USD to INR Currency Conversion Glossary - Key Terms Explained

Glossary of Terms for USD to INR Conversion

Exchange Rate

The value of one currency expressed in terms of another currency (e.g., USD to INR).

USD (United States Dollar)

The official currency of the United States and the world's primary reserve currency.

INR (Indian Rupee)

The official currency of India, issued by the Reserve Bank of India.

Forex (Foreign Exchange)

A global decentralized market for trading currencies, including USD and INR.

Currency Converter

An online tool or calculator used to convert the value of one currency into another based on current exchange rates.

Mid-Market Rate

The midpoint between the buy and sell prices of two currencies, commonly regarded as the most fair and transparent exchange rate.

Spread

The difference between the buying and selling price offered by currency exchange providers.

Remittance

Money sent from one country to another, often converted from USD to INR.

Wire Transfer

An electronic transfer of funds across a network of banks or transfer agencies around the world.

Currency Pair

Two currencies quoted together to indicate their relative value (e.g., USD/INR).

Appreciation

When the value of a currency (e.g., INR) rises relative to another (e.g., USD).

Depreciation

When the value of a currency decreases relative to another currency.

Reserve Bank of India (RBI)

India's central banking institution responsible for monetary policy and currency issuance.

Conversion Fee

A fee charged by financial institutions for exchanging one currency into another.

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