December 6, 2018 Update: Rupee is at 51.00 against AUD
History of Australian Dollar
The Australian Dollar is the currency of Australia. It was called Australian Pound before 1966. Australian Pound was first introduced in 1910. Before that, English Pound or GBP was the official currency. Spanish Dollars were in use on regular basis in the latter part of the 17th century. The centres of the coins were cut out and they were called ‘holey dollars’ and the cores were called ‘dumps’ to prevent the illegal use of Spanish Dollars. This is Australia’s first form of coinage. They minted British Coins in Australia in 1825 on the basis of Sterling Standard. The use of the silver and bronze coins continued until 1910. The introduction of Australian Dollars in February 1966 under the decimalized system lead to the replacement of pounds, shilling, and pence with dollars and cents. In 1988, banknotes were converted to polymer, a technology originally developed in Australia to help prevent counterfeiting.
The Economy of Australia
Australia has enjoyed more than two decades of economic expansion due to the fact that it is one of the wealthiest Asia-Pacific nations. Its economy is heavily dependent on agriculture and foreign investment. However, Australian Economic Growth has grown by 3.4% in the year to June last year. The latest forecast states that year-end growth in 2018/19 will slow to around 2.5 % down from 3.4% to present.
AUD to INR Rates
There are a number of online foreign currency exchange marketplace from where you can get AUD to INR exchanged. You can also find currency exchangers in India who deals in AUD work on what’s called “today’s rate”, which is a static rate that does not change throughout the duration of the day. In fact, the AUD rates update on the second to second basis. Most of the currency exchange companies pad on large margins to these “today’s Exchange rates” that they publish. This way they are able to protect themselves from the fluctuations in forex rates throughout the day. Due to strong technology infrastructure and their excellent tie-ups, BookMyForex is able to provide their customers with perfectly live and transparent rates.
1 AUD to INR Exchange Rates (1966-2018)
|Year||1 AUD to INR||Year||1 AUD to INR|
|Jan 2018||51.32||Nov 2018||51.07|
- Source: http://fx.sauder.ubc.ca/etc/USDpages.pdf
AUD to INR Historical Exchange Rate ( 2009-2018)
- Source: xe.com
1 AUD to INR Decade Wise Performance (Slideshow)
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