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1 rupee to usd4/29/2023 ![]() There are multiple arguments about how 1 Dollar rupees in 1947 had a better value. It is believed that 1 INR used to be equal to 1 USD. When India became independent in 1947 the situation was very much different. I can debate with anyone on this and challenge to convince in detail. Today, the value of INR is lower than USD, but this was not the case before. Like China ( they have dual rates for dollar). All saved money of 75% on imports would be given as subsidy for exports to make it cheap. INstead easy route is to keep depreciating Rs by 5-10% every year so that we u bring your money back its value in Rs is always higher, so dollar parked at Rs 50 when returns to India at Rs 70 becomes 40% more or 1400 Cr… Magic)Īlso economically if you think through and peg dollar at 40 and see the cost of importation comes down, now you control pricing in the country. So in 10 years they pay 10% of it as interest. In O/S bank they are charged 1% to park these funds. If I am a corrupt Bureaucrat/Politician and has made say ( 1000 Cr in unaccounted way or take a bribe eqv in foreign country and keep in safe heaven or transfer to Foreign account when dollar is =Rs 50). Why our Currency is depreciating or made to depreciate!! See below But $=Rs 40 will have enough advantages where we all will gain in India. INR to USD Converter : Convert 1 Rupee or any amount of Indian Rupee to United States Dollar by the help of Goodreturns free currency exchange rate. This is text book answer and 99% of the economists and FMs are unaware as they have been taught like this. The situation of 1 Rupee = 1 USD is just not affordable for a growing or developing country. But the BPO and IT Sectors suffered a lot. Similar situation happened in India during 2007-08 when dollar was strong around Rs.40, the imports were good. Companies which are presently in India will start to move out as it will not be profitable for them. 0.1 Mauritian Rupee: 0.0022246941 United States Dollar: 1 Mauritian Rupee: 0. ![]() Outsourcing of job in India will be stopped.Ħ. The MUR Mauritian Rupee to USD United States Dollar conversion table and conversion steps are also listed. When money does not come into India, it will result in complete economic slowdown.ĥ. Eventually people will loose job which will increase unemployment.Ĥ. Now as 1USD= 1INR why any company will pay to an employee USD 75,000 or Rs.75,000 per month if they can hire someone outside who will do the same work for USD 3000 or Rs.3000. ![]() Investment in IT Sector and Service Sector which contributes huge amount for the Indian Economy will be gone if 1 Dollar is equal to 1 Rupee. Service sector contributes almost 60% in GDP and give 27% employment in India. Foreign companies will not be investing in India when the cost of labour is higher compared to other countries.ģ. The primary reason for a foreign investment in India is the cheapest labour cost. There would be no foreign Investment if Rupee equals dollar. If it is expensive, why would any country buy from India when other competitors can offer the same at cheaper price.Ģ. Indian exports have been booming well in recent years. Because Indian products will be expensive compared to other competing nations. Exports will be expensive if value of Indian rupee and dollar are the same. Because other side of the story is completely different. Rupee (RUP) is on a upward monthly trajectory as it has increased from N/A since 1 month (30 days) ago. But this will not last long for the situation. Convert RUP to USD (Rupee to US Dollar) RUP to USD rate today is 0.00081676 and has decreased -75.5 from 0.003331115187 since yesterday.
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