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The value of one currency for the purpose of conversion to another currency.
An exchange rate is the rate at which one currency can be exchanged for another. In India, the exchange rate is determined by market forces with occasional RBI intervention. The Indian Rupee (INR, symbol ₹) is traded against major currencies: USD (US Dollar), EUR (Euro), GBP (British Pound), JPY (Japanese Yen), and AED (UAE Dirham). Exchange rates fluctuate based on trade balances, inflation, interest rates, and geopolitical factors. Rates shown online typically include a margin over the interbank rate.