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This is a list of tables showing the historical timeline of the exchange rate for the Indian rupee (INR) against the special drawing rights unit (SDR), United States dollar (USD), pound sterling (GBP), Deutsche mark (DM), euro (EUR) and Japanese yen (JPY). The rupee was worth one shilling and sixpence in sterling in 1947.
Another factor leading to devaluation was the drought of 1965/1966 which resulted in a sharp rise in prices. At the end of 1969, the Indian Rupee was trading at around 13 British pre-decimal pence (1s 1d), or Rs. 18 = £1. A decade later, by 1979, it was trading at around 6 British new pence (6p).
It consisted of copper 1 ⁄ 12, 1 ⁄ 4 and 1 ⁄ 2 anna, silver 1 ⁄ 4, 1 ⁄ 3 and 1 rupee and gold 1 and 2 mohurs. In 1841, silver 2 annas were added, followed by copper 1 ⁄ 2 pice in 1853. The coinage of the EIC continued to be issued until 1862, even after the company had been taken over by the Crown .
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[3] [4] The Economic Survey of India in 2014-15 stated India could target foreign exchange reserves of US$750 billion-US$1 Trillion. [5] India's foreign exchange reserves are mainly composed of the United States Dollar in the forms of United States government bonds and institutional bonds. [6] [7] with nearly 7.34% of forex reserves in gold.
Currency ISO 4217 code Symbol or Abbrev. [2]Proportion of daily volume Change (2019–2022) April 2019 April 2022 U.S. dollar: USD $, US$ 88.3%: 88.5%: 0.2pp Euro
NSE launched the 14-day NSE MIBID MIBOR on November 10, 1998, and the longer term money market benchmark rates for 1 month and 3 months on December 1, 1998. Further, the exchange introduced a 3 Day FIMMDA-NSE MIBID-MIBOR on all Fridays with effect from June 6, 2008, in addition to existing overnight rate.
This event began with a slide in the value of the Indian rupee leading up to mid-1991. The authorities at the Reserve Bank of India took partial action, defending the currency by expanding international reserves and slowing the decline in value. However, in mid-1991, with foreign reserves nearly depleted, the Indian government permitted a sharp ...