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As of 2022, the current exchange rate for 1 USD to INR is approximately 74.8. This rate is subject to fluctuations based on market demand and economic factors.
The exchange rate has been steadily increasing over the past few years, with a significant jump in 2020 due to the COVID-19 pandemic.
USD to INR Exchange Rates
The USD to INR exchange rate in 2022 was quite volatile, with the highest level reaching 83.9615 on December 26, 2022, and the lowest level at 73.6881 on January 11, 2022.
The average exchange rate for 2022 was 78.6081, which is a significant point to note. The Indian Rupee depreciated against the US Dollar from 2013 to 2022, influenced by India's large trade deficits and global geopolitical uncertainty.
The exchange rate ended 2022 at INR 82.14 per USD, compared to the end-2021 value of INR 75.86 per USD. This trend was not unique to India, as many countries saw their currencies depreciate against the US Dollar in 2022.
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Here's a quick look at the USD to INR exchange rate for 2022:
The depreciation of the Indian Rupee was mainly due to the increase in interest rates by the Federal Reserve in the United States to beat inflation. This had a ripple effect on many other global currencies, leading to their weakening against the US Dollar.
Current Exchange Rate
As of November 28, 2022, the exchange rate of 1 USD to INR is ₹81.60.
The Indian rupee depreciated against the US dollar from 2013 to 2022, ending 2022 at INR 82.14 per USD. This trend was influenced by India's large trade deficits, global geopolitical uncertainty, and Federal Reserve monetary tightening.
The exchange rate of the rupee against the dollar had crossed its highest-ever exchange rate at more than ₹83 for $1 just a few weeks prior to November 28, 2022. Many financial experts predict that if the value of the rupee against the dollar keeps depreciating at the same rate, it could go down to ₹84 or even ₹85 for $1.
The value of the dollar has skyrocketed in the past few months compared to the value of other countries' currencies due to the unstable economic environment, rising interest rates in the United States by the Fed, and rising inflation across the world. This has led to the weakening of many other global currencies against the US dollar.
As of November 28, 2022, the exchange rate of the Euro to INR is 1 Euro for ₹85.45. The rate of the British Pound to INR for 1 British Pound is ₹98.71, the Australian Dollar to INR for 1 Australian Dollar is ₹54.76, and the Canadian Dollar to INR for 1 Canadian Dollar is ₹60.76.
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India Exchange Rates
The Indian rupee had a tumultuous year in 2022, with significant fluctuations against the US dollar. The highest level of 2022 was 83.9615, reached on 26/12/2022.
The Indian rupee depreciated against the US dollar from 2013 to 2022, influenced by India's large trade deficits, global geopolitical uncertainty, and Federal Reserve monetary tightening. The exchange rate ended 2022 at INR 82.14 per USD.
On November 7, 2022, the USD to INR exchange rate was ₹82.29 for $1, with the highest-ever USD to INR exchange rate of ₹83 for $1 seen just a few weeks prior. The depreciating value of the Indian Rupee is mainly due to the increase in the interest rates by the Federal Reserve to beat inflation in the United States.
The exchange rate of the Indian rupee against other major international currencies on November 7, 2022, was as follows:
- Euro to INR: 1 Euro equals ₹81.76.
- British Pound to INR: 1 British Pound is equal to ₹93.06.
- Australian Dollar to INR: The exchange rate of 1 Australian Dollar to INR is ₹52.80.
- Canadian Dollar to INR: 1 Canadian Dollar is equal to ₹60.77.
- Singapore Dollar to INR: 1 Singapore Dollar equals ₹58.41.
- Swiss Franc to INR: The exchange rate of 1 Swiss Franc to INR is ₹82.69.
- Japanese Yen to INR: 1 Japanese Yen equals to ₹0.56.
- Chinese Yuan to INR: The exchange rate of 1 Chinese Yuan to INR is ₹11.35.
By November 28, 2022, the rate of Dollar to INR had dropped to ₹81.60 for $1, but many financial experts predicted it could go down to ₹84 or even ₹85 for $1 if the value of the Rupee against the dollar continued to depreciate at the same rate.
USD to INR Exchange Rate
The USD to INR exchange rate in 2022 was quite volatile. The highest level of 2022 was 83.9615, reached on 26/12/2022.
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In 2022, the USD/INR rate increased by +11.22%, meaning the US Dollar increased in value compared to the Indian Rupee. This is a significant change, and it's essential to keep an eye on exchange rates when traveling or doing business.
The Indian rupee depreciated against the US dollar from 2013 to 2022, influenced by India's large trade deficits, global geopolitical uncertainty, and Federal Reserve monetary tightening. The exchange rate ended 2022 at INR 82.14 per USD.
The value of the Indian Rupee against the Dollar had crossed its highest-ever exchange rate at more than ₹83 for $1 in November 2022. This depreciation of the currency is not just happening in India but across many countries in the world.
As of November 28, 2022, the rate of Dollar to INR was ₹81.60 for $1.
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Sources
- https://www.poundsterlinglive.com/history/USD-INR-2022
- https://www.exchange-rates.org/exchange-rate-history/usd-inr-2022
- https://www.focus-economics.com/country-indicator/india/exchange-rate/
- https://www.ndtvprofit.com/markets/pfx-dollar-to-inr-exchange-rate-today-november-7-2022
- https://www.ndtvprofit.com/business/pfx-dollar-to-inr-exchange-rate-today-november-28-2022
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