Question 1

Who decides USD to INR exchange rate?

Accepted Answer

The value of a currency is determined by its supply and demand in the market. It also depends on the country’s trade balance, prices of commodities, Gross domestic product, inflation, and interest rates. The Reserve Bank of India (RBI) and US Federal Reserve  are responsible for the Indian rupee and the US dollar’s performance which determines the USD to INR exchange rate.

Question 2

Why is the Indian Rupee (INR) falling against US Dollar (USD)?

Accepted Answer

Factors like trade balance, prices of crude oil, gold imports, GDP, and inflation rates affect the performance of a currency. India’s relative performance in the above-mentioned factors to that of US is poor. This combined with the unstable economy has led to the weakening of the rupee against the US dollar.

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 US Dollar (USD) 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 US dollar.

Question 5

Which is the lowest currency in the world?

Accepted Answer

Iranian Rial (IRR) is the lowest currency in the world. 1 USD = 33,136.76 IRR as of 11 th August 2022, 4:34 pm 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 = 4.17 USD as of 11 th August 2022, 4:34 pm 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 USD to INR exchange rate?

Accepted Answer

The highest ever USD to INR exchange rate was 1 USD = 83.002 INR on October 19 2022.

Question 18

What is the lowest ever USD to INR exchange rate?

Accepted Answer

The lowest ever USD to INR exchange rate was 1 USD = 79.090 INR on August 10 2022.

Question 19

How much was 1 USD to INR in 1950?

Accepted Answer

1 USD to INR was 3.30 in 1950.

Question 20

How much was 1 USD to INR in 1975?

Accepted Answer

1 USD to INR was 8.39 in 1975.

Question 21

How much was 1 USD to INR in 2000?

Accepted Answer

1 USD to INR was 43.5 in 2000.

Question 22

How much was 1 USD to INR in 2015?

Accepted Answer

1 USD to INR was 64.13 in 2015.

Question 23

How much was 1 USD to INR in 2020?

Accepted Answer

1 USD to INR was 74.13 in 2020.

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