Currency Converter

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Australian Dollar to Indian Rupee Currency Converter

The currency code for the Indian Rupee is INR, and the symbol is ₹. It is the oldest existing currency. The currency code for the Australian Dollar is AUD, and the symbol is A$.

FAQs

What is currency?

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Currency is an exchange of goods and services that replaces the old barter system. In the past, the exchange between goods and services did not have a suitable basis for assessing the value of the goods and services sold. It is essentially government issued money and is an accepted form of payment. Modern money consists of paper and metal in the form of banknotes and coins. Alone they are meaningless. The value is provided by the client and accepted by the institutions; therefore, it is considered more stable. Countries have developed their currencies over the years based on their standard of living and cost of living

How does this currency converter work?

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StockGro's currency converter converts between all major currencies using real-time exchange rates. To convert, simply enter the desired amount and select the source, target currencies. The tool automatically displays the converted amount and a historical exchange rate chart for the selected currency pair.

What is currency conversion rate?

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A conversion rate is a relationship between two currencies that determines the value of one currency against the other. It is useful for trading in the forex market, which fluctuates frequently. Currency supply and demand dictates the conversion rate. Therefore, institutions such as governments or central banks implement policies to increase or decrease the nation's money supply through interest rate inflation or deflation.

What is exchange rate?

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The exchange rate is the price of exchanging one currency for another. Interest rates tend to fluctuate due to economic and political factors. Economic factors include implemented economic policies, trade balances, economic growth projects and inflation. Political factors include how politically stable an area is in determining whether or not it is safe to trade.

Why do currency conversion rates differ between countries?

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Exchange rates vary between countries because exchange rates can be floating or fixed. A fixed exchange rate is pegged to another currency. In contrast, a floating exchange rate is calculated based on supply and demand and macroeconomic factors. Which system suits them best depends on the national government. The applicable monetary policy then dictates the conversion
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