Posted on 24 December 2011.
The forex rates India are focused around the exchange of Indian rupees for foreign currencies. This name for currency is very old in the Central Asian area and many of the surrounding countries also call their currencies by the name rupee. Examples of such countries are Pakistan, Afghanistan and Burma. The Indian rupee is represented in the financial markets by the symbol INR; much like the US dollar is represented by the symbol USD.
Presently, the value of the rupee is weighed daily in forex rates India against several major world currencies, including the US dollar, the British pound, the Yen and the Euro. The rupee suffered a major devaluation at the end of the 1990’s but staged a minor comeback in the following decade. However, the recession of 2008 caused the rupee to lose ground, as did many other currencies.
At the present time, the forex rates India show that the rupee is losing value against most of the major world currencies. As a general example, the US dollar was equal to roughly 39 INR at the end of 2007. Since the beginning of the recession in 2008, it has lost ground and has reached the point at which it now takes 52 INR to equal a dollar’s value.
The rupee’s value as weighed against the British pound has followed a similar descent. It now takes nearly 82 Indian rupees to equal a British pound. The forex rates India demonstrate the same story with the Euro and the Yen. It takes about 70 rupees to equal a Euro. The Yen is not as strongly valued as these other currencies but it still takes nearly seven rupees to equal the Japanese yen. If you are in the forex trade, it is worth some effort to keep an eye on the forex rates India and the value of the rupee.
© 2017 MJ Capital, LLC | All rights reserved