Lets start exploring the journey of dollar vs rupeeSkip to tabular data
From 1950, the Government of India had a budget deficit problem and could not borrow money from abroad or from the private corporate sector, due to that sector’s negative savings rate.
There was a time when Indian Rupees was crashing to a record low line at almost 70 rupees per dollar, it has become one of the worst performing currencies in Asia.
In the last 70 years (from 1948 – 2018), the rupee has never appreciated against the dollar. In economics, It depends on supply and demand and it strictly follows by from that knowledge, we can say that this currency value is also for supply and demand. Then it starts deteriorating regularly. If any country in all over the world who has listed for stocks doesn’t manipulate their currency forcefully then the invisible hand of the economy controls the level and its results on the economy. and that depends on the demand of USD in India by the importers Take a look at how the rupee fared against the dollar in the last two decades.
In 1990, India had the debt of penny issues since 1985, and at the end of 1990, India found itself in serious economic trouble. From 1990 to 2003 this time the two govt has changed in India and they tried to control the dollar :
1996: This year 1996 two govt (Pandit Atal Bihari Vajpayee ji and then UPA ) has synchronized in the history of Indian Politics respectively the value.
1997: Again the govt was trying to handle itself rather that Indian economics.
1999 It was the era of former PM Atal Bihari Vajpayee Ji first time they formed NDA govt and gave their best to the country.
At the end of 1999, the Indian Rupee was decreased from the value of dollar considerably, from 1990 – 2000 the rupee went from 17 to 43
2000 In this time Atal Ji their concentration on Indian security and development the value was 1 dollar = Rs 46.88
2001 This year the dollar increased by 1 rs while Atal Ji was Powering India
2002 Again this year 2001 repeated with increment in the dollar of 1rs the value was 1 dollar = Rs 48.23
2003 This was the year of election and dollar was gradually increasing by 1rs with respect to the rupee 1 dollar = Rs 45.66
2004 In 2004 the new UPA Govt formed and Dr.Manmohan Singh who is an Economist became PM of India, the level of rupee was neither good nor bad because this time they have to push the value of rupee which he got from the past.
They tried their best to control the value of rupee as compared to the dollar but due to massive shut in the international stock market, they didn’t do what they wanted. At that time the value of rupee as compared to the dollar was “1 dollar = Rs 44.00”
2005 In 2005 was also not good for the economist Manmohan Singh even this year the value of rupee as compared to dollar floated with the massive grew of 2 rupee /dollar .the rupee became slow, the value of rupee as compared to the dollar was “1 dollar = Rs 46.11”
2006 In 2006 the world has started witnessing the slow growth of economy but this time the rupee competed for the dollar, It was rupee who had a value of “1 dollar = Rs 44.49”.
2007 In January 2007 was the first time when the rupee appreciated for a brief period of time. it had to hold the value of 1 dollar = Rs 39.33 which was quite cheapest as compared to another financial year.
2008 In 2008 January when the whole world was facing the global financial crisis. It started and very badly affected the whole market. this time, It ate the many global companies and completely crashed the market. At that time the value of rupee directly increased by 10+rs as compare to 2007. it was 1 dollar = Rs 49.82
2009 In 2009 the value quite cheap as compared to 2008. 2009 /2010 and 2011, it was stable at around 46 – 48 rupees and in 2011 end, it started losing its value again.
2010 In 2010 The value of rupee as compared to one dollar was 1 dollar = Rs 46.29, for the same in 2010 the value was 1 dollar = Rs 45.09
2011 In 2011 first time the dollar has crossed the 50 rs it was an achievement of UPA govt. this time rupee was crying over the dollar because the dollar had completed the half-century of stocks .the value was 1 dollar = Rs 51.10
2012 This time rupee was not doing good and even dollar took the margin if 2+rs over the rupee.it was very worst time for the Indian economy because an Economist PM was not able to control the dollar and the value was 1 dollar= Rs 54.86
2013 In 2013 this was the boom year of dollar whole Indian market was crashing day by day and dollar was still dancing on the floor of economy and rupee was crying, This year dollar ditched the rupee badly and took the massive 7+rs score. It the value of 1 dollar=Rs 61.79. Thank you, UPA.
2014 This year PM Modi came in power who had to face multiple problems of the economy which he got as a gift from UPA .people and stocks were also expected huge from Modi. This is year dollar got few increments of 1rs and the value was 1 dollar=Rs 63.02
2015: 1 Dollar = Rs. 66.16
2015 In the year of Jan 2015 – Jan 2016, the market corrected by close to 15% and the currency corrected by 8%. The thing is some countries keep their currency value low so that their export can go up and in that way their domestic economy gets strong. The value was 1 dollar=Rs 66.16
2016 It was quite good for PM Modi that in 2016 the value of the dollar has only increased by 1 rupee, It was the PM Modi who was working very hard to shape new India. The value was 1 dollar=Rs 67.87
2017 Wow, This year the dollar had fallen by 4rs I don’t know how PM Modi did it? but yes this year dollar had beaten up by Ruppe and the value was 1 dollar=Rs 63.87
2018All world is facing stocks issue with their markets and this year the dollar had done quite good and crossed the value of 70+rs. the value was 1 dollar=Rs 70.02 till 19 August
Data in Tabular Format
|Year||Dollar vs Rupee Devaluation($1=)|
in recent times, this change in rupee is much more and it has happened due to stock market rise and fall, currency volatility of dollar against yen and other major currencies, global trade.