AUD to INR Exchange Rate

What influences the AUD/INR exchange rate?

Amongst other macroeconomic factors, developing trade relationships may influence the AUD to INR exchange rate--especially as India’s service exports grow. As of 2016, India and Australia are still finalising talks for a bilateral free trade agreement (FTA), which would reduce tariffs for exports and make it easier for skilled professionals to transfer between the countries.¹ 

Additionally it’s important to keep in mind that the Reserve Bank of India (RBI) applies a ‘managed float’ exchange rate policy to the INR/USD relationship, which means that the RBI routinely trades in the forex market to ensure the USD/INR exchange rate is not too volatile. This policy may have subsequent effects on the AUD/INR relationship.

AUD/INR snapshot

• In terms of nominal GDP, India is the world’s 7th largest economy and home to the world’s second largest labor force with a population of 1.2 billion. Australia, by contrast, comes in at number 12 in nominal GDP. However, on a per capita basis Australia is number 7 and India drops to 141st ²
• India is one of the world’s largest gold importers and often outpaces China in the demand for gold jewellery. Jewellery is also a major export for India accounting for almost 4% of total exports with a value of almost $12 billion (USD) as of 2014³
•  As of 2015, one of the fastest growing communities in Australia is Indian-born Australians who account for 1.8% of the population up from .7%.⁴

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Currency Name: Indian Rupee
Currency Code: INR
Currency Symbol: ₹
Central Bank: The Reserve Bank of India
Countries Used In: The Republic of India. Unofficially used in Bhutan and Nepal
Major Unit: One Indian Rupee
Minor Unit: One Paise = 1/100 of one Indian Rupee
Note Denominations: 1, 2, 5, 10, 20, 50, 100, 500 and 1000
Coin Denominations: 50 paise,1, 2, 5, 10, 50, 75, 100 and 1000. 

INR to AUD exchange rate analysis. Check out our daily market analysis to learn the factors influencing the INR to AUD exchange rate today.