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Since India was under British rule, the rupee was pegged to the British pound. From 1927 to 1966, 13 rupees = 1 pound. The peg was maintained until 1966 when the rupee was devalued and pegged to the U.S. dollar at a rate of 7.5 rupees = 1 dollar. This peg lasted until the U.S. dollar was devalued in 1971.

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Pound Sterling tumbles after Brexit vote halt

The Pound Sterling has been riding on a roller coaster since Brexit referendum. The currency tumbled to USD1.26 per GBP on 10th Dec 2018. A renewed pressure on the Pound is visible as the British Prime Minister Theresa May postponed a parliamentary vote on the Brexit deal. The postponement of the parliamentary vote has created uncertainty among investors about deepening political crisis in Britain. Apart from the political uncertainty, macroeconomic factors such as inflation has also played a role in the depreciation of the currency. Inflation rate was 2.2% in Oct. 2018 (Source: ONS), lower than market expectation that...

Exchange Rates

Historical daily, monthly and annual time series. USD, Euro, Japanese yen, Chinese Yuan and other curencies Changes of exchange rates reflect movements of the currency exchange market, that is the interaction between supply and demand for currency units. Increased demand for national currency unit is caused by an increase in demand for national exported goods and services and leads to appreciation of national currency unit. Thus, exchange rate is an important indicator of international trade. See also: Agriculture | Commodities | Demographics | Economics | Education | Energy | Environment | Exchange Rates | Food...

Bitcoin Price from 2009 to 2018

Bitcoin is one of the world's most popular digital currencies, meaning that it is exclusively created and held electronically. But, what do we actually know about digital currencies and the potential of these currencies to replace conventional money? Like conventional money, the major function of a digital currency is to serve as a means of payment, whether that is in exchange for goods or real currency, such as dollars and euros. In addition, similar to how a normal currency's exchange rate is set, the price for bitcoins - per the CoinDesk Bitcoin Price Index (XBP) - is based on market dynamics and expressed as the...

The Big Mac Index

The Big Mac Index invented by The Economist is an informal way of measuring the purchasing power parity (PPP) between two currencies. Calculation of PPPs is based on the assumption that the dollar cost for a Big Mac in a particular country would be the same as in the United States. The indicator is chosen by The Economist magazine, as a measure of PPP, is based on the fact that the ingredients used in the preparation of Big Mac are the same over the globe, and hence variation in dollar cost in any country is a direct measure on the valuation of the currency. The study also points to the fact that, some of the developing...