The Rupee’s Journey: A 79-Year Timeline from ₹3 to ₹90

The history of the Indian Rupee is a reflection of India's economic evolution—from a closed economy pegged to the British Pound in 1947 to a liberalized market force today. Starting at approximately ₹3.30 per Dollar at independence, the currency has navigated wars, oil shocks, and global financial crises to breach the ₹90 mark in February 2026.

Key Historical Milestones
1947: The Beginning

₹3.30 / $1
Rupee was pegged to the British Pound. The rate against USD was derived from this peg.

1991: The Crisis

₹25.00 / $1
Severe Balance of Payments crisis forced a major devaluation and liberalization.

2013: Taper Tantrum

₹68.00 / $1
Panic selling occurred as the US Fed signaled tapering of bond-buying.

2026: New Low

₹90.58 / $1
High US bond yields and global oil demand pushed the Rupee past ₹90.

Historical Exchange Rate Ledger (Year-Wise)

A detailed look at the exchange rate at the close of major years.

Year Reference Date Value (₹ per $)
2026 Feb 10, 2026 90.58
2025 Dec 31, 2025 89.91
2024 Dec 31, 2024 85.62
2023 Dec 31, 2023 83.11
2022 Dec 30, 2022 82.78
2021 Dec 31, 2021 74.30
2020 Dec 31, 2020 73.05
2019 Dec 31, 2019 71.27
2018 Dec 31, 2018 69.79
2017 Dec 29, 2017 63.92
2016 Dec 30, 2016 67.95
2015 Dec 31, 2015 66.32
2014 Dec 31, 2014 63.33
2013 Dec 31, 2013 61.89
2012 Dec 31, 2012 54.77
2011 Dec 30, 2011 53.26
2010 Dec 31, 2010 44.81
2009 Dec 31, 2009 46.68
2008 Dec 31, 2008 48.45
2007 Dec 31, 2007 39.41
2000 Dec 29, 2000 46.75
1998 Dec 31, 1998 42.48
1991 (Devaluation) 25.00
1980 (Approx) 7.86
1966 (Devaluation) 7.50
1947 Independence 3.30
Why Does It Depreciate?

The depreciation is not merely a sign of weakness but a result of structural economic factors over the last 79 years.

  • Import Dependence: India imports over 85% of its crude oil requirements. When oil prices rise, India needs more Dollars to pay for it, weakening the Rupee.
  • Inflation Differentials: Historically, India's inflation rate has been higher than the US. Currencies of countries with higher inflation tend to depreciate over the long term.
  • Global Capital Flows: In 2026, high interest rates in the US attracted foreign investors away from emerging markets like India, putting pressure on the currency.
Impact on the Common Man

A weaker Rupee leads to "Imported Inflation." Essentials like petrol, diesel, edible oils, and electronics (smartphones/laptops) become more expensive. However, it benefits Indian Exporters, particularly in the IT and Pharma sectors, who earn in Dollars.

Source Information

Source: RBI Database & Historical Forex Archives
Date: 11 FEB 2026

View Historical Charts

Frequently Asked Questions (FAQ)

Q1. Was 1 USD really equal to 1 INR in 1947?
No, this is a popular myth. In 1947, India followed the British Pound peg. The exchange rate derived from that peg was approximately ₹3.30 to ₹4.76 per USD during the early years.
Q2. Why has the Rupee touched ₹90 in 2026?
The primary reasons are the strengthening of the US Dollar globally due to high US interest rates and India's sustained demand for Dollars to pay for crude oil imports.
Q3. Who benefits from a weak Rupee?
Exporters benefit the most. Companies in IT (like TCS, Infosys) and Pharmaceuticals earn revenue in Dollars, so a weak Rupee means higher earnings in local currency.
Q4. Will the Rupee ever go back to ₹50?
It is highly unlikely. Developing economies typically see their currencies depreciate gradually against developed currencies (like the USD) to keep their exports competitive.