Check the currency rates against all the world currencies here. The currency converter below is easy to use and the currency rates are updated frequently. This is very much needed given that the extreme volatility in global currencies lately.
The Goodreturns.in currency converter is an excellent tool to convert currency from one exchange to another. It can be used if you are traveling, to remit money from abroad or for business purposes. The tool is simple and easy to use and the currency rates are updated frequently.
The rupee has been on a steady upmove against other currencies since the start of the year.
This is because we are increasingly seeing India's economic fundamentals fast improving. The Indian currency tends to gain against other world currencies when the fundamentals, particularly the trade deficit and the current account deficit improve. This is a good sign, though one can never predict how long the strength in the Indian rupee will continue. Currency markets are extremely volatile in nature and investors should avoid directly trading in them unless they have the expertise. Those looking to send and receive money from abroad, can use our Indian rupee vs other currencies converter.
What is the Exchange Rate?
The Exchange rate refers to the rate at which one country's currency will be exchanged for another country's currency. The exchange rate also stands as the value of one nations currency in relation to another country's currency. Every nation determines its exchange rate regime which will apply to its repsective currency.
For instance, a country's currency may be floating, fixed or a hybrid. Governments of respective country can impose controls on exchange rates as well as certain limitations on the currencies.
Though in some exchanges, rates are fixed by an agreement, most of them fluctuate daily. The daily revision of these exchange rates will be listed in the financial sections of newspapers. It can also be found on the financial web portals.
In case of a fixed exchange rate system, the exchange rates of a country’s currency will be established and the same will remain unchanged for longer period. But keeping a currency under fixed exchange rate system has its own share of cons as the country’s currency becomes overvalued, resulting in that nation being persistently in balance of payment deficit. It can also lead to devaluation of exchange rates (refixed at a lower rate), this situation will make its imports costlier and its exports cheaper.
Similarly, if the exchange rate is undervalued, the country may persistently face a situation of balance of payments in surplus. The exchange rate has to be revalued (refixed at a higher rate), this situation will make the nations imports cheaper and its exports more expensive.
Disclaimer: The currency rates are sourced from reliable sources. There maybe variance in rates and prices. GoodReturns.in has made every effort to ensure accuracy of information provided; however, Greynium Information Technologies Pvt Ltd, its subsidiaries and associates do not guarantee such accuracy. The rates are for informational purposes only. It is not a solicitation to buy, sell or act based on the rates given. Greynium Information Technologies Pvt Ltd, its subsidiaries, associates do not accept culpability for losses and/or damages arising based on currency rates provided.