USD to INR History
How many rupees one US dollar has bought since 1973, from the Federal Reserve's daily noon buying rates in New York (published on FRED). A rising number means a weaker rupee.
Rupees per US dollar since 1973
Month-end values, on a log scale (equal distances are equal percentage changes). Hover a year-end point for its value.
How fast the dollar has risen against the rupee
| Rate | 1Y | 3Y | 5Y | 10Y | 20Y | 30Y | 40Y | 50Y | Data to |
|---|---|---|---|---|---|---|---|---|---|
| USD/INR | 8.0% | 4.9% | 5.4% | 3.7% | 3.8% | 3.3% | 5.2% | 4.8% | 25 Sep 2026 |
Annualised (CAGR) for periods of a year or more, ending on each series' latest date. “n/a” means the series does not go back that far.
Board of Governors of the Federal Reserve System, H.10 release, via FRED (Federal Reserve Bank of St. Louis), series DEXINUS. Data 2 Jan 1973 to 25 Sep 2026.
Year by year
show table
| Year | Rupees per dollar at year end | Change in the dollar |
|---|---|---|
| 2026 to 25 Sep | ₹95.81 | +6.6% |
| 2025 | ₹89.84 | +5.0% |
| 2024 | ₹85.55 | +2.8% |
| 2023 | ₹83.19 | +0.6% |
| 2022 | ₹82.72 | +11.2% |
| 2021 | ₹74.39 | +1.9% |
| 2020 | ₹73.01 | +2.3% |
| 2019 | ₹71.36 | +2.6% |
| 2018 | ₹69.58 | +9.0% |
| 2017 | ₹63.83 | −6.0% |
| 2016 | ₹67.92 | +2.6% |
| 2015 | ₹66.19 | +5.0% |
| 2014 | ₹63.04 | +1.8% |
| 2013 | ₹61.92 | +12.9% |
| 2012 | ₹54.86 | +3.5% |
| 2011 | ₹53.01 | +18.3% |
| 2010 | ₹44.80 | −3.4% |
| 2009 | ₹46.40 | −4.5% |
| 2008 | ₹48.58 | +23.3% |
| 2007 | ₹39.41 | −10.7% |
| 2006 | ₹44.11 | −1.9% |
| 2005 | ₹44.95 | +3.9% |
| 2004 | ₹43.27 | −5.0% |
| 2003 | ₹45.55 | −5.1% |
| 2002 | ₹48.00 | −0.6% |
| 2001 | ₹48.27 | +3.3% |
| 2000 | ₹46.75 | +7.4% |
| 1999 | ₹43.51 | +2.3% |
| 1998 | ₹42.52 | +8.2% |
| 1997 | ₹39.30 | +9.3% |
A positive change means the rupee weakened that year. Calendar years, from the last available rate of each year.
The years the rupee weakened most
| Year | Change in the dollar | Events that year |
|---|---|---|
| 1991 | +42.1% | Rupee devaluation |
| 2008 | +23.3% | January 2008 sell-off; Lehman Brothers bankruptcy; RBI cuts repo rate (GFC) |
| 2011 | +18.3% | US credit rating downgrade |
| 1984 | +18.0% | — |
| 1988 | +17.6% | — |
| 1981 | +15.0% | — |
| 1989 | +13.1% | — |
| 2013 | +12.9% | Taper tantrum; Rupee record low (2013) |
Complete calendar years, ranked by the rise in rupees per dollar. FRED data, MFIC calculation.
How the rupee has moved with other assets
| Compared with | Correlation | Months |
|---|---|---|
| Nifty 50 | −0.59 | 245 |
| Gold (domestic, ₹) | 0.17 | 233 |
| Brent crude (US$) | −0.05 | 472 |
Correlation of monthly returns over the months both series have: +1 moves together, 0 unrelated, −1 opposite. Relationships change over time.
Questions
- How much has the rupee depreciated against the dollar?
- From ₹8.02 in Jan 1973 to ₹95.81 on 25 Sep 2026 (FRED). Over the 20 years to that date the dollar rose 3.8% a year against the rupee, and over 10 years 3.7% a year.
- Why does the rupee matter for investors?
- A weaker rupee raises the rupee value of overseas assets and of gold (priced in dollars globally), and raises the rupee cost of imports such as crude oil. International funds' rupee returns include this currency effect.
Every Monday: index benchmarks and the median 1-month and 1-year return of every equity category, plus broad equity, hybrid and debt figures. Calculated from AMFI NAVs. Free; unsubscribe from any email.