Global currencies change their value every minute, deciding how much you can spend abroad with your money or how much you will get if you send money back home. Today, the Indian Rupee (โน1) is compared with the following six currencies: four are international (USD, EUR, GBP, CAD) and two are Indian (BDT, PKR). What does, For more breaking updates on Gold prices and financial insights, visit our News Section for top stories from India and around the world
โน1 INR โ US $0.01141 (US Dollar)
The conversion of โน1 to USD is around 0.01141, indicating that the conversion of US$1 is approximately โน87.64.
This highlights the difference in value: a person in India sending money home or paying for imports will feel that every rupee counts.
โน1 INR โ โฌ0.00977 (Euro)
The Euro is bought for one rupee, which gives approximately โฌ0.00977. The exchange rate between the euro and the rupee is about โฌ1 = โน102.40.
This rate is essential for Indians who want to visit the Eurozone or import products from Europeโ minor changes can mean a significant difference in costs.
โน1 INR โ เงณ1.39 (Bangladeshi Taka)
Wise informs that the exchange rate from Indian Rupee to Bangladeshi Taka is around 1:1.39.
Whether it is cross-border trade with Bangladesh or helping families there, this local rate is the most relevant one for you.
โน1 INR โ โจ3.22 โ 3.34 (Pakistani Rupee)
One Indian Rupee can be converted into approximately 3.22 to 3.34 Pakistani Rupees.
As a result of the tight geographic and economic network, this exchange rate is what makes remittances, business flows and informal transfers.
โน1 INR โ โฝ0.91 (Russian Ruble)
Rs.1 will get you around 0.91 Russian Rubles.
While a rate such as this would be highly unlikely to figure in day-to-day Indian corporate or consumer transactions, it would still matter if there were trade, energy deals, or travellers heading to Russia.
What Does This Mean?
Purchasing power abroad: If the rupee is weak and you need to use foreign currency for your spending (travel, education, imports), then the amount of foreign currency you get per rupee will be less.
Remittances & transfers: Regional exchange rates (BDT, PKR) can make a difference in the amounts received by the recipients if you remit value to families or engage in cross-border businesses that require you to do so.
Imports/exports & trade: Are offshore in turn the flavour of trade goods, energy deals, and export competitiveness, all influenced by the number of rupees it takes to buy a unit of foreign currency?
Travel & planning: Travellers must follow these rates very closely โ a minor variation in INR/USD or INR/EUR can alter their spending significantly.
Keep an Eye On…
โข Bank-of-issue decisions, inflation differentials, and interest-rate changes are the main causes of currency fluctuations.
โข Political uncertainty or trade interruptions might lead to sudden extreme changes in the value of especially volatile currencies.
โข The rates you are given when you actually do the money transfer (bank/travel agent) may not be those โmid-marketโ rates that you see on the internet โ that is why you should always be checking for both fees and margins.
