Friday, February 23rd, 2024

Dollar, Yuan and Dirham, where does our rupee stand in front of these foreign currencies, see this exchange rate list

New Delhi: All the countries of the world have their own currency ie currency. Business is done in the same currency inside every country. As our currency is Rupee. Which country’s currency is strong and which country’s is weak, it is known from the exchange rate. Actually, how weak or strong a currency is compared to the currency of another country, its address is known from the exchange rate. For example, if we look at the Rupee and the US Dollar, the current Rupee to Dollar exchange rate is 82.95. Explain that before the year 1990, the exchange rate was fixed by the RBI. At that time there was a fixed exchange rate in India. But it also had many disadvantages. Hence floating exchange rate was implemented later in India.

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See here the exchange rate of rupee

rupiah exchange rates

Ministry of Finance has issued the exchange rate list of one unit of foreign currency equal to Indian Rupee. It is different for import goods and export goods. According to the data, the exchange rate of Australian dollar to rupee for import goods is 57.35, that is, 57.35 rupees will have to be given for one Australian dollar. Similarly, the exchange rate of Bahrain Dinar is 224.55, Canadian Dollar 63.50, Chinese Yuan 11.60, Euro 93.75 and Qatari Riyal 23.25.

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The exchange rate of US Dollar to Indian Rupee is 82.95 in import goods. Similarly, Hong Kong dollar is 10.70, UAE dirham 23.05, Turkish lira 3.15, Swiss franc 97.70, Swedish kroner 8.15, South African rand 4.75 and Singapore dollar 63.10.

Know how the exchange rate is decided

The exchange rate depends on many factors. Inflation, interest rates, capital inflows, liquidity and the current account balance also affect the exchange rate. The biggest factor in this is demand and supply. As demand increases, value increases and as demand decreases, value decreases. When the demand for dollar increases in the global market, it becomes expensive. This is called floating exchange rate.

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