Explore the historical value of 1 US dollar against the Indian rupee at the time of independence and compare it to today’s rate.
At the time of India’s independence in 1947, the Indian rupee was pegged to the British pound rather than the US dollar. The pound was valued at roughly four US dollars. Given that one rupee was defined as 1 shilling and 6 pence – about 13⅓ rupees to the pound – the implied value of a US dollar in 1947 was around ₹3.3【72379950935957†L304-L305】. Some accounts suggest that by 1950 the exchange rate had moved to approximately ₹4.76 per US dollar【72379950935957†L308-L309】.
Contrary to popular belief, there was never a 1:1 parity between the US dollar and the Indian rupee. The rupee’s linkage to the British currency meant that its value was derived indirectly from the dollar until India began quoting its exchange rate directly against the USD.
Use the live converter below to see how much 1 US dollar is worth in Indian rupees today. The value updates automatically with the most recent exchange rate.
1 USD today equals – INR.