months, although it has recovered somewhat recently.
At the time of writing this article on November 15, 2022, the rate of the Dollar to INR is ₹81.36 for $1. Just a few weeks ago in October 2022, the rate of the Rupee against the Dollar had crossed its highest-ever exchange rate at more than ₹83 for $1. As the Federal Reserve increases interest rates in the United States to battle inflation, it directly affects the exchange rates for different currencies, including the Rupee. The value of many other countries’ currencies has also gotten weaker in comparison to the value of the Dollar. Unstable and weak economic conditions worldwide due to the prolonged pandemic and as well as the going Russia-Ukraine war have also contributed to the phenomenon of the Rupee and other currencies getting weaker.
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 15, 2022:
Euro to INR: The rate of Euro to INR is 1 Euro for ₹84.03, as of November 15, 2022.
British Pound: The rate of British Pound to INR for 1 British Pound is ₹95.82, as of November 15, 2022.
Australian Dollar: The rate of Australian Dollar to INR for 1 Australian Dollar is ₹54.55, as of November 15, 2022.
Canadian Dollar: The rate of Canadian Dollar to INR for 1 Canadian Dollar is ₹61.17, as of November 15, 2022.
Singapore Dollar: The rate of Singapore Dollar to INR for 1 Singapore Dollar is ₹59.26, as of November 15, 2022.
Swiss Franc: The rate of Swiss Franc to INR for 1 Swiss Franc is ₹86.20, as of November 15, 2022.
Japanese Yen: The rate of Japanese Yen to INR for 1 Japanese Yen is ₹0.57, as of November 15, 2022.
Chinese Yuan: The rate of Chinese Yuan to INR for 1 Chinese Yuan is ₹11.55, as of November 15, 2022.
Disclaimer: All of the currency exchange rates mentioned in the article have been recorded at the time of writing and are subject to change in the future.