Indian Currency Exchange Rate: USD to INR Conversion

The Indian Rupee (INR) is the official currency of India, and its exchange rate with other major currencies, such as the US Dollar (USD), is a key factor in international trade and finance. Understanding the factors that influence the INR exchange rate and how to convert between INR and USD is essential for anyone dealing with these currencies.

What is the Indian Rupee (INR)?

The Indian Rupee (INR) is the official currency of India, with the symbol ₹ and the currency code INR. It is issued and managed by the Reserve Bank of India, the country’s central bank. The INR is divided into 100 paise, although coins of smaller denominations are no longer in circulation.

India’s economy is one of the largest in the world, and the INR plays a significant role in international trade and finance. The exchange rate of the INR against other currencies, particularly the USD, is closely watched by investors, traders, and policymakers.

Factors Affecting the Indian Rupee Exchange Rate

Several factors can influence the exchange rate of the Indian Rupee against other currencies, such as:

Economic growth and stability: A strong and growing Indian economy generally leads to a stronger INR, while economic instability or slowdown can weaken the currency.
Inflation rates: Higher inflation in India compared to other countries can lead to a depreciation of the INR, as it reduces the purchasing power of the currency.
Interest rates: Higher interest rates in India relative to other countries can attract foreign investment, leading to an appreciation of the INR.
Political stability: Political instability or uncertainty in India can lead to a weaker INR, as investors may be cautious about investing in the country.

USD to INR Conversion: Current Rates

When converting from USD to INR, it’s essential to use up-to-date exchange rates to ensure accuracy. As of June 19, 2024, the exchange rate is approximately:

1 USD = 83.4313 INR
1 INR = 0.0119859 USD

Here are some examples of USD to INR conversions:

USD	INR
5	417.157
10	834.313
50	4,171.565
100	8,343.130

Xe’s Mid-Market Exchange Rate for USD to INR

Xe, a popular currency exchange platform, provides a mid-market exchange rate for USD to INR conversions. The mid-market rate is the average of the buy and sell rates from global currency markets, and it is considered the fairest exchange rate available.

As of June 19, 2024, Xe’s mid-market exchange rate for USD to INR is 1 USD = 83.43 INR. This rate is used for informational purposes only and may differ slightly from the actual conversion rate.

Historical USD to INR Exchange Rates

Understanding historical exchange rates can help you identify trends and make informed decisions when converting between USD and INR. Here are some key statistics for the USD to INR exchange rate over the past 30 and 90 days:

Period	High	Low	Average	Volatility
Last 30 Days	83.628	83.040	83.381	0.18%
Last 90 Days	83.665	83.040	83.399	0.13%

Using Xe for USD to INR Conversion

Xe is a trusted platform for currency conversions, offering a range of tools and services to help users convert between USD and INR accurately and efficiently.

Xe Currency Converter Features

The Xe Currency Converter offers several features to make USD to INR conversions easy and convenient:

Live exchange rates: Get up-to-date exchange rates for accurate conversions.
Historical rate charts: View and analyze historical exchange rate data to identify trends and make informed decisions.
Rate alerts: Set up personalized rate alerts to stay informed about significant changes in the USD to INR exchange rate.
Multi-currency support: Convert between INR and other popular currencies, such as GBP, EUR, AUD, CAD, JPY, and NZD.

Xe Money Transfer Services for Indian Rupee

In addition to its currency converter, Xe offers international money transfer services, allowing users to send money to India securely and efficiently. Some key features of Xe’s money transfer services include:

Competitive exchange rates: Get access to competitive USD to INR exchange rates when sending money to India.
Multiple payment options: Choose from various payment methods, such as bank transfer, credit card, or debit card.
Fast and secure transfers: Enjoy quick and secure money transfers to India, with funds usually arriving within 1-4 business days.
Customer support: Get assistance from Xe’s knowledgeable customer support team for any questions or concerns related to your money transfer.

Comparing Xe and Wise for USD to INR Conversion

Wise (formerly TransferWise) is another popular platform for currency conversions and international money transfers. When considering USD to INR conversions, it’s essential to compare the services and rates offered by Xe and Wise.

Wise’s Real Exchange Rates for USD to INR

Wise prides itself on offering real exchange rates without hidden fees. As of June 19, 2024, Wise’s exchange rate for USD to INR is 1 USD = ₹83.43 INR, which is similar to Xe’s mid-market rate.

Wise also provides the INR to USD conversion rate: 1 INR = 0.01199 USD. This transparency in exchange rates allows users to make informed decisions when converting between USD and INR.

Wise vs Banks: USD to INR Exchange Rates

When comparing Wise’s exchange rates to those offered by traditional banks, Wise often comes out ahead. Banks typically add hidden fees and markups to their exchange rates, resulting in less favorable conversions for customers.

By using Wise for USD to INR conversions and transfers, users can take advantage of real exchange rates and transparent fees, potentially saving money compared to using traditional banking services.

See also:

Indian Currency Exchange Rate: USD to INR Conversion – Xe

Indian Currency Exchange Rate: USD to INR Conversion – Xe