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The Indian Rupee is the official currency of India. It can also be used in neighboring Nepal and Bhutan, as well as Pakistan in certain situations. The US Dollar has been the World’s reserve currency since 1944; it is also the most traded currency on Earth with about two-thirds of Global foreign exchange transactions are done with USD.
The Indian Rupee is sub-divided into 100 Paise and is often represented by the symbol ₹. The Reserve Bank of India is officially in charge of issuing notes and coins.
The Indian Rupee is often abbreviated as INR
On 18 November 2016, the Foreign Exchange Reserves of India was $392 billion. The Reserve Bank of India issues rupees in denominations between ₹0 -₹10000 and coins in denomination between 50 Paise to 20 Rupees; coins are being phased out of circulation.
The US Dollar is the most popular currency in India, accounting for around two-thirds of all foreign exchange transactions.
USD to INR Currency Exchange Rates
The Federal Reserve is in charge of issuing U.S. banknotes and coins, though they are not standard for circulation outside of America.
The Indian Rupee exchange rate has been in a state of flux over the past few decades.
The trade volumes between USD to INR have been steadily climbing in the past few years.
USD is the most popular currency for international trade, accounting for more than 60% of all globally and it is also one of the most stable currencies.
Currency trading, in general, is a risky investment and should be approached with caution.
The US Dollar to INR conversion rate is often changing due to political and natural occurrences.
The Indian Rupee is the second most traded currency in Asia as well, coming after China’s Yuan.
