The exchange rate between the currencies of different nations keeps fluctuating as they are traded every day on the international foreign exchange (Forex) market. Over the past few months, the value of the Indian currency, the Rupee (₹) has depreciated noticeably against the Dollar ($). There are multiple factors that have led to the depreciation of the Rupee, but the major one is the Federal Reserve increasing interest rates in the US. Other contributing factors include the Russia-Ukraine conflict and the rising rates of inflation in India and other countries over the past few hours.
November 4, 2022: Dollar to INR Exchange Rate Today
At the time of writing this article on November 4, 2022, the rate of the Dollar to INR is ₹82.51 for $1. Just a few weeks ago, the rate of the Rupee against the Dollar had crossed its highest-ever exchange rate at more than ₹83. As the Fed increases interest rates in the United States to battle inflation, it directly affects the exchange rates for different currencies, including the Rupee. The value of many other countries' currencies has also gotten weaker in comparison to the value of the Dollar. Unstable economic conditions due to the long Covid-19 pandemic and as well as the going Russia-Ukraine war have also contributed to this phenomenon.
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Exchange Rates 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 4, 2022:
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Euro to INR: The rate of Euro to INR is 1 Euro for ₹80.63, as of November 4.
British Pound: The rate of British Pound to INR for 1 British Pound is ₹92.57, as of November 4.
Australian Dollar: The rate of Australian Dollar to INR for 1 Australian Dollar is ₹52.37, as of November 4.
Canadian Dollar: The rate of Canadian Dollar to INR for 1 Canadian Dollar is ₹60.43, as of November 4.
Singapore Dollar: The rate of Singapore Dollar to INR for 1 Singapore Dollar is ₹58.25, as of November 4.
Swiss Franc: The rate of Swiss Franc to INR for 1 Swiss Franc is ₹81.62, as of November 4.
Japanese Yen: The rate of Japaese Yen to INR for 1 Japanese Yen is ₹0.55, as of November 4.
Chinese Yuan: The rate of Chinese Yuan to INR for 1 Chinese Yuan is ₹11.36, as of November 4.
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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