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 2023?

Accepted Answer

The chances of the rupee gaining momentum in 2023 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 British pound.

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 14 th 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 14 th August 2022, 5:15 am UTC.

Question 7

Which is the safest currency in the world?

Accepted Answer

The Swiss Franc is the safest currency in the world at present (CHF). It has the safest currency in the world due to its neutrality, strong monetary policies, and low debt levels. Nevertheless, no money is 100% secure. Global citizens know that the United States Dollar (USD) is the most valuable currency.

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

When the currency is weak, the inflation rate increases, which also decreases its value.

Question 12

What are the benefits of strong currency?

Accepted Answer

A strong currency's most significant benefits are lower inflation rates, cheaper imports, high buying power, and currency demand.

Question 13

What are the drawbacks of strong currency?

Accepted Answer

Some of the main problems with having a strong currency are that it makes exports less profitable and more challenging for businesses and services in other countries to run.

Question 14

What factors determine the currency strength?

Accepted Answer

Currency strength is based on several things, such as the Gross Domestic Product (GDP), the Consumer Price Index (CPI), the unemployment rate, interest rates, crude oil prices, gold imports, the balance of trade, etc. A currency's strength also has a lot to do with its political and economic stability. The power of a currency is also affected by how well it is used in other countries.

Question 15

Which countries have the highest forex currency reserves?

Accepted Answer

China, Japan, Switzerland, India, Russia, Taiwan, Saudi Arabia, Hong Kong, South Korea, and Brazil have the most foreign exchange reserves.

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 23 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 =  53.13 INR on May 12 2022.

Question 19

How much was 1 AUD to INR in 1950?

Accepted Answer

1 AUD to INR was 7 in 1950.

Question 20

How much was 1 AUD to INR in 1975?

Accepted Answer

1 AUD to INR was 11 in 1975.

Question 21

How much was 1 AUD to INR in 2000?

Accepted Answer

1 AUD to INR was 26 in 2000.

Question 22

How much was 1 AUD to INR in 2015?

Accepted Answer

1 AUD to INR was 48 in 2015.

Question 23

How much was 1 AUD to INR in 2020?

Accepted Answer

1 AUD to INR was 53 in 2020.

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