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1981-2018: "Table 139 : Exchange Rate of the Indian Rupee vis-à-vis the Sdr, US Dollar, Pound Sterling, D.m./Euro and Japanese Yen (Calendar Year - Annual Average)". Handbook of Statistics on Indian Economy (2019). Reserve Bank of India. 2019-09-15. Archived from the original on 2019-11-10
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.
Example of GNP-weighted nominal exchange rate history of a basket of 6 important currencies (US Dollar, Euro, Japanese Yen, Chinese Renminbi, Swiss Franks, Pound Sterling Bilateral exchange rate involves a currency pair, while an effective exchange rate is a weighted average of a basket of foreign currencies, and it can be viewed as an overall ...
The pound is the main unit of sterling, [4] [c] and the word pound is also used to refer to the British currency generally, [7] often qualified in international contexts as the British pound or the pound sterling. [4] Sterling is the world's oldest currency in continuous use since its inception. [8]
In 1850, the official conversion rate between the pound sterling and the rupee was £0 / 2s / 0d (or £1:₹10), while between 1899 and 1914, the official conversion rate was set at £0 to 1s to 4d (or £1:₹15). However, this was just half of market exchange rates between 1893 and 1917.
A currency [a] is a standardization of money in any form, in use or circulation as a medium of exchange, for example banknotes and coins. [1] [2] A more general definition is that a currency is a system of money in common use within a specific environment over time, especially for people in a nation state. [3]
The dollar-pound exchange rate then was $4.03 to the pound, which in effect gave a rupee-dollar rate in 1947 of around ₹3.30. [24] [25] The pound was devalued in 1949, changing its parity from 4.03 to 2.80. India was then a part of the sterling area, and the rupee was devalued on the same day by the same percentage so that the new dollar ...
The rupee coin has been used since then, even during British India, when it contained 11.66 g (1 tola) of 91.7% silver with an ASW of 0.3437 of a troy ounce [19] (that is, silver worth about US$10 at modern prices). [20] Valuation of the rupee based on its silver content had severe consequences in the 19th century, when the strongest economies ...