The exchange rates between the currencies of different nations keep changing as they traded on the foreign exchange market, which is also called the ‘Forex market'. Similarly, the exchange rate between the Rupee and the Dollar also keeps changing constantly based on various economic and other factors. Over the past year, the value of the Rupee has depreciated quite a bit against the Dollar. There are a variety of reasons that have led to this, but the primary one is the increase in interest rates by the Federal Reserve in the US. The ongoing Russia-Ukraine war and the rising inflation in many countries across the world have also been contributing factors.
November 18, 2022: Dollar to INR Exchange Rate Today
At the time of writing this article on November 18, 2022, the rate of Dollar to INR is ₹81.70 for $1. A few weeks ago in October 2022, the rate of the Rupee against the dollar had crossed its higher-ever exchange rate at more than ₹83 for $1. As the Federal Reserve in the US raises interest rates to suppress inflation, it has affected the exchange rates for different currencies worldwide. Not just the Rupee, but currencies of many other countries are getting weaker in comparison to the Dollar following basic supply and demand rules on the Forex market. Rising inflation worldwide and unstable economic conditions in many countries have also contributed to this. Financial experts say that if this trend continues, the value of the Rupee against the Dollar could depreciate even more in the near future, even going down to ₹84 or ₹85 for $1.
Exchange Rate Of Other Currencies Against The Rupee
Now that we've looked at the rates of the Rupee against the Dollar, let's also take a look at the exchange rate of other the Rupee against other major international currencies, as on November 18, 2022:
Euro to INR: The rate of Euro to INR is 1 Euro for ₹84.59, as of November 18, 2022.
British Pound: The rate of British Pound to INR for 1 British Pound is ₹97.17, as of November 18, 2022.
Australian Dollar: The rate of Australian Dollar to INR for 1 Australian Dollar is ₹54.72, as of November 18, 2022.
Canadian Dollar: The rate of Canadian Dollar to INR for 1 Canadian Dollar is ₹61.27, as of November 18, 2022.
Singapore Dollar: The rate of Singapore Dollar to INR for 1 Singapore Dollar is ₹59.43, as of November 18, 2022.
Swiss Franc: The rate of Swiss Franc to INR for 1 Swiss Franc is ₹85.73, as of November 18, 2022.
Japanese Yen: The rate of Japanese Yen to INR for 1 Japanese Yen is ₹0.58, as of November 18, 2022.
Chinese Yuan: The rate of Chinese Yuan to INR for 1 Chinese Yuan is ₹11.45, as of November 18, 2022.
Disclaimer: All of the exchange rates mentioned in the article have been recorded at the time of writing and are subject to change in the future.
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