» Welcome to Currency Converter Calculator      

Indian Rupee (INR) Exchange Rates on 19th March 2024 (19/03/2024)

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: 2024-03-19
Convert from Convert to 1 INR Conversion in currency Conversion
INR INR GBP GBP 0.0095 INR to GBP 105.5091 GBP to INR
INR INR BGN BGN 0.0217 INR to BGN 46.1142 BGN to INR
INR INR HRK HRK 0.083 INR to HRK 12.0501 HRK to INR
INR INR CZK CZK 0.2799 INR to CZK 3.5731 CZK to INR
INR INR DKK DKK 0.0827 INR to DKK 12.0936 DKK to INR
INR INR EEK EEK 0 INR to EEK 0 EEK to INR
INR INR HUF HUF 4.3798 INR to HUF 0.2283 HUF to INR
INR INR KZT KZT 5.4441 INR to KZT 0.1837 KZT to INR
INR INR LVL LVL 0.0073 INR to LVL 137.1049 LVL to INR
INR INR LTL LTL 0 INR to LTL 0 LTL to INR
INR INR MKD MKD 0.6824 INR to MKD 1.4655 MKD to INR
INR INR MDL MDL 0.2139 INR to MDL 4.6749 MDL to INR
INR INR NOK NOK 0.1286 INR to NOK 7.7765 NOK to INR
INR INR PLN PLN 0.0479 INR to PLN 20.8615 PLN to INR
INR INR RON RON 0.0551 INR to RON 18.1406 RON to INR
INR INR RUB RUB 1.1025 INR to RUB 0.9071 RUB to INR
INR INR SKK SKK 0 INR to SKK 0 SKK to INR
INR INR SEK SEK 0.1258 INR to SEK 7.9496 SEK to INR
INR INR CHF CHF 0.0107 INR to CHF 93.3892 CHF to INR
INR INR TRY TRY 0.3899 INR to TRY 2.5645 TRY to INR
INR INR UAH UAH 0.4717 INR to UAH 2.1202 UAH to INR
Updated: 2024-03-19
Convert from Convert to 1 INR Conversion in currency Conversion
INR INR ARS ARS 10.2745 INR to ARS 0.0973 ARS to INR
INR INR BOB BOB 0.0836 INR to BOB 11.9664 BOB to INR
INR INR BRL BRL 0.0606 INR to BRL 16.4888 BRL to INR
INR INR CAD CAD 0.0163 INR to CAD 61.2384 CAD to INR
INR INR KYD KYD 0.0101 INR to KYD 99.2046 KYD to INR
INR INR CLP CLP 11.4178 INR to CLP 0.0876 CLP to INR
INR INR COP COP 46.9007 INR to COP 0.0213 COP to INR
INR INR CRC CRC 6.154 INR to CRC 0.1625 CRC to INR
INR INR DOP DOP 0.7155 INR to DOP 1.3977 DOP to INR
INR INR SVC SVC 0.1058 INR to SVC 9.4484 SVC to INR
INR INR FJD FJD 0.0273 INR to FJD 36.5644 FJD to INR
INR INR HNL HNL 0.2987 INR to HNL 3.3479 HNL to INR
INR INR JMD JMD 1.8646 INR to JMD 0.5363 JMD to INR
INR INR MXN MXN 0.203 INR to MXN 4.925 MXN to INR
INR INR ANG ANG 0.0218 INR to ANG 45.883 ANG to INR
INR INR PYG PYG 88.2107 INR to PYG 0.0113 PYG to INR
INR INR PEN PEN 0.0446 INR to PEN 22.4255 PEN to INR
INR INR TTD TTD 0.082 INR to TTD 12.1906 TTD to INR
INR INR USD USD 0.0121 INR to USD 82.9333 USD to INR
INR INR UYU UYU 0.4646 INR to UYU 2.1523 UYU to INR
INR INR VEF VEF 43711.8346 INR to VEF 0 VEF to INR
Updated: 2024-03-19
Convert from Convert to 1 INR Conversion in currency Conversion
INR INR AUD AUD 0.0184 INR to AUD 54.2317 AUD to INR
INR INR BDT BDT 1.3273 INR to BDT 0.7534 BDT to INR
INR INR BND BND 0.0162 INR to BND 61.8309 BND to INR
INR INR CNY CNY 0.0868 INR to CNY 11.5207 CNY to INR
INR INR INR INR 1 INR to INR 1 INR to INR
INR INR IDR IDR 189.4294 INR to IDR 0.0053 IDR to INR
INR INR JPY JPY 1.8057 INR to JPY 0.5538 JPY to INR
INR INR MYR MYR 0.057 INR to MYR 17.5409 MYR to INR
INR INR MVR MVR 0.1858 INR to MVR 5.3835 MVR to INR
INR INR NPR NPR 1.6045 INR to NPR 0.6233 NPR to INR
INR INR NZD NZD 0.0199 INR to NZD 50.341 NZD to INR
INR INR PKR PKR 3.3825 INR to PKR 0.2956 PKR to INR
INR INR PGK PGK 0.0456 INR to PGK 21.9312 PGK to INR
INR INR PHP PHP 0.672 INR to PHP 1.488 PHP to INR
INR INR SCR SCR 0.1634 INR to SCR 6.1195 SCR to INR
INR INR SGD SGD 0.0162 INR to SGD 61.8863 SGD to INR
INR INR KRW KRW 16.1313 INR to KRW 0.062 KRW to INR
INR INR LKR LKR 3.685 INR to LKR 0.2714 LKR to INR
INR INR TWD TWD 0.3826 INR to TWD 2.6138 TWD to INR
INR INR THB THB 0.434 INR to THB 2.304 THB to INR
Updated: 2024-03-19
Convert from Convert to 1 INR Conversion in currency Conversion
INR INR BHD BHD 0.0045 INR to BHD 220.0888 BHD to INR
INR INR EGP EGP 0.568 INR to EGP 1.7605 EGP to INR
INR INR HKD HKD 0.0943 INR to HKD 10.6044 HKD to INR
INR INR ILS ILS 0.044 INR to ILS 22.708 ILS to INR
INR INR JOD JOD 0.0085 INR to JOD 116.9889 JOD to INR
INR INR KWD KWD 0.0037 INR to KWD 269.8505 KWD to INR
INR INR LBP LBP 1083.1462 INR to LBP 0.0009 LBP to INR
INR INR OMR OMR 0.0046 INR to OMR 215.4433 OMR to INR
INR INR QAR QAR 0.0439 INR to QAR 22.7792 QAR to INR
INR INR SAR SAR 0.0452 INR to SAR 22.1178 SAR to INR
INR INR AED AED 0.0443 INR to AED 22.5868 AED to INR
INR INR YER YER 3.0187 INR to YER 0.3313 YER to INR
Updated: 2024-03-19
Convert from Convert to 1 INR Conversion in currency Conversion
INR INR DZD DZD 1.621 INR to DZD 0.6169 DZD to INR
INR INR KES KES 1.6389 INR to KES 0.6102 KES to INR
INR INR MUR MUR 0.5543 INR to MUR 1.8041 MUR to INR
INR INR MAD MAD 0.1215 INR to MAD 8.2273 MAD to INR
INR INR NAD NAD 0.2287 INR to NAD 4.3718 NAD to INR
INR INR NIO NIO 0.4452 INR to NIO 2.2461 NIO to INR
INR INR NGN NGN 18.8733 INR to NGN 0.053 NGN to INR
INR INR SLL SLL 272.4174 INR to SLL 0.0037 SLL to INR
INR INR ZAR ZAR 0.2287 INR to ZAR 4.3726 ZAR to INR
INR INR TZS TZS 30.7717 INR to TZS 0.0325 TZS to INR
INR INR TND TND 0.0374 INR to TND 26.729 TND to INR
INR INR UGX UGX 46.9955 INR to UGX 0.0213 UGX to INR
INR INR XOF XOF 7.2774 INR to XOF 0.1374 XOF to INR
INR INR ZMK ZMK 108.5355 INR to ZMK 0.0092 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