INDIAN RUPEE RATES

Here, we are showing present rates of different currencies against Indian Rupee

What is an ‘Exchange Rate’

An exchange rate is the price of a nation’s currency in terms of another currency. Thus, an exchange rate has two components, the domestic currency, and a foreign currency, and can be quoted either directly or indirectly. In a direct quotation, the price of a unit of foreign currency is expressed in terms of the domestic currency. In an indirect quotation, the price of a unit of domestic currency is expressed in terms of the foreign currency. Exchange rates are quoted in values against the INR (
Indian Rupee Value) . However, exchange rates can also be quoted against another nation’s currency, which is known as a cross currency, or cross rate.

Indian Rupee to US dollar

Indian Rupee to Japanese YEN

Indian Rupee to EURO

How Does ‘Currency Exchange Rates’ affects economy

Exchange rate of a national currency relative to another currency has a direct bearing on the national economy because of bilateral trade relationship between both countries. For instance right now about 73.43 Indian Rupee exchange for one US dollar. The bilateral trade between both countries will be on the basis of that exchange rate. If by tomorrow the rate changes to 75.00 per dollar, the balance changes even more in favour of the US economy and the Indian economy suffers more.

A fluctuating (unstable) exchange rate leads to unstable economy whereby it becomes difficult to predict value of goods, services and the likes. This can also affect quantity and cost of import and export of such country