U.S. dollar to Indian rupee (USD-INR) - 10 Year History
The below table shows the historic variation in the USD/INR exchange rate over the last 10 years. The percentage change is the difference from the date shown to present. This lets you decide if the current rate is in your favour.
21 Jul 2018
14 Jul 2018
21 Jun 2018
22 Jan 2018
21 Jul 2017
21 Jul 2016
22 Jul 2013
23 Jul 2008
The three things you need in order to get a good USD to INR exchange rate
Know the latest USD/INR market mid-rate.
The closer your final exchange rate is to this real market rate the better deal you are getting.
You should also judge how the current rate compares to the historic rate over the past 10 years.
Compare your Bank's transaction costs to several licensed FX providers, remember to compare the exchange rate margins as well as the various types of fees.
We make that easy to do with our calculators for
Transaction Costs - Margins and Fees for USD/INR Transfers and Currency Exchange
The transaction margin from the mid-rate you will be charged by your bank or foreign exchange provider plus any fixed or percentage fees. These margins and fees will vary significantly for International Money Transfers and Travel Money transactions.
You can see a sample of the margins from mid-rate in the table below which shows an example of the costs charged by FX specialist and the average bank rate when sending money transfers from USD to INR.
Book & track your foreign transfers online (24/7) with industry best rates for all your deals - not just the first one! Lock in exchange rates with Spot & Forward Deals. BestExchangeRates users get the transfer fees waived.
The below table shows an example of the margins and possible savings when you order travel money online with a currency specialist versus the average bank, kiosk or post office rate to buy foreign cash.
Travel Money Exchange Rates Compared
Buying INR Cash with USD 1,000
Bank Rates - Average
This is the average USD to INR Buy Foreign Cash exchange rate from multiple banks, exchange kiosks and post-offices, available over the counter and via the internet.
Receive: ₹59,549 INR
Exchange Rate: 60.15 Fees: USD 10 (1%)
Total Cost : 13.37% (from mid-rate: 68.7427)
Amount of money that could be received by your currency exchange at rate USD/INR=60.15 and inclusive of the fee of USD 10 (1%).
Free Home Delivery when you Buy Online Travel Money & Cards with $0 commission and great exchange rates only available from Travelex Online. Zero cost for Home Delivery or pickup your foreign cash at your local Travelex store or at the airport on departure day. * Home deliveries can only be made to the registered billing address of your chosen payment method.
Getting a good market rate is mainly about timing however the transaction margin
you end up being charged can be considerably reduced by around a few percent (of total amount being exchanged) for
travel money and possibly over 5% to 6% when sending money.
The exact potential savings depends on the currencies being exchanged and the amount
you are transferring and if you are willing to shop around.
Why can't I just get the same USD/INR market rate I see on Google or in the Media?
The USD/INR mid-rate is the rate you will see
Quoted on Google
or the News, nobody except the largest banks and businesses can get exchange rates close to this mid-rate. It is actually just the theoretical half-way point (hence mid-rate) between
the last rate at which the USD / INR was traded (bought or sold) in the international markets.
When you look up the current U.S. dollar to Indian rupee exchange rate on the web the figure you find quoted on sites like google or mentioned on TV is commonly referred to as the mid-market rate.
Getting a great USD to INR mid-market rate is all about timing, so unless you
are able to wait, watch and time the market this is largely beyond your control.
This rate will go up and down with varying amounts of volatility depending on the currency pair.
This mid-market rate is really only a reference and is just the starting point for calculating the actual rate you will
get for your transaction, luckily we can also use this same rate to determine how good a deal a rate that a provider offers you actually is.
You can use our USD to INR currency converter to calculate equivalent amounts in each currency using the latest mid-market exchange rates.
Then choose your transaction type for specific U.S. dollar cross rates and reviews of leading foreign exchange providers versus the Banks.
Currency News, Research and Forecasts for U.S. dollar and Indian rupee
Whenever you are interested in an exchange rate you are actually interested in two currencies due to the fact that the value of a currency must always be quoted in comparison to a second currency.
So it follows that if you are determining the best time to transact, in this case the USD vs INR, you should pay attention to both U.S. dollar and Indian rupee news and forecasts.
U.S. dollar (USD) - Market news and forecasts
It was a fine run for the dollar during the six-week period ending May 25th – the day of this report. The Dollar Index never looked back after breaking from a pocket of congestion in the final week of April. The index ended this period achieving a six-month high of 94.3. The dollar benefited from higher US yields.
Against individual currencies, within this timeframe the dollar was impressive against the euro, which fell to buy only 1.165 dollars, from levels near 1.24; against the pound, which fell to buy 1.33 dollars, from 1.44; and against the New Zealand dollar, which fell to 0.69 from 0.738.
A warning on the dollar’s medium-term outlook was offered in May by Citibank. The bank argues that downward pressure on the dollar will resume because Washington’s planned fiscal spending will cause a further deterioration in the US’ twin deficits. The dollar might have 5 percent downside over 6-12 months and 10 percent downside in the long run, a Citi analyst said.
In the coming month, supporting the dollar against growth-sensitive currencies, which include CAD, AUD, NZD, SEK, NOK, SGD and most of the emerging market currencies, will be developments surrounding global trade. In May, trade tensions resurfaced after the US Commerce Department announced it would investigate automobile imports. In 2018, Washington had already announced tariffs on aluminium and steel imports, angering much of the rest of the world.
Indian rupee (INR) - Market news and forecasts
The Indian rupee has been under significant pressure in 2018. Versus the dollar, it stood in mid-July at levels in the low 68s, down 6.5 percent on the year and at historically weak levels (all-time low is at 69.52). However, in July, forecasters became more optimistic on the rupee’s prospects.
Emirates NBD – among the most accurate rupee forecasters according to Bloomberg – said in July that the rupee would likely strengthen to 67 per dollar by year-end. Factors weighing on the rupee might have run their course, Emirates said.
Weighing on the rupee had been the strong dollar, but the dollar bull run might be nearing an end; and high oil prices, but these slumped in mid-July amid increased supply.
Supporting the rupee will be additional interest rate hikes by the Reserve Bank of India, thinks HSBC. In June, the RBI raised rates for the first time in four years in order to rein in above-target inflation.
The rupee would likely depreciate to new all-time lows upon the development of a full-blown global trade war, which appeared possible in July after massive US tariffs were proposed.
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