October 16 2017

Exchange Rate India

By end-September 2017, the INR/USD exchange rate stood at 65.36, weakest in 7 months.

Published monthly by the Reserve Bank of India. Updated till the month of September 2017.(Published on October 2nd, 2017)

Note: REER and NEER indices presented here are export based and trade based 36-currency weighted basket. An increase in NEER and REER indices indicates an appreciation of rupee and vice versa. REER figures are based on Consumer Price Index (combined).

Brief Overview

The exchange rate of the Indian Rupee(INR) with other major currencies such as US Dollar, Euro, and Japanese Yen are published by the Reserve Bank of India on a monthly and daily basis. The spot exchange rate specifies how much Indian rupee is equivalent to a unit of the specified currency. The Indian rupee followed a pegged exchange rate system till 1991 after which it was shifted to floating exchange rate system following an economic crisis in the country.

The Nominal Effective Exchange Rate (NEER) and the Real Effective Exchange Rate (REER) of the INR are released by the RBI monthly. REER and NEER indices presented here are export based and trade based 36-currency weighted basket. These indices are used as indicators of external competitiveness. NEER is the weighted average of bilateral nominal exchange rates of the home currency in terms of foreign currencies. Conceptually, the REER, defined as a weighted average of nominal exchange rates adjusted for relative price differential between the domestic and foreign countries.

For more information on the methodology and computation of REER and NEER indices, please click here.

For more information visit the official website.

Next Release date: First week of November 2017.

Daily Exchange Rate of the Indian Rupee

Note: Published daily by the RBI. The spot rate at the end of the trading day (15:30 IST) has been used.