Since Independence in 1947, the value of INR has consistently gone down. Everyone was slowly adjusting to it during the time India gained independence. This agreement determined the value of every currency in the world. The history essentially starts from the time when the Britton Woods agreement was passed in 1944. Here it is believed that 1 Pound was equal to 13.37 Rupees during 1947, and that’s why the value of USD should be INR 4.16 in 1947. The most common one is however that there was no metric system so all currencies had the same value.Īnother argument is that before 1947, India was a British ruled state, so the value of INR was higher because value of pound was higher. There are multiple arguments about how 1 Dollar rupees in 1947 had a better value. It is believed that 1 INR used to be equal to 1 USD.

When India became independent in 1947 the situation was very much different. Today, the value of INR is lower than USD, but this was not the case before. This will give you an idea of how the journey of INR has been so far and where does US Dollar stand at the end of June 2023.

You can start analysing the change in rate of 1 USD to INR in 1947 and see how exchange rate kept increasing in the coming years. Here, a chart will show you the changing value of 1 USD to INR. 1 USD to INR Rates From 1947 to 2023 Year Some of the denominations higher than USD are Kuwaiti Dinar, Bahrain Dinar, British Pound and Euro. Dollar’s value has been always higher than most of the currencies. Its status is on a level where most of the international trade and exchange is valued using this currency. US Dollar is considered as one of the most valuable currencies in the world. This practice is frequent between the travellers visiting South East Asia and Middle East. Many travellers travelling abroad exchange INR to USD and then later get it converted to the local currencies to get a better rate. INR’s value ranges around 80 – 85 to 1 USD.

Today, if we convert 1 USD to INR the Indian currency’s value is lower than USD.

Euro 20 cent coin 2002