If you’re a forex investor or simply looking to trade Australian dollars for Indian rupees, get the most for your money with a strong exchange rate.
Today’s mid-market rate
The mid-market Australian dollar–to–Indian rupees exchange rate is 1 AUD = 50.69 INR. (Rate accurate as of March 4, 2017.)
How does the Australian dollar trade against the rupee historically?
In 1966, the Australian dollar was introduced to replace the Australian pound. At the time, the Aussie dollar was maintained under the Bretton Woods monetary system that established rules for the commercial and economic relationships among the US, Canada, Western Europe, Australia and Japan.
Under the Bretton Woods agreement, currencies were pegged to the price of gold. But the Australian dollar was effectively pegged to the British pound with an exchange rate of 0.8 dollars per pound.
From the Great Recoinage in 1816 until World War I in 1914, the Indian rupee was also pegged to the British pound at 4.80 rupees per pound — on par with the US dollar. However, when the Aussie dollar was introduced, the rupee was valued at 4.79 rupees per pound. Later wars in China in 1962 and Pakistan in 1965 led to a significant deficit on India’s budget, which forced the Indian government to devalue the rupee.
Over the last 10 years, the rupee has fluctuated between 34.6 rupees and 56.4 rupees per Australian dollar. Experts say this is due to stagnant reforms and declining foreign investment.
AUD > INR exchange rate history
We’ve put together the annual average exchange rate for the Australian dollar against the Indian rupee from 2007 to 2016.
|Year||AUD = INR|
Here’s the monthly average exchange rate for the Australian dollar over the past 12 months.
|Month||AUD = INR|
What affects AUD > INR exchange rates?
Five economic and financial indicators affect how the Australian dollar trades with the rupee: the country’s GDP, retail sales, industrial production, relative inflation rates and trade balances. This could be seen in early 2013, when the rupee depreciated due to stagnant reforms and declining foreign investment.
Less aggressive factors are consumer confidence, the strength of other currencies, investor speculation and day-to-day news about natural disasters, elections and new government policies.
Compare today’s rates from providers who can send AUD to INR
When exchanging Australian dollars for Indian rupees, find a provider that offers two-sided quotes to understand the spread they charge. If they show you only the buy or sell rate — but not both — consider looking elsewhere. Ultimately, the close you can get to the mid-market rate, the better the deal.