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Best EUR to INR exchange rate today
Analyze the trade history and find today's mid-market rate.
A country’s economy, trade and inflation are among the factors that affect the exchange rates between the euro and the Indian rupee.
Today’s mid-market rate
Refreshing in: 60s | Mon, Oct 21, 08:03AM GMT
Buy Indian rupee with the euro
Depending on your needs, you can buy rupees through your bank or an online transfer specialist. Compare these tops picks to find your best transfer option.
When is the best time to buy?
Despite Brexit talks in Europe causing a bit of instability in the region, the euro continues to hold second as the world’s most traded currency. Though the euro is on an upswing, a recession or political unrest could affect its value.
The Indian government placed restrictions on the movement of the rupee outside the country. With close to 20% of the world’s population using the INR, this could be a reason the euro continues to hold more value.
How does the euro trade against the rupee historically?
From its launch in 1999 until now, the euro has traded with more value against the rupee, mostly as a result of public debt, weak economic competitiveness and high levels of inflation. In 1999, the euro valued at INR 50.
In the next two years, the value of the euro fluctuated in between INR 40 and INR 50, and it saw its low point of INR 39.50 in May and October of 2000. The euro witnessed an upward trend in mid 2001, and by the end of 2002 it got back to the INR 50 mark.
From 2003 to 2008 the euro hovered between INR 50 and INR 60, touching the upper end in December 2004 and August 2006. When the subprime mortgage crisis in the US threatened to upset world markets in between 2008 and 2009 the euro held its own. During this period its value in comparison to the rupee increased noticeably, with the euro crossing the INR 70 mark for the first time in September 2009.
EUR to INR exchange rate history
The past can be a good indicator of the future. Depending on the sociopolitical atmosphere, interest and inflation rates, foreign trade, public debt and export to import price ratios can influence exchange rates. Below you can find the average exchange rate for the past week.
|Oct 14||Oct 15||Oct 16||Oct 17||Oct 18||Oct 19||Oct 20|
|1 EUR =||78.5568 Inverse: 0.0127||78.8895 Inverse: 0.0127||79.0306 Inverse: 0.0127||79.1307 Inverse: 0.0126||79.4074 Inverse: 0.0126||79.4074 Inverse: 0.0126||79.2629 Inverse: 0.0126|
Average exchange rate over the past 6 months.
|May 22||Jun 16||Jul 11||Aug 05||Aug 30||Sep 24|
|1 EUR =||77.6981 Inverse: 0.0129||78.2617 Inverse: 0.0128||77.0291 Inverse: 0.0130||80.0011 Inverse: 0.0125||78.9826 Inverse: 0.0127||78.1612 Inverse: 0.0128|
Average exchange rate over the past 10 years.
|1 EUR =||64.9811|
What affects the euro to rupee exchange rate?
The proximity of Europe to India has a small affect on its currency exchange. However its trade practice, economies and government policies does have a larger affect.
The global economic slowdown got to Europe by late 2009, put the euro down by 18% against the rupee to INR 57. But by 2011 the euro climbed back to INR 70, and by May 2013 it was valued between INR 67 and INR 72.
The United States Federal Reserve Board announced in 2013 that would cut back on its quantitative easing program, causing a surge in investors to pull their money out of India. This, alongside inflation, resulted in the euro reaching the historic INR 90 mark.
Towards the end of 2014, India’s newly-elected government promised significant economic reforms, boosting investor confidence. The threat of Greece exiting the Eurozone and the euro’s deflation tipped the euro down to INR 69.54 in March 2015. The looming Brexit could affect the euro, but as of June 2019, those talks are still ongoing.
To find the best rate for your EUR to INR exchange, keep an eye on the mid-market rate and stay on top of current events to get a leg up on what the market could do and where it’s headed.
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