Currency is one of the most discussed and burning topic of every era. Currency is simply a medium of exchange and most often termed as bank notes or coins that are commonly taken as physical tokens used for money by government of any state worldwide. Basically currency is an elite term used for the meanings of money. So it can be taken that currency isn’t any physical objects, but it should be taken as stores of value that subject to trading between nations in foreign exchange markets, which determine the relative values of the different currencies.
Formerly the trade was in practice in exchange of goods so one party having any good in sufficient amount more than their need can get their desired goods in exchange of it. But with the advancement in other trends the way of trade has also changes and now it is done on account of money. Every country has its own specified currency which helps in trading for goods and the value of currency of each country is dependent on the economy f country.
India is one of the largest population occupying countries of the world. The official currency of Republic of India is Indian Rupee. In India the issuance of currency is controlled by the Reserve Bank of India. The Indian currency has perceived a slippery journey since its Independence. Many geopolitical and economic developments have affected its movement in the last 66 years. When India got freedom on August 15, 1947, the value of the rupee was on same level with the American dollar. There were no foreign borrowings on India's balance sheet. To finance welfare and development activities, especially with the introduction of the Five-Year Plan in 1951, the government started external borrowings. This required the devaluation of the rupee. After independence, India had chosen to adopt a fixed rate currency regime. The rupee was pegged at 4.79 against a dollar between 1948 and 1966. The Indian currency has gradually depreciated since the global 2008 economic crisis.
Whatever the reasons for the decline of the value of Indian Rupee may be the fact is India has a strong currency value. It is an important currency in world with currency exchange rates. For such traders who are interested in the exchange rates of Indian Rupee with relation to other countries of world we provide the Indian Exchange Rates.