The latest on Australian dollar to Indian rupee rates
To learn more about the history of the Indian rupee and its relationship with the Aussie dollar, keep reading below.
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Exchange rates last updated Wednesday, 24 January 2018 10:27:24 AM AEDT. The online exchange rates provided by this Currency Converter are intended as a guide only and should not be used for transactional purposes. All rates are subject to change from time to time without notice. Exchange rates used in-store may differ from those offered online. The Travelex online buy rate will be used for conversions from a foreign currency to the local currency. The Travelex online sell rate will be used for conversions from the local currency to a foreign currency.
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The lowdown on the Indian rupee
Ancient Indians were some of the earliest adopters of coins, and the first to be minted were in the 6th century BC by the Mahajanapadas (republic kingdoms) of ancient India.
Hundreds of years later, in 1526 AD, a new era in India began with the start of the Mughal Empire, and the introduction of a more unified and sophisticated monetary system. Sher Shah Suri set up a new civic and military administration, and issued a silver coin named the rupiya, which translates into English as ‘wrought silver, a coin of silver.’
Coin production continued in the 20th century as the British Empire began to colonise the country. In August 1950, three years after the country gained independence, the portrait of the British King George VI was replaced with an engraving of Ashoka’s Lion Capital of Sarnath and the Republic of India’s first coinage was coined.
1957 ushered in the introduction of a decimal series, and the rupee was divided into 100 paisa instead of 16 annas. The coins came in 1, 2,5 and 10 denominations and were all shaped differently in order to assist the blind.
In 1996, the Reserve Bank of India introduced the Gandhi Series of banknotes, and the iconic leader and civil rights pioneer has adorned every new note issued since. The reverse of the various notes pay tribute to Indian wildlife, history, and agriculture, featuring everything from elephants and tigers to a tractor and an oil rig.
Historic Australian dollar to Indian rupee rates
The Australian dollar to Indian rupee rate remained stable between 2015 and 2017, fluttering between a high of 52.01 and a low of 45.89. But, jumping back to the decade prior tells a different story: on October 28th 2008 the rate dipped to 30.20, which is its lowest in the past 10 years and less than half of the decade’s highest rate, which was 61.73 – seen in September 2013.