» Welcome to Currency Converter Calculator      

Indian Rupee (INR) Exchange Rates on 23rd April 2024 (23/04/2024)

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: 2024-04-23
Convert from Convert to 1 INR Conversion in currency Conversion
INR INR GBP GBP 0.0097 INR to GBP 102.9191 GBP to INR
INR INR BGN BGN 0.022 INR to BGN 45.4187 BGN to INR
INR INR HRK HRK 0.085 INR to HRK 11.7707 HRK to INR
INR INR CZK CZK 0.2846 INR to CZK 3.5137 CZK to INR
INR INR DKK DKK 0.084 INR to DKK 11.9021 DKK to INR
INR INR EEK EEK 0 INR to EEK 0 EEK to INR
INR INR HUF HUF 4.4397 INR to HUF 0.2252 HUF to INR
INR INR KZT KZT 5.3438 INR to KZT 0.1871 KZT to INR
INR INR LVL LVL 0.0073 INR to LVL 137.7751 LVL to INR
INR INR LTL LTL 0 INR to LTL 0 LTL to INR
INR INR MKD MKD 0.6932 INR to MKD 1.4426 MKD to INR
INR INR MDL MDL 0.214 INR to MDL 4.6725 MDL to INR
INR INR NOK NOK 0.1318 INR to NOK 7.587 NOK to INR
INR INR PLN PLN 0.0486 INR to PLN 20.5726 PLN to INR
INR INR RON RON 0.056 INR to RON 17.8467 RON to INR
INR INR RUB RUB 1.1163 INR to RUB 0.8958 RUB to INR
INR INR SKK SKK 0 INR to SKK 0 SKK to INR
INR INR SEK SEK 0.1305 INR to SEK 7.66 SEK to INR
INR INR CHF CHF 0.0109 INR to CHF 91.3771 CHF to INR
INR INR TRY TRY 0.3916 INR to TRY 2.5536 TRY to INR
INR INR UAH UAH 0.4767 INR to UAH 2.0976 UAH to INR
Updated: 2024-04-23
Convert from Convert to 1 INR Conversion in currency Conversion
INR INR ARS ARS 10.4663 INR to ARS 0.0955 ARS to INR
INR INR BOB BOB 0.0831 INR to BOB 12.0267 BOB to INR
INR INR BRL BRL 0.062 INR to BRL 16.1284 BRL to INR
INR INR CAD CAD 0.0164 INR to CAD 60.8282 CAD to INR
INR INR KYD KYD 0.01 INR to KYD 100.0789 KYD to INR
INR INR CLP CLP 11.4308 INR to CLP 0.0875 CLP to INR
INR INR COP COP 46.9362 INR to COP 0.0213 COP to INR
INR INR CRC CRC 6.0014 INR to CRC 0.1666 CRC to INR
INR INR DOP DOP 0.7073 INR to DOP 1.4138 DOP to INR
INR INR SVC SVC 0.1049 INR to SVC 9.532 SVC to INR
INR INR FJD FJD 0.0276 INR to FJD 36.2596 FJD to INR
INR INR HNL HNL 0.296 INR to HNL 3.3785 HNL to INR
INR INR JMD JMD 1.867 INR to JMD 0.5356 JMD to INR
INR INR MXN MXN 0.2054 INR to MXN 4.868 MXN to INR
INR INR ANG ANG 0.0216 INR to ANG 46.2769 ANG to INR
INR INR PYG PYG 88.8451 INR to PYG 0.0113 PYG to INR
INR INR PEN PEN 0.0442 INR to PEN 22.6338 PEN to INR
INR INR TTD TTD 0.0813 INR to TTD 12.3033 TTD to INR
INR INR USD USD 0.012 INR to USD 83.3388 USD to INR
INR INR UYU UYU 0.4619 INR to UYU 2.165 UYU to INR
INR INR VEF VEF 43468.9812 INR to VEF 0 VEF to INR
Updated: 2024-04-23
Convert from Convert to 1 INR Conversion in currency Conversion
INR INR AUD AUD 0.0186 INR to AUD 53.8105 AUD to INR
INR INR BDT BDT 1.3159 INR to BDT 0.7599 BDT to INR
INR INR BND BND 0.0163 INR to BND 61.2069 BND to INR
INR INR CNY CNY 0.0869 INR to CNY 11.5032 CNY to INR
INR INR INR INR 1 INR to INR 1 INR to INR
INR INR IDR IDR 194.8006 INR to IDR 0.0051 IDR to INR
INR INR JPY JPY 1.8568 INR to JPY 0.5386 JPY to INR
INR INR MYR MYR 0.0573 INR to MYR 17.4384 MYR to INR
INR INR MVR MVR 0.1855 INR to MVR 5.3905 MVR to INR
INR INR NPR NPR 1.5992 INR to NPR 0.6253 NPR to INR
INR INR NZD NZD 0.0203 INR to NZD 49.3205 NZD to INR
INR INR PKR PKR 3.3368 INR to PKR 0.2997 PKR to INR
INR INR PGK PGK 0.0456 INR to PGK 21.9454 PGK to INR
INR INR PHP PHP 0.6892 INR to PHP 1.451 PHP to INR
INR INR SCR SCR 0.1636 INR to SCR 6.1107 SCR to INR
INR INR SGD SGD 0.0163 INR to SGD 61.2255 SGD to INR
INR INR KRW KRW 16.528 INR to KRW 0.0605 KRW to INR
INR INR LKR LKR 3.6023 INR to LKR 0.2776 LKR to INR
INR INR TWD TWD 0.3916 INR to TWD 2.5538 TWD to INR
INR INR THB THB 0.4441 INR to THB 2.2519 THB to INR
Updated: 2024-04-23
Convert from Convert to 1 INR Conversion in currency Conversion
INR INR BHD BHD 0.0045 INR to BHD 221.1021 BHD to INR
INR INR EGP EGP 0.578 INR to EGP 1.7302 EGP to INR
INR INR HKD HKD 0.094 INR to HKD 10.6348 HKD to INR
INR INR ILS ILS 0.0453 INR to ILS 22.0632 ILS to INR
INR INR JOD JOD 0.0085 INR to JOD 117.5771 JOD to INR
INR INR KWD KWD 0.0037 INR to KWD 270.343 KWD to INR
INR INR LBP LBP 1073.6967 INR to LBP 0.0009 LBP to INR
INR INR OMR OMR 0.0046 INR to OMR 216.4828 OMR to INR
INR INR QAR QAR 0.0437 INR to QAR 22.8915 QAR to INR
INR INR SAR SAR 0.045 INR to SAR 22.2184 SAR to INR
INR INR AED AED 0.0441 INR to AED 22.6914 AED to INR
INR INR YER YER 3.0043 INR to YER 0.3329 YER to INR
Updated: 2024-04-23
Convert from Convert to 1 INR Conversion in currency Conversion
INR INR DZD DZD 1.6148 INR to DZD 0.6193 DZD to INR
INR INR KES KES 1.6067 INR to KES 0.6224 KES to INR
INR INR MUR MUR 0.5583 INR to MUR 1.7911 MUR to INR
INR INR MAD MAD 0.1216 INR to MAD 8.2246 MAD to INR
INR INR NAD NAD 0.23 INR to NAD 4.3474 NAD to INR
INR INR NIO NIO 0.4413 INR to NIO 2.2661 NIO to INR
INR INR NGN NGN 14.7885 INR to NGN 0.0676 NGN to INR
INR INR SLL SLL 251.6184 INR to SLL 0.004 SLL to INR
INR INR ZAR ZAR 0.2302 INR to ZAR 4.3448 ZAR to INR
INR INR TZS TZS 31.126 INR to TZS 0.0321 TZS to INR
INR INR TND TND 0.0379 INR to TND 26.4151 TND to INR
INR INR UGX UGX 45.7393 INR to UGX 0.0219 UGX to INR
INR INR XOF XOF 7.3845 INR to XOF 0.1354 XOF to INR
INR INR ZMK ZMK 108.007 INR to ZMK 0.0093 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

Have more info on the Indian Rupee? Please contact us