Convert 1000 Indian Rupee (INR) to US Dollar (USD)
Exchange rates used for currency conversion updated on 21st May 2012 ( 21/05/2012 )
Below you will find the latest exchange rate for exchanging Indian Rupee (INR) to US Dollar (USD) , a table containing most common Indian Rupee / US Dollar conversions and a INR/USD chart with the pair's evolution.
The Indian Rupee (INR) to US Dollar (USD) rates are updated every minute using our advanced technology for live forex currency conversion.
*Disclaimer: AVERAGE intraday quotes were used for this conversion. The exchange rate the system calculated between Indian Rupee and US Dollar on 21/05/2012 is 1 INR = 0.0182 USD
Under the monetary policy of the Reserve Bank of India (RBI) the INR, Indian rupee, having once been held back by a centrally planned economy it is increasing its presence in world currency markets as the central planning and controls are released and the Indian economy is released, embracing the free markets. The INR is a floats against a basket of goods and other currencies and it is increasing in worldwide importance as the underlying economy grows and the RBI continues to focus on price stability and the general well being of the country.
About US Dollar (USD)
The privately owned and government sanctioned United States Federal Reserve Bank manages the monetary policy for the United States dollar (USD). The USD is the the worlds most widely held reserve currency and the most traded currency in world currency trading markets. The USD is official currency in 14 countries and the unofficial or de facto currency in 37 others. The US dollar is the second largest currency in circulation having been surpassed by the euro. The USD is a floating fiat currency.