Alternatively, it can depreciate the value of the Rupee by buying back foreign currency from the market. If RBI wants to increase the value of Rupee, it can buy back its Rupee from the market using foreign currency. In India, the Reserve bank of India (RBI) controls the foreign exchange reserves and monitors the exchange rates. In contrast, if the demand is lower compared to the supply, its value falls.Īpart from demand and supply, inflation, interest rates, and government policies also influence currency exchange rates. The scarcity increases its value compared to other currencies.
When a currency has high demand than its supply in the international market, it is scarce. The currency exchange rate of INR to EUR is fixed by the market demand and supply forces. Who fixes the value of the currency exchange rate for Indian Rupees (INR) to Euros (EUR)? Jupiter’s free INR to Euro currency converter is a simple tool and gives results within seconds at the latest exchange rate. By dividing INR 50,000 by this rate, you will get EUR 536.29. As of 31st December 2022, the EUR to INR exchange rate is Rs 88.76. If you want to convert INR 50,000 into Euros, then you will have to divide this by the current exchange rate. To convert INR to Euros, you have to divide the amount you wish to convert with EUR to INR exchange rate to get the value in Euros. Using a currency converter will help you convert INR to EUR at the current rate within seconds. Though converting INR to EUR looks like a simple task, with the exchange rate changing every minute, it can become cumbersome.
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