1 USD to INR in 1947
February 20, 2019
8 minutes, 55 seconds Read

1 USD to INR from 1947 to 2019 (Till Date) – Historical account of USD-INR Change

1 USD to INR in 1947

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Before you read How much 1 USD to INR was in 1947, read recent USD-INR updates below and check the live US Dollar buying and selling rates in your city, by clicking here.

Recent USD-INR Update

Today’s Forecast Expected High Expected Low
71.75 71.15
Commentary
September 18, 2019: 

Rupee fell further yesterday as the impact of the drone attack on Saudi oil facilities continued to dominate the market. The rupee opened with a large negative gap at 71.81 against the previous day close of 71.61, fell to the day’s low of 71.9775 as crude prices remained at elevated levels during our trading day before closing around 71.77. 

The market focus was totally on the events in the Middle East with apprehensions about when the Saudi will be able to restore production to pre-attack levels. Rupee will be better placed today after crude prices dropped sharply last night when reports came out that Saudi has already restored 50% of the damaged crude production and expected to recover completely by the end of the month. 

Brent crude which was being traded above the $68.00 level through the day, slipped to below $65 and is currently trading around $ 64.50. There is still some small fear about any military retaliation by US-Saudi block but should nothing happen in the next 24/48 hours, we expect crude prices to drop further. 

This will be supportive of rupee today as will the fact that PBOC fixed the mid-rate slightly firmer this morning against the previous day’s fix. Apart from the oil prices, focus today will also be on the Fed meeting ending tonight. Any statement by the Fed indicating that they will continue with their accommodative policy and further rates cuts are on the card, will lead to some selloff of dollars in the forex markets. 

Rupee could also gain some further support from the inflows into our debt markets as a result of lower US yields. With the rupee holding on to the 72.00/10 support levels last two days, the worst in the near term looks to have been over and rupee could make further gains over the rest of the week. 

We might see some resistance around the 71.00/10 levels but in the medium term. The next 48 hours will be crucial for oil prices and if as we expect, tensions are not escalated crude prices will slide further and rupee would recover some more ground. It is recommended to not to hedge any dollar payable for the time being.

We would also like to alert readers to the fact that last night short term lending rates in the US shot up to 5%, forcing the New York Fed to inject liquidity. It is not clear what the cause of this spike in rates was, but traders will take note if this problem persists. It could lead to some dollar selloff in the event the cause is found to be a fundamental problem.

Date Close Open High Low
16-09-19 71.7582 71.0333 71.1801 71.0300
15-09-19 71.0149 71.0149 71.0149 71.0149
14-09-19 71.0149 71.0333 71.0333 71.0149
13-09-19 71.0365 71.9891 71.1500 71.8550
12-09-19 71.9891 71.5770 71.5770 71.9166
11-09-19 71.5770 71.8750 71.8925 71.5137
10-09-19 71.8750 71.7769 71.9920 71.7767
09-09-19 71.7746 71.6800 71.7779 71.5150
08-09-19 71.6840 71.6840 71.6840 71.6840
07-09-19 71.6840 71.6800 71.6840 71.6800
06-09-19 71.6800 71.9135 72.2501 71.5870
30-08-19 71.7399 71.6903 71.8138 71.5870
29-08-19 71.6693 71.8293 72.0750 71.6292
28-08-19 71.8291 71.5453 71.8550 71.4700
27-08-19 71.5451 72.0255 72.0255 71.3800
26-08-19 71.8145 71.5125 72.2450 71.5125
23-08-19 71.5125 71.9305 72.3235 71.4909
22-08-19 71.9304 71.4395 71.9876 71.4395
21-08-19 71.4479 71.5495 71.5950 71.3650
20-08-19 71.4901 72.0051 72.0051 71.4510
19-08-19 72.0051 71.1420 72.0051 71.0600
16-08-19 71.1420 71.3190 71.4550 71.0550
15-08-19 71.3190 71.6451 71.6453 71.2750
14-08-19 71.6451 71.1250 71.6451 70.8650
13-08-19 71.1250 71.2830 71.5300 70.7900
12-08-19 71.2830 71.0421 71.5900 71.0421
9-08-19 71.0421 70.4206 71.0440 70.4161
8-08-19 70.7750 71.1753 71.1753 70.4000
7-08-19 71.0663 70.9090 71.2467 70.6650
6-08-19 70.9090 70.8210 70.9140 70.4850
5-08-19 70.8210 69.6669 70.8390 69.6669
2-08-19 69.6669 69.3075 69.7680 69.0175
1-08-19 69.3075 69.0090 69.3275 68.9101

*Please note that all opinions, research, forecast and analysis shared in this post are provided as general market commentary and do not constitute investment advice. BookMyForex is not liable for any loss or damage, which may arise due to reliance on such information

Find out the USD-INR forecast in the video below:

In its 73 years of Independence history, India and her citizens have been quite vocal about their doubts and confusion towards the value and worth of India on the face of the global map. Be it in any or every front, and moreover, economically. None of us has had a past or maybe present where the question of knowing about the value of INR at its time of independence against USD hasn’t touched us.

Moreover, since the upliftment of the Indians through all these years, the growth of India in its education and awareness front has been commendable. Resulting in, the urge to know more about the past of India and her situations at every front. The popular outrage of Social Media that has brought citizens closer has uplifted the question that ‘How the Indian rupee was equal to 1 US dollar on 15th, August 1947” as a trend.

What’s been the value of 1 USD to INR since 1947 to 2019?

Breaking the monotony on this legendary question–How the Indian rupee has devalued since 1947 till date? We’ve come up with a detailed answer that clarifies the smog from this long-lived question. Honestly, it is nothing more than a myth. If you are thinking that exchanging 1 USD to INR in 1947 would have got you 1 Rupee exactly, then, sadly, that’s not true. ‘Why‘ do you ask? Here’s the answer:

  • When India got her independence in the year 1947- there were no outstanding credits on the
    the balance sheet of India that kept Indian Rupee at parity with the US Dollar.
  • Another fact that one should notice is that India was under British Raj prior to its independence thus, the Indian Rupee was pegged to Pounds then, keeping the value stable at that moment, which obviously, didn’t last long.
  • As reported: from 1927 to 1966, 1 pound valued to 13 INR. The arrangement ended in the year 1966 and the rupee started witnessing devaluation.
  • In fact, after the independence when India launched its 5 Year Plan, the Indian Rupee resultingly used to peg with the U.S. dollar at a rate of 7.5 rupees = 1 dollar until 1971.

Another question that arises is that —What was the actual worth of 1 USD to INR in 1947 exactly?

Although, after Independence, the Indian rupee continued to peg to the British pound at a rate of 1 rupee = 1 shilling and 6 pence what can be withdrawn from the stated that as 13 1/3 rupees per British pound. However, the sources state that British pound would have worth about 4 USD at that point of time – hence, concluding that the US Dollar would’ve been more than 3Rs then.
Don’t have time to read the whole post now: Here’s an infographic that will help you in knowing what you need to know:

Along with the confusions, there are two theories that make their fair share of rounds across the web about the value of 1USD to INR are mentioned hereunder:


1 usd to inr in 1947 to 2018

As suggested the infographic shows that there were two observations that are prevalently accepted by society. However, to break the truth, that none of them is true. The correct answer to this question is that whether 1 USD was equal to 1 INR in 1947 or not * as India was under the British rule until then, and as one of the British Colonies, the Indian Currency was then pegged against Pound during 1947 where 1Pound = 13 INR in 1947 until the Independence.

Also Read: Performance of the Indian Rupee vs US Dollar and other Emerging Market currencies & How Tourism can save the day for Indian Rupee

Note: India became a republic nation in 1950. The constitution of India came into existence in 1952. At that time 1 USD was equal to 4.16 INR or 1 USD =4.16 NCU. (NCU is National Currency Unit)

Introduction

US Dollars: No wonder, the US Dollar is one of the most popular, powerful and wanted currency in the world. It has been a central point of discussion all around the globe. As a Supreme Nation, the US dollar holds an extreme power valuing more than a fortune to many currencies. As the most powerful currency in the world, it is obvious that every country accepts it and deals moreover in it.

Its universal nature can be trusted by the testimonials –185 recognized currencies by International Standards Organization very few are traded outside their countries. Listed as one of the three most traded currencies in the world along with the Euro and Yen, the USD makes up almost 64% of the global trade, thus, concluding it to be the de-facto global currency of the world. Every Indian is excited to know the value conversions of the US dollars for all the years since its independence in 1947. It would be interesting to see the journey of the dollar to rupee from 1947 to the latest.

What was the Value of USD to INR from 1947 till 2018?

Are you amongst those readers from around the world who’ve asked us about the highest or the lowest value of 1 USD to INR after 1947 till date? If yes, then trust us, your search finishes right here. Go through the researched data that we at Bookmyforex.com have curated for all of you that are mentioned hereunder:

YEAR 1 USD TO INR YEAR 1 USD TO INR
1913 0.09 1982 9.46
1925 0.1 1983 10.1
1947 4.16 1984 11.36
1948 3.31 1985 12.37
1949 3.67 1986 12.61
1950 4.76 1987 12.96
1951 4.76 1988 13.92
1952 4.76 1989 16.23
1953 4.76 1990 17.5
1954 4.76 1991 22.74
1955 4.76 1992 25.92
1956 4.76 1993 30.49
1957 4.76 1994 31.37
1958 4.76 1995 32.43
1959 4.76 1996 35.43
1960 4.76 1997 36.31
1961 4.76 1998 41.26
1962 4.76 1999 43.06
1963 4.76 2000 44.94
1964 4.76 2001 47.19
1965 4.76 2002 48.61
1966 6.36 2003 46.58
1967 7.50 2004 45.32
1968 7.50 2005 44.1
1969 7.50 2006 45.31
1970 7.50 2007 41.35
1971 7.49 2008 43.51
1972 7.59 2009 48.41
1973 7.74 2010 45.73
1974 8.10 2011 46.67
1975 8.38 2012 53.44
1976 8.96 2013 56.57
1977 8.74 2014 62.33
1978 8.19 2015 62.97
1979 8.13 2016 66.46
1980 7.86 2017 67.79
1981 8.66 2018 70.09
16 Aug, 18 70.30 10, Oct, 18 74.35
18-03-19 68.85 26-03-19 68.955

Source: IMF, World Bank, OECD, Prof: Werner Antewelier, University of British Columbia

BookMyForex Currency Converter: USD to INR


1 USD to INR in 1947

Exchange Value of one Indian Rupee to one US Dollar and other currencies from 1947 to 2007

Currency ISO Code 1947 1949 1966   1995  1996 2000 2004 2006 2007
US Dollar USD 3.30 4.76 7.50 32.45 35.44 44.20 45.34 43.95 39.50
Bahraini Dinar BHD 13.35 91.75 91.24 117.78 120.39 120.40 109.59
Bangladeshi Takka BDT 0.84 0.84 0.77 0.66 0.63 0.57
Canadian Dollar CAD 5.90 23.63 26.00 30.28 34.91 41.09 42.92
Chinese Yuan CNY
Emirati Dirham AED
Euro EUR 42.41 44.40 41.52 56.38 64.12 68.03
New Zealand Dollar NZD  6.67  8.84  21.27  24.39  20.40  30.30  29.41  30.30
Japanese Yen JPY 6.6 0.01 2.08 32.66 32.96 41.79 41.87 38.93 35.00
Kuwaiti Dinar KWD 17.80 115.5 114.5 144.9 153.3 155.5 144.6
Malaysian Ringgit MYR 1.55 1.55 2.07 12.97 14.11 11.84 11.91 12.36 11.98
Hong Kong Dollar HKD  0.8333  1.112  4.19  4.58  5.76  5.82  5.837  5.3
Pakistani Rupee PKR 1.33 1.08 0.95 0.80 0.77 0.75 0.67
British Pound GBP 13.33 13.33 17.76 51.14 55.38 68.11 83.06 80.63 76.38
Russian Ruble RUB 6.60 15.00 7.56 6.69 1.57
Saudi Riyal SAR 1.41
Singapore Dollar SGD 1.55 1.55 2.07 23.13 25.16 26.07 26.83 30.93 33.60
Srilankan Rupee LKR 1.33 0.63 0.64 0.58
Swiss Franc CHF 1.46 27.48
Australian Dollar AUD 5.33 27.69 26.07 33.28 34.02 34.60
Indonesian Rupiah IDR  37.01  69.35  66.10  187.39  197.25  202.19  221.11
South African Rand ZAR
Korean Won KRW
Thai Baht THB

Exchange Value of 1 Indian Rupee to 1 US Dollar and other currencies 2007-2018

Currency ISO Code 2008 2009 2010 2013 2014 2015 2016 2017 2018
US Dollar USD 48.76 45.33 45.00 68.80 66.07 66.73 67.19 65.11 74.35
Bahraini Dinar BHD 115.65 128.60 121.60 155.95 164.55 170.6 178.3  188.83 198.23
Bangladeshi Takka BDT 0.71 0.66 0.68 0.80 0.88 0.84 0.85  0.85 0.89
Canadian Dollar CAD 44.59 52.17 44.39 56.88 49.53 47.94 52.32 50.21 57.45
Chinese Yuan CNY 7.53  7.18  6.91  11.13 9.93 10.19 10.15  9.94 10.75
Emirati Dirham AED  13.22  14.02  12.82  18.23  17.24 17.47 18.26 17.73 20.35
Euro EUR 60.59 65.69  60.59  77.93 70.21 72.60 75.84 73.53 85.82
New Zealand Dollar NZD  30.59 30.08 32.94 48.05  50.62 44.73 46.776  49.49  49.52
Japanese Yen JPY 42.27 51.73 52.23 60.07 57.79 53.01 62.36  0.59 0.66
Kuwaiti Dinar KWD 161.7 167.7 159.2 206.5 214.3 213.1 222.4 227.23 246.62
Malaysian Ringgit MYR 13.02 13.72 14.22 18.59 18.65 16.47 16.37  15.83 17.95
Hong Kong Dollar HKD  6.22  6.24  5.89  7.56  7.87  8.277  8.65  8.39  9.12
Pakistani Rupee PKR 0.61 0.59 0.53 0.57 0.60 0.62 0.64  0.62 0.61
British Pound GBP 71.33 83.63 70.63 91.08 100.51 98.11 92.00 83.87 98.21
Russian Ruble RUB  1.75  1.59  1.52  2.033  1.77 1.05 0.99  1.16 1.13
Saudi Riyal SAR  19.82  13.73  12.57  17.86  16.33 17.11 17.88 17.33 19.92
Singapore Dollar SGD 34.51 41.27 33.58 46.84 45.86 46.67 48.86 47.70 53.81
Srilankan Rupee LKR  0.51  0.45  0.42 0.47 0.46 0.45 0.46  0.42 0.43
Swiss Franc CHF  45.25  46.65 43.95 66.95 66.71 66.70 68.40  67.43 65.48
Australian Dollar AUD 36.81 38.22 42.00 56.36 54.91 48.21 49.96 49.91 52.64
Indonesian Rupiah IDR  222.96 214.66 198.92 178.54 194.44 208.72 198.07 208  212
South African Rand ZAR  5.20 6.51 6.50  6.59 5.57 4.90 5.01 5.25 5.60
Korean Won KRW  0.063  0.040  0.039  0.061  0.059  0.059  0.060  0.057  0.065
Thai Baht THB  1.39  1.42 1.40  2.12  1.90  1.91  1.92  1.923  2.25

Source: “historical exchange rates”. fxtop.com. Retrieved 2018-04-18. FXHistory: historical currency exchange rates” (database). OANDA Corporation.  xe.com 

If you’ve liked the article, let us know about your views in the comments section below and share it.
Read our Quora answer: How many INR were equal to 1 USD on 15 Aug 1947?
Note: This blog post answers the frequently asked question about “the value of Rupee versus US Dollar n 1947”. We have used historical data from the research done by Prof Werner Antwelier of the University of British Columbia. The research and data can be found here. Rupee may have depreciated with respect to Dollar but has shown significant improvement against other currencies like Euro & Pound…

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