Question 1

Who decides AUD to INR exchange rate?

Accepted Answer

The Reserve bank of Australia and the Reserve Bank of India are responsible for deciding the performance and the value of their respective currencies, which in turn determines the AUD to INR exchange rate. The banks take factors such as the country’s trade balance, prices of commodities, Gross domestic product, inflation, and interest rates into consideration while deciding the currency’s performance.

Question 2

Why is the Indian Rupee (INR) falling against Australian Dollar (AUD)?

Accepted Answer

Compared to India, the Australian dollar has been performing better. This is because, factors like trade balance, prices of crude oil, gold imports, GDP, and inflation rates affect the performance of a currency. Australia’s relative performance in the above-mentioned factors compared to that of India has been superlative.

Question 3

Why is Indian Rupee (INR) weak?

Accepted Answer

The widening trade deficit, rising inflation rates, and low GDP are some of the reasons for the weakness of the Indian rupee (INR). Every time, the RBI buys more USD, the rupee falls. Growing foreign debts also contribute to the currency’s performance. Economic and political instability also affect the currency.

Question 4

Will Indian Rupee (INR) get stronger against Australian Dollar (AUD) in 2022?

Accepted Answer

The chances of the rupee gaining momentum in 2022 is very low. However, the RBI expects the economy and the currency to find some stability in the 2023, suggesting that the rupee will get stronger against the Australian dollar.

Question 5

Which is the lowest currency in the world?

Accepted Answer

Iranian Rial (IRR) is the lowest currency in the world. 1 AUD = 30,181.36 IRR as of 14th August 2022, 5:15 am UTC.

Question 6

Which is the highest currency in the world?

Accepted Answer

Kuwaiti Dinar (KWD) is the highest currency in the world. 1 KWD = 4.58 AUD as of 14th August 2022, 5:15 am UTC.

Question 7

Which is the safest currency in the world?

Accepted Answer

The Swiss Franc (CHF) is the safest currency in the world today. The country’s neutrality, strong monetary policies and low debt levels has allowed its currency to become the safest in the world. Although, no currency is completely safe.

Question 8

Why countries keep their currency weaker?

Accepted Answer

Countries keep their currency weaker to increase foreign investments and exports. This in turn allows them to achieve lower trade deficits thereby reducing the interest payments on central government's debt in a foreign currency.

Question 9

Why countries keep their currency strong?

Accepted Answer

Countries keep their currency strong to decrease the inflation rates and import rates. This allows companies and services to acquire capital from other countries, raise money at cheaper interest rates and improve the quality of life for its citizens easily.

Question 10

What are the benefits of weak currency?

Accepted Answer

Some obvious benefits of having a weak currency are positive trade balance with profitable exports and reduced imports, increased GDP growth and improved current account deficits.

Question 11

What are the drawbacks of weak currency?

Accepted Answer

Weaker currency leads to higher inflation rates thereby weakening the currency’s buying power.

Question 12

What are the benefits of strong currency?

Accepted Answer

Lower inflation rates, cheaper imports, high buying power and currency demands are some of the major benefits of having strong currency.

Question 13

What are the drawbacks of strong currency?

Accepted Answer

Decrease in ease of operation for companies and services in other countries, and less profitable exports are some of the notable drawbacks of having a strong currency.

Question 14

What factors determine the currency strength?

Accepted Answer

Numerous factors such as Gross Domestic Product (GDP), Consumer Price Index (CPI), unemployment rate, interest rates, crude oil prices, gold imports, balance of trade, etc. determine the currency strength. Apart from that political and economic stability also have a huge part in determining a currency’s strength. Acceptability of a country’s currency in other nations also affect the strength of the currency.

Question 15

Which countries have the highest forex currency reserves?

Accepted Answer

China has the highest forex currency reserves followed by Japan, Switzerland, India, Russia, Taiwan, Saudi Arabia, Hong Kong, South Korea and Brazil.

Question 16

How much forex currency reserve India has?

Accepted Answer

India has over $573 Billion of forex currency reserve.

Question 17

What is the highest ever AUD to INR exchange rate?

Accepted Answer

The highest ever AUD to INR exchange rate was 1 AUD = 57.38 INR on March 23rd 2022.

Question 18

What is the lowest ever AUD to INR exchange rate?

Accepted Answer

The lowest ever AUD to INR exchange rate was 1 AUD = 38.56 INR on June 8th 2010.  In the year 2022, the lowest AUD to INR exchange rate was 1 AUD= 53.13 INR on May 12th 2022.

Send money to INDIA from AUSTRALIA (AUD to INR)

$1 = ₹ 0 (AUD to INR) is the best current exchange rate to transfer money from AUSTRALIA to INDIA (Australian Dollar to Indian Rupee)