Indian Rupee (INR) Exchange Rates on 18th April 2014 (18/04/2014)

Enter the amount you want to convert, select the second currency and hit 'Enter' or click outside the area.



Exchange rates for Indian Rupee (INR)

Updated: 2014-04-18
Convert from Convert to 1 INR Conversion in currency Conversion
INR GBP 0.0099 INR to GBP 101.1765 GBP to INR
INR BGN 0.0235 INR to BGN 42.5775 BGN to INR
INR HRK 0.0915 INR to HRK 10.9299 HRK to INR
INR CZK 0.3296 INR to CZK 3.0336 CZK to INR
INR DKK 0.0897 INR to DKK 11.1532 DKK to INR
INR EEK 0 INR to EEK 0 EEK to INR
INR HUF 3.6842 INR to HUF 0.2714 HUF to INR
INR KZT 3.0213 INR to KZT 0.331 KZT to INR
INR LVL 0.0084 INR to LVL 118.5638 LVL to INR
INR LTL 0.0415 INR to LTL 24.1185 LTL to INR
INR MKD 0.7389 INR to MKD 1.3534 MKD to INR
INR MDL 0.2214 INR to MDL 4.5172 MDL to INR
INR NOK 0.0993 INR to NOK 10.0725 NOK to INR
INR PLN 0.0503 INR to PLN 19.8989 PLN to INR
INR RON 0.0536 INR to RON 18.6662 RON to INR
INR RUB 0.5906 INR to RUB 1.6932 RUB to INR
INR SKK 0 INR to SKK 0 SKK to INR
INR SEK 0.1095 INR to SEK 9.1322 SEK to INR
INR CHF 0.0146 INR to CHF 68.2831 CHF to INR
INR TRY 0.0354 INR to TRY 28.2645 TRY to INR
INR UAH 0.1875 INR to UAH 5.3327 UAH to INR
Updated: 2014-04-18
Convert from Convert to 1 INR Conversion in currency Conversion
INR ARS 0.1328 INR to ARS 7.5317 ARS to INR
INR BOB 0.1147 INR to BOB 8.7207 BOB to INR
INR BRL 0.0371 INR to BRL 26.9354 BRL to INR
INR CAD 0.0183 INR to CAD 54.7221 CAD to INR
INR KYD 0.0136 INR to KYD 73.4876 KYD to INR
INR CLP 9.245 INR to CLP 0.1082 CLP to INR
INR COP 32.0197 INR to COP 0.0312 COP to INR
INR CRC 9.1188 INR to CRC 0.1097 CRC to INR
INR DOP 0.7132 INR to DOP 1.4022 DOP to INR
INR SVC 0.1452 INR to SVC 6.8869 SVC to INR
INR FJD 0.0304 INR to FJD 32.8718 FJD to INR
INR HNL 0.3171 INR to HNL 3.1533 HNL to INR
INR JMD 1.8198 INR to JMD 0.5495 JMD to INR
INR MXN 0.2166 INR to MXN 4.6159 MXN to INR
INR ANG 0.0294 INR to ANG 34.0451 ANG to INR
INR PYG 73.7798 INR to PYG 0.0136 PYG to INR
INR PEN 0.046 INR to PEN 21.7349 PEN to INR
INR TTD 0.1073 INR to TTD 9.3212 TTD to INR
INR USD 0.0166 INR to USD 60.2599 USD to INR
INR UYU 0.3805 INR to UYU 2.628 UYU to INR
INR VEF 0.1044 INR to VEF 9.5771 VEF to INR
Updated: 2014-04-18
Convert from Convert to 1 INR Conversion in currency Conversion
INR AUD 0.0178 INR to AUD 56.2525 AUD to INR
INR BDT 1.2886 INR to BDT 0.776 BDT to INR
INR BND 0.0208 INR to BND 48.1271 BND to INR
INR CNY 0.1033 INR to CNY 9.6822 CNY to INR
INR INR 1 INR to INR 1 INR to INR
INR IDR 189.5096 INR to IDR 0.0053 IDR to INR
INR JPY 1.6993 INR to JPY 0.5885 JPY to INR
INR MYR 0.0538 INR to MYR 18.5959 MYR to INR
INR MVR 0.2595 INR to MVR 3.8529 MVR to INR
INR NPR 1.6009 INR to NPR 0.6247 NPR to INR
INR NZD 0.0193 INR to NZD 51.7392 NZD to INR
INR PKR 1.6188 INR to PKR 0.6177 PKR to INR
INR PGK 0.0445 INR to PGK 22.4468 PGK to INR
INR PHP 0.735 INR to PHP 1.3606 PHP to INR
INR SCR 0.2041 INR to SCR 4.8992 SCR to INR
INR SGD 0.0208 INR to SGD 48.1308 SGD to INR
INR KRW 17.2295 INR to KRW 0.058 KRW to INR
INR LKR 2.1674 INR to LKR 0.4614 LKR to INR
INR TWD 0.5008 INR to TWD 1.9968 TWD to INR
INR THB 0.5341 INR to THB 1.8723 THB to INR
Updated: 2014-04-18
Convert from Convert to 1 INR Conversion in currency Conversion
INR BHD 0.0063 INR to BHD 159.8406 BHD to INR
INR EGP 0.116 INR to EGP 8.6208 EGP to INR
INR HKD 0.1287 INR to HKD 7.7711 HKD to INR
INR ILS 0.0578 INR to ILS 17.3101 ILS to INR
INR JOD 0.0117 INR to JOD 85.1248 JOD to INR
INR KWD 0.0047 INR to KWD 214.3336 KWD to INR
INR LBP 25.0352 INR to LBP 0.0399 LBP to INR
INR OMR 0.0064 INR to OMR 156.5193 OMR to INR
INR QAR 0.0604 INR to QAR 16.5504 QAR to INR
INR SAR 0.0622 INR to SAR 16.068 SAR to INR
INR AED 0.061 INR to AED 16.4062 AED to INR
INR YER 3.568 INR to YER 0.2803 YER to INR
Updated: 2014-04-18
Convert from Convert to 1 INR Conversion in currency Conversion
INR DZD 1.3041 INR to DZD 0.7668 DZD to INR
INR KES 1.4396 INR to KES 0.6946 KES to INR
INR MUR 0.4995 INR to MUR 2.002 MUR to INR
INR MAD 0.1351 INR to MAD 7.4032 MAD to INR
INR NAD 0.1741 INR to NAD 5.7447 NAD to INR
INR NIO 0.4227 INR to NIO 2.3659 NIO to INR
INR NGN 2.6928 INR to NGN 0.3714 NGN to INR
INR SLL 71.8228 INR to SLL 0.0139 SLL to INR
INR ZAR 0.1741 INR to ZAR 5.7441 ZAR to INR
INR TZS 27.1324 INR to TZS 0.0369 TZS to INR
INR TND 0.0264 INR to TND 37.8777 TND to INR
INR UGX 41.6528 INR to UGX 0.024 UGX to INR
INR XOF 7.8885 INR to XOF 0.1268 XOF to INR
INR ZMK 0 INR to ZMK 0 ZMK to INR



Indian Rupee (INR)

Sign
1 Rupee is subdivided into 100 paise.

INR is the currency code for the Indian rupee which is represented with the accounting symbol ₹. The monetary policy and issuance of the rupee is controlled by the Reserve Bank of India (RBI) and the rupee is the official currency of the Republic of India. The rupee is the 15th most traded currency by value and it is not widely held by other countries as a reserve currency. The RBI holds over $302.1 billion USD in reserves and was first established in 1934.

Coins used:
- frequently used: ₹1, ₹2, ₹5, 10p, 20p, 50p, 1, 2
- rarely used: ₹10, ₹20, ₹25, ₹50

Banknotes used:
- frequently used: ₹5, ₹10, ₹20, ₹50, ₹100, ₹500, ₹1000
- rarely used: ₹1, ₹2

Central Bank
Reserve Bank of India
http://www.rbi.org.in
While established as a privately owned central bank it was nationalized in 1949 and subjected to a governing organization of 20 Board of Directors, a Governor, four Deputy governors, a single representative from the India Ministry of Finance, ten additional directors placed by the Government each representing different economic issues and interests, four directors representing four local directorates within Kolkata, New Delhi, Chennai, and Mumbai and an additional plethora of local boards from different regions overseeing smaller localized banks and finance issues.

This large structure was first established in 1935 with the mandate of monetary stability, currency control and issuance, as well as maintaining reserves, operating currency and credit for the good of the Republic of India. The RBI also served as the central bank for Pakistan until 1948 when the State Bank of Pakistan was established. In the 1950's the Government directed the RBI to focus INR policy toward agricultural development and the government nationalized all commercial banks under a central planning system. In response to failing banks during this decade the RBI formed a deposit insurance system, and the RBI played a central role in further nationalization and advocating a dispersed development bank system. Over the following decades the RBI itself controlled the INR and underlying finance economy through a series of strict monetary policies, nationalizations, and central control directives aimed at economic growth.

By 1991 these plans came to a halt and the INR went through devaluation where it lost 18% of value against the USD. By 1993 new guidelines and finance structures were developed, including a private banking system, deregulation of the financial markets, property markets, and a decrease of central government economic control. At the same time the National Stock Exchange of India was established and began trading which allowed RBI banks and private banks increased access to capital markets, thus supporting valuations and the structure of the INR as a currency. In its current state the RBI has as its central mandate price stability as well as ensuring credit availability to business and sectors of the economy that are contributing productively to GDP.

The value of the INR has an interesting story as it was originally held to a silver standard while at the same time most world banks were one version or another of the gold standard. This became a problem when in the 19th century the price of silver dropped significantly compared to gold because large deposits of silver were being found in both the United States and Europe. This in effect devalued the INR significantly relatively to other world currencies pegged to gold, a single event where had it been the reverse and gold dropped below silver, would have significantly changed the landscape of the economy of India. But as it was, the drop in silver without the corresponding drop in gold devalued the INR significantly making it difficult for India to purchase goods in world markets. This silver standard was adhered to by the RBI in spite of many efforts by outside forces to convert the INR to a gold based currency. Over time all efforts at this conversion failed and the INR remained a silver standard currency until the late 20th century when the INR became a floating currency pegged to a basket of goods and currencies.

While the INR does have this exchange rate based on a basket of goods and currencies, its market value in practice is oftentimes tied directly to the USD/INR currency pair, giving the market a real time exchange rate independent of the RBI controlled rate. This currency pair is widely used and as a result has developed into a type of managed float for the INR relative to the USD. This occurs with other major currencies, but the RBI has proactively attempted at times to separate the INR from the USD, with each attempt failing due to the underlying mandate of the RBI as price stability and low volatility, not the way in which the INR interacts with other currencies.

For many years the differentiation in parsing the circulated INR was not consistent with the decimal system in use by most major currencies. This issue was compounded by the fact that in India the names for different numbers within the decimal system are not the same as in English and other languages nor do they take the same increasingly logical progression using standardized decimal terminology. This has led many currency and business traders dealing with the INR with convoluted contracts where presumptions as to definitions have led to countless disagreements. While the decimalization of the INR occurred in 1957, the language and writing differences remain difficult for the uninformed to understand. In India any number larger than one hundred thousand rupee are referred to as lakhs and crores where one lakh is equal to one hundred thousand and one crore is equal to ten million. This confusion is compounded with each comma in the numbering system not being a factor of three, but a factor of that numerical category. This particular decimalization should be studied by anyone trading the INR or doing international trade using the INR.

This problem of numeric consistency, decimalization, the RBI attempts at control of exchange rates, and the Government if India's insistence on not fully letting go of a centrally planned and controlled economy has inhibited the growth and acceptance of the INR worldwide. These policies and central government attempts at intervention are reducing with each successive year as the government accepts the efficiencies of the open market and further releases their growth inhibiting central planning and control mechanisms. Over time, this further adoption of the free market will likely propel the INR to increasingly important levels of importance in worldwide markets as the underlying productivity of the Indian economy is allowed to continue its solid path of growth under the freedom of increasingly free markets.

Other References
Wikipedia article on Indian Rupee
XE.com Live Currency Converter for INR

Have more info on the Indian Rupee? Please contact us
If you want to link to this page, please use the code provided below.
Page created by