By Admin 
America’s currency is counted among the most powerful currencies in the world. Currently, the price of US $ 1 is around 88.67 Indian rupees. However, after the transaction and currency exchange in India, its value slightly separated and stays up to Rs 84.12. If a person comes to India with $ 1 lakh from America, then this amount will be equal to about 88 lakh 67 thousand rupees in Indian currency.
This difference is also based on not only numbers, but also on the economy, demand-supply and stability in the global market. Today the dollar is the reserve currency of the world, but it was not always. There was no official currency in the US in the early stages. People used to do transactions by giving tobacco leaves, shells, grains or pieces of land to buy essential items. Gold and silver became the medium of business over time. In 1792, the US officially declared the “dollar” as a national currency. This change was not only limited to transaction facilities, but it gave America a strong identity in global trade.
Why is the US dollar the world’s most powerful currency?
The strength of the dollar is not only in the printing of his note, but in the strength of the American economy. America’s economy is counted among the largest and stable economies in the world. Oil and gold trade is mostly in dollars. Dollar is used only in international trade and reserve funds. The currency of more than 180 countries decides its price against the dollar. Even in a country like India, a large part of international transactions is based on dollars. This is the reason that the increase or decrease of the dollar price directly affects the Indian economy and the pocket of the common man.
Impact of dollar on Indian rupee
The Indian rupee is strong and weakened from time to time against the US dollar. Import becomes expensive due to increase in the price of dollars, such as petrol-diesel, electronic goods and foreign education. At the same time, India benefits in foreign trade when the rupee is stronger against the dollar. The price of dollar also matters a lot for Indian investors and students.
Also read Philippine Peso vs Indian Rupee: 1 lakh in the Philippines will be returned to India and how many will be done, the value of currency will blow the senses