Question 1

What affects the Indian rupee?

Accepted Answer

Trade deficit (oil imports), foreign investment flows, and RBI intervention. Rupee tends to depreciate slowly.

Question 2

Why does INR have many zeros?

Accepted Answer

The rupee is a lower-denomination currency. 83 INR = 1 USD is normal. India uses lakhs and crores.

Question 3

How often should I check exchange rates?

Accepted Answer

For large transactions, check rates multiple times per day as they fluctuate constantly. For small amounts, daily rates are usually sufficient.

Question 4

What affects currency conversion fees?

Accepted Answer

Banks typically add 2-4% markup on exchange rates. Credit cards may charge foreign transaction fees. Currency exchange services often have the worst rates.

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