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Data from 1971 to 1991–92 are based on official exchange rates. Data from 1992 to 1993 onward are based on FEDAI (Foreign Exchange Dealers' Association of India) indicative rates. Data from 1971 to 1972–73 for the Deutsche Mark and the Japanese Yen are cross rates with the US Dollar. The Euro replaced the Deutsche Mark w.e.f. January 1, 1999.
Currency ISO 4217 code Symbol or Abbrev. [2]Proportion of daily volume Change (2019–2022) April 2019 April 2022 U.S. dollar: USD $, US$ 88.3%: 88.5%: 0.2pp Euro
No description. Template parameters [Edit template data] Parameter Description Type Status Rupee value 1 no description Example 123.45 Number optional 2 2 no description Unknown optional Link link This param is used to link ₹ to the article [[Indian rupee]] Suggested values yes Default no String optional year year no description Unknown optional About about The parameter will cause the ...
This story was initially published on the Benzinga India Portal. The Indian rupee plummeted to a historic low on Thursday, driven by strong dollar demand from local importers and likely capital ...
Officially, the Indian rupee has a market-determined exchange rate. However, the Reserve Bank of India trades actively in the USD/INR currency market to impact effective exchange rates. Thus, the currency regime in place for the Indian rupee with respect to the US dollar is a de facto controlled exchange rate.
The history of the rupee traces back to ancient times in the Indian subcontinent. The mention of rūpya by Pāṇini is seemingly the earliest reference in a text about coins. [ 2 ] The term in Indian subcontinent was used for referring to a coin.
In June 2020, India's foreign exchange reserves crossed the US$500 billion mark for the first time. [16] In June 2021, India's foreign exchange reserves crossed the US$600 billion mark for the first time. [17] [18] India's total forex reserves touched an all-time high of US$642.453 billion on 8 September 2021. [19]
The Indian rupee was the official currency of Dubai and Qatar until 1959, when India created a new Gulf rupee (also known as the "external rupee") to hinder the smuggling of gold. [16] The Gulf rupee was legal tender until 1966, when India significantly devalued the Indian rupee and a new Qatar-Dubai riyal was established to provide economic ...