United States 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.
20 Aug 2018
13 Aug 2018
21 Jul 2018
21 Feb 2018
20 Aug 2017
20 Aug 2016
21 Aug 2013
22 Aug 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
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.
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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.
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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.
Currency News, Research and Forecasts for United States 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 United States Dollar and Indian Rupee news and forecasts.
United States Dollar (USD) - Market news and forecasts
The US dollar is thriving in 2018. The world’s reserve currency had a dismal 2017, during which it shed 10 percent of its value. The Dollar Index’s move to a 1-year high of 96.30 in mid-August reclaimed around 40 percent of last year’s losses.
The dollar is the second-best performing major this year, bettered only by the Japanese yen. As safe havens, both currencies have been sought by investors – they are deemed the least risky among major international currencies. Investors have become more risk averse in recent months following chaos in emerging markets, led by Turkey and Argentina, and Washington’s massive tariffs on imported goods, which threaten global trade. More cause for dollar optimism came in August when data showed US core inflation at a 10-year high.
Dollar strength has pushed EUR/USD below 1.15 for the first time in a year, GBP/USD into the 1.27s, USD/CHF towards parity, and NZD/USD hurtles towards 0.65.
In August, SEB was forecasting end-of-September rates of: EUR/USD, 1.1; GBP/USD, 1.22; AUD/USD, 0.72.
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.
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 United States 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 United States Dollar cross rates and reviews of leading foreign exchange providers versus the Banks.
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