The Indian rupee (sign: ₹; code: INR), is the official currency of the Republic of India. The rupee is subdivided into 100 paise (singular paisa), though as of 2011, 25 paise is no more a legal tender. The issuance of the currency is controlled by the Reserve Bank of India. The Reserve Bank manages currency in India and derives its role in currency management on the basis of the Reserve Bank of India Act, 1934. The rupee is named after the silver coin, rupiya, first issued by Sultan Sher Shah Suri in the 16th century and later continued by the Mughal Empire. In 2010, a new symbol '₹', was officially adopted. It was derived from the combination of the Devanagari consonant "र" (ra) and the Latin capital letter "R" without its vertical bar (similar to the R rotunda). The parallel lines at the top (with white space between them) are said to make an allusion to the tricolour Indian flag, and also depict an equality sign that symbolises the nation's desire to reduce economic disparity. The first series of coins with the new rupee symbol started in circulation on 8 July 2011. On 8 November 2016 the Government of India announced the demonetisation of ₹500 and ₹1000 banknotes with effect from midnight of the same day, making these notes invalid. A newly redesigned series of ₹500 banknote, in addition to a new denomination of ₹2000 banknote is in circulation since 10 November 2016. The new redesigned series is also expected to be enlarged with banknotes in the denominations of ₹1000, ₹100 and ₹50 in the coming months.
1 USD US Dollar exchange rates
The United States dollar (sign: $; code: USD; also abbreviated US$ and referred to as the dollar, U.S. dollar, or American dollar) is the official currency of the United States and its insular territories per the United States Constitution. It is divided into 100 smaller cent (¢) units. The circulating paper money consists of Federal Reserve Notes that are denominated in United States dollars (12 U.S.C. § 418). The U.S. dollar is commodity money of silver as enacted by the Coinage Act of 1792 which determined the dollar to be 371 4/16 grain (24.1 g) pure or 416 grain (27.0 g) standard silver. It is the currency most used in international transactions and is the world's primary reserve currency. Several countries use it as their official currency, and in many others it is the de facto currency. Besides the United States, it is also used as the sole currency in two British Overseas Territories in the Caribbean: the British Virgin Islands and Turks and Caicos Islands. A few countries only use the Federal Reserve Notes for paper money, while the country mints its own coins, or also accepts U.S. coins that can be used as payment in U.S. dollars, such as the Susan B. Anthony dollar. After Nixon shock of 1971, USD became fiat currency.
The 1 INR to USD mid market rate, (a.k.a 1 Indian Rupee to US Dollar mid market rate) is derived from the mid-point between the "buy" and "sell" rates from global currency markets.
1 INR Indian Rupee to USD US Dollar exchange rate chart analysis
A market-based 1 INR to USD exchange rate will change whenever the values of either of the two component currencies change (In this case, it's 1 Indian Rupee and US Dollar). Indian Rupee will tend to become more valuable whenever demand for it is greater than the available supply. Indian Rupee will become less valuable whenever demand is less than available supply (this does not mean people no longer want money, it just means they prefer holding their wealth in some other form, possibly another currency).
1 INR Indian Rupee to USD US Dollar news trends analysis
Indian Rupee does not have news for trends analysis.
US Dollar does not have news for trends analysis.
1 INR Indian Rupee to USD US Dollar Wikipedia trends analysis
Wikipedia trends analysis
Wikipedia trends analysis
1 INR Indian Rupee to USD US Dollar Google trends analysis
Indian Rupee does not have a Google keyword for analysis.
US Dollar does not have a Google keyword for analysis.
Disclamer: 1 INR Indian Rupee to USD US Dollar converter is provided to give you some guidence about how to convert 1 INR Indian Rupee to USD US Dollar into other currencies based on the exchange rates today. You might need to find local forex traders to do the actual conversion.
1 INR Indian Rupee vs USD US Dollar ratings
Disclamer: 1 INR Indian Rupee vs USD US Dollar ratings are calculated by comparing INR Indian Rupee and USD US Dollar's influence on Google, Wikipedia, Youtube, Twitter, Instagram and Facebook with other currencies in the world. Generally speaking, the bigger the hexagon is, the higher INR Indian Rupee vs USD US Dollar ratings should be on the internet!