If you are looking to sell any leftover Euros that you may have under your possession, and are contemplating on a way around for the same, it is of high importance to keep an eye on the rate comparisons. Eventually you must be trying to figure where you can find the best exchange rates at a competitive cost for exchanging your EUR to INR.
While we suggest you keep the spare EUR with you in case you are to take a Euro trip anytime soon in the future, the other inevitable option is to sell the currency. At Thomas Cook, we will assist you with the necessary proceedings to exchange the EUR to INR at the best competitive rates.
Your remittance of EUR online becomes even simpler with our productive foreign exchange tool. We’ll facilitate you a 24x7 online portal to review the live currency rates, therefor making it as convenient as possible for you to exchange your currency online right from the comfort of your home.
Importance of the Euro
Euro is one currency that is popular and known in almost all the countries of the world and it well explains the impact of the Euro on the world economy. Euro is a special currency since it does not belong to any one country but the alliance of 27 European countries known as the European Union (19 of them uses the Euro as their currency).
One of the prima importance of the EUR lies in the fact that there is no need to convert currency when travelling to any of the European Union countries. On the other hand, the introduction of the Euro has also led to a growth in foreign investment and trade because of the low-risk profile of the currency. In times of need, during crises, the EU is able to act strongly altogether due to a strong bond of similar currency between the countries of the European Union.
Introduction of the EURO
27 countries in Europe have formed an alliance over political and economic bases. This alliance is known as the European Nation (EU) and the official currency of the EU are known as Euro. Being one of the reserve currencies, Euro is also one of the most popular currencies in the world after the US Dollar. Out of 27 countries of the EU, 19 have adopted Euro as their official currency.
Abbreviated as EUR, the Euro was launched in 1999. The currency is managed and maintained by the European Central Bank (ECB) which is a part of the ESCB (European System of Central Banks). There are total 7 denominations of EUR banknotes: €5, €10, €20, €50, €100, €200, and €500. On the other hand, there are 8 coin denominations of EUR: 1, 2, 5, 10, 20, 50 cent, and 1 and 2 Euro coins.
Factors that affect the exchange of the Euro to INR
The exchange rate refers to the rate at which one currency is converted into another country. Be it for the purpose of trade or tourism, currency conversion is a crucial task.
There is not one or two but a number of factors associated with the performance of the exchange rate value. The economic condition of both countries can heavily impact the exchange rate of the Euro to INR. The current rate of Euro to INR is 90.06 INR = 1 EUR. The essential factors that affect this exchange rate are the political and economic stability level of both countries, the inflation rate, international debts of both countries, commodity prices in the international market and so on.
Convert EURO to INR Online as per Today’s Conversion Rate
The exchange rate may change every other day. As of today, the exchange rate of EUR/INR is 90.06 Indian Rupee per Euro. This means you need 90.06 INR to get 1 EUR. Let's understand this with the help of an example:
Smriti is the daughter of an RBI employee, Roshan Mehta. Smriti studies in Malta, which is a part of the European Union and also uses the EU as its official currency. Roshan needs to send 1000 EUR to her daughter. So, as per today's rate, Roshan will have to pay a total of:
1 EUR=90.06 INR. So, 1000 EUR=90,060 INR. So, Roshan needs to convert INR 90,060 to get 1000 EUR in return for her daughter in Malta.
Convert EURO to INR
Converting a currency from INR to EUR is mandatory if you are going to make use of EUR in one of the 19 EUR currency countries of the European Union. Prior to converting your money, you must have a look at the currency converter as it helps you get a quick insight into the amount you need to have as per current rates.
A currency converter is an online tool that is built to help you quickly calculate the current exchange rate of one currency to another like INR to EUR. You just need to enter the inputs and the tool will calculate the results for you. In the case of EUR to INR, this will be today's rate:
1 EUR=90.06 INR
10 EUR= 900.6 INR, and
1 INR=0.011094 EUR
100 INR=1.1094 EUR.
How are EURO-INR Rates Determined?
Euro and INR are quite popular world currencies. EUR-INR is also one of the most frequently traded currencies. The currency exchange rate of EUR-INR is fixed by the central banks of both currencies, that is the Reserve Bank of India for INR and the European Central Bank for EUR. The economic and political development of both countries, their geopolitical presence, etc. impacts the forex rate altogether. The exchange rate of EUR-INR is subject to regular change as per the changes in the factors that affect both currencies.
EURO and INR Overview
Rupee 1 coin is the smallest denomination and the Reserve Bank of India (RBI) tries its best to maintain the most favourable exchange rate for INR-EUR. Since India has undergone demonetisation to eradicate corruption and create a better economic sphere for national and international currency value, the relations of EUR-INR have also been impacted. In the year 2010, India announced its currency symbol (₹) and currently, the country is maintaining 7 banknote denominations: ₹10, ₹20, ₹50, ₹100, ₹200, ₹500, ₹2000.
Currently, the rate of EUR-INR is 90.06 INR/EUR. The Euro continues to impact the world economy and trade with the strong presence of its currency, the EUR. The togetherness and strength of the European Union are also quite evident with its single official currency of the EUR. If you are planning for converting EUR to INR or vice-versa, do not forget to make use of a currency converter to make informed decisions.
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