The US dollar is the currency most of India’s foreign trade is invoiced in, so the dollar–rupee rate is the one that matters most for fuel prices, imported electronics, overseas tuition and money sent home by Indians working abroad.
India’s official reference rate is published every working day by FBIL (Financial Benchmarks India Ltd). The Reserve Bank of India does not fix the rupee at a level; it buys and sells dollars to smooth sharp swings. Over the long run the rupee has gradually weakened against the dollar, which you can see in the yearly comparison above.
What moves USD to INR
Crude oil prices — India imports most of its oil and pays in dollars
Foreign investment flowing into or out of Indian shares and bonds
US interest rates set by the Federal Reserve
RBI intervention and India’s foreign-exchange reserves
Frequently Asked Questions
What is the dollar rate today in India?
The live mid-market USD to INR rate is shown at the top of this page and refreshed daily. Banks and money changers quote a slightly lower rate when you sell dollars and a higher one when you buy them.
Who sets the official USD to INR rate?
No one fixes it — the rupee is market-determined. FBIL publishes the daily reference rate used for official purposes, and the RBI intervenes only to limit excessive volatility.
Is a rising USD to INR rate good or bad?
A higher number means a weaker rupee. It helps exporters and families receiving dollars from abroad, and hurts anyone paying in dollars — importers, students abroad and travellers.
Sources: today’s rate from Exchange Rate API; history from European Central Bank reference rates via Frankfurter. Mid-market rates are for information — banks and transfer services apply their own rates.
