So many Indian rupees are how many American dollars?
The United States dollar (ISO 4217 Code USD) with symbol $ or US$, is subdivided into 100 cents (singular cent), and is the currency of the United States of America.
The Indian rupee (ISO 4217 Code INR) with symbol Rs., is subdivided into 100 paise (singular paisa), and is the currency of India.
Due to increasing economic transactions between USA and India, it is common for Americans to often ask so many Indian rupees are how many American dollars and likewise for Indians to often ask so many American dollars are how many Indian rupees. The answer to such vital questions depends on the Indian number system and the current exchange rates.
The Indian number system
Hindi Transliteration = Figure = Words = Power notation
Ek = 1 = One = 100
Dus = 10 = Ten = 101
Sau = 100 = Hundred = 102
Hazaar or Sahasr = 1,000 = One thousand = 103
Dus Hazaar = 10,000 = Ten thousand = 104
Lakh = 1,00,000 = One hundred thousand = 105
Dus Lakh = 10,00,000 = One million = 106
Crore = 1,00,00,000 = Ten million = 107
Dus Crore = 10,00,00,000 = One hundred million = 108
Arawb = 1,00,00,00,000 = One billion = 109
Dus Arawb = 10,00,00,00,000 = Ten billion = 1010
Kharawb = 1,00,00,00,00,000 = One hundred billion = 1011
Dus Kharawb = 10,00,00,00,00,000 = One trillion = 1012
Neel = 1,00,00,00,00,00,000 = Ten trillion = 1013
Dus Neel = 10,00,00,00,00,00,000 = One hundred trillion = 1014
Padma = 1,00,00,00,00,00,00,000 = One quadrillion = 1015
Dus Padma = 10,00,00,00,00,00,00,000 = Ten quadrillion = 1016
Shankh = 1,00,00,00,00,00,00,00,000 = One hundred quadrillion = 1017
Dus Shankh = 10,00,00,00,00,00,00,00,000 = One quintillion = 1018
Mahashankh = 1,00,00,00,00,00,00,00,00,000 = Ten quintillion = 1019
Note: In commercial transactions, the higher numbers above Crore are not used, instead lakh and crore is repeated. For example, for one billion instead of saying Ek Arawb, generally Ek Sau Crore or One hundred Crore is said.
The exchange rate
The worth of one currency with respect to another currency is specified by the foreign exchange rate, which is also known as the exchange rate, FX rate or forex rate. The exchange rate is volatile as the market forces of demand and supply influence it. There are different types of exchange rates like spot exchange rates, forward exchange rates, fixed exchange rates, linked exchanges rates, nominal exchange rates, real exchange rates, bilateral exchange rates, effective exchange rates, to name a few. In this article by the term “exchange rate”, only spot exchange rate is to be understood. Spot exchange rate is the current exchange rate. For example, an exchange rate of Rs.47.72 to US$1 means that INR 47.72 is equivalent in worth to USD 1.
Assuming an exchange rate of Rs.45 to US$1, we can arrive at the following:
US$ 1 = 45 x 1 = Rs. 45
US$ 10 = 45 x 10 = Rs. 450
US$ 100 = 45 x 100 = Rs. 4,500
US$ 1,000 = 45 x 1,000 = Rs. 45,000
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US$ One million = 45 x 10,00,000 = Rs. 450,00,000 or Rs. 450 lakhs.
Therefore, we see US$ 1 million at an assumed exchange rate of Rs.45 to US$1 is worth Rs.450 lakhs.
With the knowledge of the Indian number system and the prevailing exchange rate at the time of conversion, any amount in USD can be converted into INR and vice versa. To know the current exchange rate, type “currency converter” in any search engine, and numerous currency converters can be found, which can give updated rates and facilities to convert any currency into any other currency of the world.