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Indian Rupee (INR) Exchange Rates on 23rd January 2025 (23/01/2025)

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Exchange rates for Indian Rupee (INR)

Updated: 2025-01-23
Convert from Convert to 1 INR Conversion in currency Conversion
INR INR GBP GBP 0.0094 INR to GBP 106.4269 GBP to INR
INR INR BGN BGN 0.0218 INR to BGN 45.9681 BGN to INR
INR INR HRK HRK 0.0854 INR to HRK 11.707 HRK to INR
INR INR CZK CZK 0.2795 INR to CZK 3.5773 CZK to INR
INR INR DKK DKK 0.0829 INR to DKK 12.0572 DKK to INR
INR INR EEK EEK 0 INR to EEK 0 EEK to INR
INR INR HUF HUF 4.5674 INR to HUF 0.2189 HUF to INR
INR INR KZT KZT 6.0524 INR to KZT 0.1652 KZT to INR
INR INR LVL LVL 0.007 INR to LVL 142.8234 LVL to INR
INR INR LTL LTL 0 INR to LTL 0 LTL to INR
INR INR MKD MKD 0.6842 INR to MKD 1.4615 MKD to INR
INR INR MDL MDL 0.2167 INR to MDL 4.615 MDL to INR
INR INR NOK NOK 0.1305 INR to NOK 7.6602 NOK to INR
INR INR PLN PLN 0.0469 INR to PLN 21.3111 PLN to INR
INR INR RON RON 0.0553 INR to RON 18.0771 RON to INR
INR INR RUB RUB 1.1488 INR to RUB 0.8705 RUB to INR
INR INR SKK SKK 0 INR to SKK 0 SKK to INR
INR INR SEK SEK 0.1274 INR to SEK 7.8516 SEK to INR
INR INR CHF CHF 0.0105 INR to CHF 95.3344 CHF to INR
INR INR TRY TRY 0.4127 INR to TRY 2.4229 TRY to INR
INR INR UAH UAH 0.488 INR to UAH 2.0492 UAH to INR
Updated: 2025-01-23
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INR INR ARS ARS 12.1222 INR to ARS 0.0825 ARS to INR
INR INR BOB BOB 0.0803 INR to BOB 12.4559 BOB to INR
INR INR BRL BRL 0.0688 INR to BRL 14.5381 BRL to INR
INR INR CAD CAD 0.0167 INR to CAD 60.0371 CAD to INR
INR INR KYD KYD 0.0097 INR to KYD 103.2767 KYD to INR
INR INR CLP CLP 11.4745 INR to CLP 0.0871 CLP to INR
INR INR COP COP 49.3215 INR to COP 0.0203 COP to INR
INR INR CRC CRC 5.8433 INR to CRC 0.1711 CRC to INR
INR INR DOP DOP 0.7129 INR to DOP 1.4026 DOP to INR
INR INR SVC SVC 0.1017 INR to SVC 9.836 SVC to INR
INR INR FJD FJD 0.0268 INR to FJD 37.3461 FJD to INR
INR INR HNL HNL 0.2958 INR to HNL 3.3808 HNL to INR
INR INR JMD JMD 1.8231 INR to JMD 0.5485 JMD to INR
INR INR MXN MXN 0.2372 INR to MXN 4.2155 MXN to INR
INR INR ANG ANG 0.0209 INR to ANG 47.7556 ANG to INR
INR INR PYG PYG 91.8984 INR to PYG 0.0109 PYG to INR
INR INR PEN PEN 0.0433 INR to PEN 23.0752 PEN to INR
INR INR TTD TTD 0.0789 INR to TTD 12.6701 TTD to INR
INR INR USD USD 0.0116 INR to USD 86.3924 USD to INR
INR INR UYU UYU 0.5085 INR to UYU 1.9668 UYU to INR
INR INR VEF VEF 41442.4121 INR to VEF 0 VEF to INR
Updated: 2025-01-23
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INR INR AUD AUD 0.0184 INR to AUD 54.217 AUD to INR
INR INR BDT BDT 1.4169 INR to BDT 0.7058 BDT to INR
INR INR BND BND 0.0157 INR to BND 63.6049 BND to INR
INR INR CNY CNY 0.0843 INR to CNY 11.8674 CNY to INR
INR INR INR INR 1 INR to INR 1 INR to INR
INR INR IDR IDR 187.9778 INR to IDR 0.0053 IDR to INR
INR INR JPY JPY 1.8121 INR to JPY 0.5518 JPY to INR
INR INR MYR MYR 0.0514 INR to MYR 19.4424 MYR to INR
INR INR MVR MVR 0.1784 INR to MVR 5.6061 MVR to INR
INR INR NPR NPR 1.6072 INR to NPR 0.6222 NPR to INR
INR INR NZD NZD 0.0204 INR to NZD 48.9659 NZD to INR
INR INR PKR PKR 3.2398 INR to PKR 0.3087 PKR to INR
INR INR PGK PGK 0.0473 INR to PGK 21.1385 PGK to INR
INR INR PHP PHP 0.6782 INR to PHP 1.4744 PHP to INR
INR INR SCR SCR 0.165 INR to SCR 6.0615 SCR to INR
INR INR SGD SGD 0.0157 INR to SGD 63.7628 SGD to INR
INR INR KRW KRW 16.6202 INR to KRW 0.0602 KRW to INR
INR INR LKR LKR 3.4696 INR to LKR 0.2882 LKR to INR
INR INR TWD TWD 0.3788 INR to TWD 2.64 TWD to INR
INR INR THB THB 0.3927 INR to THB 2.5462 THB to INR
Updated: 2025-01-23
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INR INR BHD BHD 0.0044 INR to BHD 229.1886 BHD to INR
INR INR EGP EGP 0.5825 INR to EGP 1.7169 EGP to INR
INR INR HKD HKD 0.0902 INR to HKD 11.0916 HKD to INR
INR INR ILS ILS 0.0409 INR to ILS 24.4651 ILS to INR
INR INR JOD JOD 0.0082 INR to JOD 121.7824 JOD to INR
INR INR KWD KWD 0.0036 INR to KWD 280.2037 KWD to INR
INR INR LBP LBP 1040.4314 INR to LBP 0.001 LBP to INR
INR INR OMR OMR 0.0045 INR to OMR 224.4412 OMR to INR
INR INR QAR QAR 0.0424 INR to QAR 23.5823 QAR to INR
INR INR SAR SAR 0.0434 INR to SAR 23.0316 SAR to INR
INR INR AED AED 0.0425 INR to AED 23.5209 AED to INR
INR INR YER YER 2.8828 INR to YER 0.3469 YER to INR
Updated: 2025-01-23
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INR INR DZD DZD 1.5676 INR to DZD 0.6379 DZD to INR
INR INR KES KES 1.5058 INR to KES 0.6641 KES to INR
INR INR MUR MUR 0.5381 INR to MUR 1.8583 MUR to INR
INR INR MAD MAD 0.1159 INR to MAD 8.6257 MAD to INR
INR INR NAD NAD 0.2147 INR to NAD 4.6586 NAD to INR
INR INR NIO NIO 0.4276 INR to NIO 2.3388 NIO to INR
INR INR NGN NGN 18.0447 INR to NGN 0.0554 NGN to INR
INR INR SLL SLL 242.7241 INR to SLL 0.0041 SLL to INR
INR INR ZAR ZAR 0.2142 INR to ZAR 4.6692 ZAR to INR
INR INR TZS TZS 29.2271 INR to TZS 0.0342 TZS to INR
INR INR TND TND 0.0369 INR to TND 27.1169 TND to INR
INR INR UGX UGX 42.7561 INR to UGX 0.0234 UGX to INR
INR INR XOF XOF 7.298 INR to XOF 0.137 XOF to INR
INR INR ZMK ZMK 104.1897 INR to ZMK 0.0096 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

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