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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.
Open the table of the exchange rates of the Indian rupee vis-à-vis other currencies in the handbook – use the table with the annual averages for the calendar year, not the financial year. Edit this template, and at the bottom of the table, update the values for the previous year.
De Facto Classification of Exchange Rate Arrangements, as of April 30, 2021, and Monetary Policy Frameworks [2]; Exchange rate arrangement (Number of countries) Exchange rate anchor
The British pound sterling holds a smaller but still notable portion of global reserves, typically around 4% to 5%. Several other currencies, such as the Swiss franc (CHF), Canadian dollar (CAD), and Australian dollar (AUD), also make up a small but significant portion of foreign reserves.
Retail customers will be charged, in the form of commission or otherwise, to cover the provider's costs and generate a profit. One form of charge is the use of an exchange rate that is less favourable than the wholesale spot rate. [8] The difference between retail buying and selling prices is referred to as the bid–ask spread.
The January 2019 article states that a Big Mac costs HK$20.00 in Hong Kong and US$5.58 in the United States. [25] The implied PPP exchange rate is 3.58 HK$ per US$. The difference between this and the actual exchange rate of 7.83 suggests that the Hong Kong dollar is 54.2% undervalued.
Another factor leading to devaluation was the drought of 1965/1966 which resulted in a sharp rise in prices. At the end of 1969, the Indian Rupee was trading at around 13 British pre-decimal pence (1s 1d), or Rs. 18 = £1. A decade later, by 1979, it was trading at around 6 British new pence (6p).
The British pound sterling, in particular, was poised to dislodge the Spanish dollar's hegemony as the rest of the world transitioned to the gold standard in the last quarter of the 19th century. At that point, the UK was the primary exporter of manufactured goods and services, and over 60% of world trade was invoiced in pounds sterling.