An exchange rate is the price of one currency expressed in another. Rates are determined by the foreign exchange (forex) market — the largest financial market in the world with over $7.5 trillion traded daily. Rates fluctuate constantly based on interest rates, inflation, economic data, political events and market sentiment.
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Open Currency Converter →| Currency | Code | 1 USD = | 1 Unit = USD |
|---|---|---|---|
| Indian Rupee | INR | ₹83.47 | $0.0120 |
| Euro | EUR | €0.920 | $1.087 |
| British Pound | GBP | £0.790 | $1.266 |
| Japanese Yen | JPY | ¥149.2 | $0.0067 |
| Canadian Dollar | CAD | CA$1.368 | $0.731 |
| Australian Dollar | AUD | A$1.535 | $0.652 |
| Swiss Franc | CHF | Fr0.898 | $1.113 |
| Chinese Yuan | CNY | ¥7.24 | $0.138 |
| Singapore Dollar | SGD | S$1.345 | $0.743 |
| UAE Dirham | AED | 3.673 AED | $0.272 |
The rates above are "mid-market" or "interbank" rates — the real exchange rate used between banks. When you exchange currency at a bank, airport kiosk or traditional money exchanger, you'll get 2–8% worse than this rate. That's their profit margin hidden in the exchange rate itself (called the "spread"). On a $5,000 exchange, an 8% spread costs $400 extra.
| Year | USD/INR Rate | Change |
|---|---|---|
| 2015 | 65.46 | − |
| 2018 | 68.80 | Rupee weakened |
| 2020 | 74.10 | COVID impact |
| 2022 | 80.10 | USD strengthened |
| 2023 | 82.70 | Continued weakness |
| 2024 | 83.50 | Gradual depreciation |
| 2026 (current) | 83.47 | Stabilising |
| Method | Typical Spread | Best For |
|---|---|---|
| Wise (TransferWise) | 0.4–1.5% | International transfers, travel money |
| Revolut / Niyo | 0–1% | Travel, frequent forex users |
| Google Pay / Remitly | 1–2% | Remittances to India |
| Your bank (online transfer) | 2–4% | When convenience matters more |
| Bank branch (cash) | 4–6% | Last resort |
| Airport kiosk | 8–15% | Avoid entirely |
| Hotel exchange desk | 8–12% | Emergency only |
Airport currency exchange kiosks offer the worst rates in the world — often 10–15% below mid-market. On a $500 exchange that's $50–75 lost immediately. Always order travel money online before your trip via Wise or your bank's travel card. If you're stuck at an airport, use your debit card at an ATM inside the airport — you'll get close to mid-market rate with only a small ATM fee.
As of May 2026, the USD to INR exchange rate is approximately ₹83.47 per US dollar (mid-market rate). This rate fluctuates daily based on RBI interventions, global USD movements, India's trade balance and foreign investment flows. The rate you receive from a bank or money exchanger will typically be ₹1–4 lower per dollar due to their spread. Use our currency converter for the latest indicative rate.
Banks and traditional money exchangers profit from the "spread" — the gap between the mid-market rate and what they offer you. Online services like Wise use the actual mid-market rate and charge a small transparent fee (0.5–1.5%) instead of hiding profit in the rate. For any significant currency conversion, using Wise or a similar service saves 2–8% compared to a bank.
For USD to INR remittances, Wise (TransferWise) and Remitly consistently offer the best rates with 0.5–1.5% fees and near-instant or same-day transfers. Google Pay International and PayPal also work but charge slightly higher fees. Traditional bank wires (SWIFT) typically charge $25–45 flat fee plus 2–4% spread — expensive for smaller amounts. Never use Western Union for India — fees are high and rates poor.
An exchange rate like USD/INR = 83.47 means 1 US Dollar buys 83.47 Indian Rupees. The first currency (USD) is the "base" and the second (INR) is the "quote." If the rate goes up to 85, the dollar has strengthened (buys more rupees). If it goes down to 82, the dollar has weakened. For travellers: if you're going from USD to INR, a higher number is better for you (your dollars buy more rupees).
Exchange before travelling for better rates. Order through your bank's travel card, Wise or an online forex service 2–3 days before your trip. Avoid exchanging at airports or hotel desks — their rates are the worst available. In India specifically, using your international debit card at SBI or HDFC ATMs gives you close to mid-market rate with a small international ATM fee (typically $2–5 per withdrawal), which is often better than pre-exchanging large amounts.