Indian Rupee Holds Title Of Best Asian Currency So Far In 2024 (2024)

FAQs

What is the best performing Asian currency in 2024? ›

In 2024, the rupee hit an all-time low of Rs 83.58, but it still stands out as the best-performing currency in Asia despite the downturn. The rupee has depreciated 0.12% on a year-to-date basis in comparison to a 3.32% advance in the US Dollar Index, according to Bloomberg data.

The Kuwaiti Dinar, the official currency of Kuwait, is often considered the highest-valued currency in Asia and even the world, in terms of value against the US Dollar.

While maintaining its global role, the dollar's decline reflects inflation and geopolitical uncertainties. NDTV mentions: “According to Wednesday's exchange rate published on International Monetary Fund's (IMF) website, India ranks 15 with value listed as 82.9 per US Dollar.”

We expect the US dollar and gold will more or less hold their values, given our economic expectation and the many geopolitical risks. We believe the yen will appreciate, and we expect the thawing crypto winter will fully transition to a spring.

The Philippines' 1.000-piso polymer banknote has just been voted the world's most beautiful banknote in 2022, according to the announcement of the International Association of Banknote Collectors (IBNS). The Philippines' 1.000-piso banknote was voted the world's most beautiful banknote in 2022. Photo: CNN Philippines.

The top three strongest currencies are the Kuwaiti dinar (number one), the Bahraini dinar (number two), and the Omani Rial at number three. The US dollar is the 10th-strongest currency, despite being the world's biggest and strongest economy.

The world's weakest currency is considered to be either the Iranian Rial or the Venezuelan Bolívar. This is due to the high inflation levels, political conflicts and poor economic health of the countries. Visit our forex trading page for more details on the 330+ currency pairs you can trade with us.

If you compare Japan with India, you will see that the growth in India is higher than in Japan. The inflation and interest rates are also higher in India. Hence the value of INR is higher than JPY.

Which currency is weaker than India? ›

Today 1 Indian Rupee = 504.66 IRR.

Currently, the Iranian Rial is considered the world's least valuable currency. This is the result of factors like political unrest in the country.

The Indian Rupee is valued less compared to the US Dollar. The value of one Dollar to one Indian Rupee fluctuates, referred to as the exchange rate. In the global foreign exchange market, the exchange rate changes every day, and it is an essential indicator of a country's economic strength.

What Currency Is Strongest Against the Dollar? If you're wondering what currencies are better than the U.S. dollar, the best answer would be the Kuwaiti dinar (KWD), the official currency of Kuwait, which is the strongest currency in the world.

Why is the Dollar More Powerful than the Indian Rupee? The US dollar overpowers the rupee for a simple reason. Most of India's foreign trade and debt is denominated in US dollars. As a result, every increase in the dollar index automatically transmits in an equal proportion to the INR/USD exchange rate.

Southeast Asia foresees strong economic growth in 2024, with most major economies expected to accelerate despite challenges like inflation and geopolitical tensions. Easing inflation and increased investments are poised to further support growth.

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This is the US Dollar (USD) to Philippine Peso (PHP) exchange rate history data page for the year of 2024, covering 138 days of USD PHP historical data. Best exchange rate: 57.8867 PHP on 24 Apr 2024. Average exchange rate in 2024: 56.3836 PHP. Worst exchange rate: 55.3282 PHP on 11 Mar 2024.

We now forecast the USD/IDR at 16200 (15,850 previously) in the next 3 months before strengthening modestly to 15,650 in 12 months on anticipation of US rate cuts and some stepping down of Middle East tensions (Table 1).