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This is a list of tables showing the historical timeline of the exchange rate for the Indian rupee (INR) against the special drawing rights unit (SDR), United States dollar (USD), pound sterling (GBP), Deutsche mark (DM), euro (EUR) and Japanese yen (JPY). The rupee was worth one shilling and sixpence in sterling in 1947.
The foreign exchange reserves of India are holdings of cash, bank deposits, bonds, and other financial assets denominated in currencies other than India's national currency, the Indian rupee. The foreign-exchange reserves are managed by the Reserve Bank of India (RBI) for the Indian government , and the main component is foreign currency assets.
As of November 2024, India's foreign exchange reserves stand at approximately $682.13 billion. This figure can fluctuate based on various factors such as trade balances, capital flows, and the Reserve Bank of India's (RBI) interventions in the forex market. During pre-1991 Era, India faced significant balance of payments crises, leading to low ...
Other rates (such as the EUR/INR and INR/JPY) have the volatility typical of floating exchange rates, and often create persistent arbitrage opportunities against the RBI. [80] Unlike China , successive administrations (through RBI, the central bank) have not followed a policy of pegging the INR to a specific foreign currency at a particular ...
Special drawing rights were created by the IMF in 1969 and were intended to be an asset held in foreign exchange reserves under the Bretton Woods system of fixed exchange rates. [3] After the collapse of that system in the early 1970s, the XDR has taken on a less important role. [ 15 ]
The preamble of the Reserve Bank of India describes the basic functions of the reserve bank as: [13]...to regulate the issue of Bank notes and keeping of reserves with a view to securing monetary stability in India and generally to operate the currency and credit system of the country to its advantage; to have a modern monetary policy framework to meet the challenge of an increasingly complex ...
Euro: European Central Bank (Bank of Finland) Suomen Pankki / Finlands Bank: 1812 France: Euro: European Central Bank (Bank of France) Banque de France: 1800 Gabon: Central African CFA franc: Bank of Central African States: Banque des États de l'Afrique Centrale: 1972 The Gambia: Gambian dalasi: Central Bank of The Gambia: 1971 Germany: Euro
For instance, the quotation EURUSD (EUR/USD) 1.5465 is the price of the Euro expressed in US dollars, meaning 1 euro = 1.5465 dollars. The market convention is to quote most exchange rates against the USD with the US dollar as the base currency (e.g. USDJPY, USDCAD, USDCHF).