Question 1

Who decides EUR to INR exchange rate?

Accepted Answer

The Reserve Bank of India (RBI) and the council of the European Union decide the EUR to INR exchange rate as well as the value of their respective currencies. These decisions are made based on several factors including the currency’s supply and demand in the market, country’s trade balance, prices of commodities, Gross domestic product, inflation, and interest rates. The Euro doesn’t just depend on one country. It depends on the relative performance of all the countries who are a part of the European union and whose official currency is the Euro. Therefore, it is a very complex equation.

Question 2

Why is the Indian Rupee (INR) falling against Euro (EUR)?

Accepted Answer

The performance of a currency depends on the country’s performance in several fields such as trade balance, prices of crude oil, gold imports, GDP, and inflation rates. India’s relative performance against the European union countries is poor. This combined with the unstable economy has led to the weakening of the rupee against the Euro.

Question 3

Why is Indian Rupee (INR) weak?

Accepted Answer

The growing trade deficit, rising inflation rates, and the 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.

Question 4

Will Indian Rupee (INR) get stronger against Euro (EUR) in 2023?

Accepted Answer

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

Question 5

Which is the lowest currency in the world?

Accepted Answer

Iranian Rial (IRR) is the lowest currency in the world. 1 EUR = 42,706.38 IRR as of August 19 th 2022, 8:19 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 = 3.23 EUR as of August 19 th 2022, 8:19 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

The weaker a country's currency, the greater its ability to attract foreign investment and exports. This reduces their trade deficits, reducing the interest payments on the central government's foreign currency debt.

Question 9

Why countries keep their currency strong?

Accepted Answer

Countries strive to maintain a stable currency to reduce inflation and import prices. This makes it easier for businesses or services to obtain funds from other nations, raise funds at lower interest rates, and better people's lives.

Question 10

What are the benefits of weak currency?

Accepted Answer

A weak currency has numerous advantages, such as a positive trade balance with profitable exports and fewer imports, a higher GDP growth rate, and a reduced current account deficit.

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 EUR to INR exchange rate?

Accepted Answer

The highest ever EUR to INR exchange rate was 1 EUR = 89.021 INR on Jan 25 2023.

Question 18

What is the lowest ever EUR to INR exchange rate?

Accepted Answer

The lowest ever EUR to INR exchange rate was 1 EUR = 79.74 INR on July 12 2022.

Question 19

How much was 1 EUR to INR in 1950?

Accepted Answer

1 EUR to INR was 13 in 1950.

Question 20

How much was 1 EUR to INR in 1975?

Accepted Answer

1 EUR to INR was 18 in 1975.

Question 21

How much was 1 EUR to INR in 2000?

Accepted Answer

1 EUR to INR was 45 in 2000.

Question 22

How much was 1 EUR to INR in 2015?

Accepted Answer

1 EUR to INR was 71 in 2015.

Question 23

How much was 1 EUR to INR in 2020?

Accepted Answer

1 EUR to INR was 89 in 2020.

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