INR to EUR Converter

Finding the best Rupee to Europe rate for your upcoming Europe trip? Europe, a continent that is surrounded by the Arctic Ocean, the Atlantic Ocean, and the Mediterranean Sea, attracts over 600 million international tourists every year. With 44 countries, this continent offers a variety of experiences that will leave you wanting for more. To make the most of your trip, you must first convert INR to Euro in advance at the most competitive rates. Its scenic beauty, magnificent landscapes, and artistic buildings will leave you awestruck.

Rich in cultural heritage, the continent has also witnessed the rise and fall of Ancient Greece and the Roman Empire and invoked the Renaissance along with the Industrial Revolution. There is so much for you to explore in Europe. Owing to the vastness of this continent, it only makes sense to plan in advance and be prepared to be stunned by its beauty. 

Given the current rate of the Euro, you must consider the Rupee to Euro prices before planning your trip. While places like Prague may not burn a big hole in your pocket, Amsterdam, Switzerland, Denmark, Norway and Sweden can be quite heavy on your pocket. Therefore, if you are travelling on a budget, you might want to consider the places basis the INR to Euro rates at each of these places.

Thomas Cook is synonymous for travel today. Our years of expertise have helped us become one of the world’s most trusted travel partners and we constantly strive at improving our offerings. To enhance your travelling experience, we go an extra mile to ensure you get the best deals on hotels, flights, and currency conversion of Euro to Rupee.

Importance of the Euro

Euro is the monetary unit of exchange in the European Union. The Euro currency is used by 19 countries and used by 340+ million citizens in the European Union thereby making it the second most important currency in the world. Most of the global trade and financial transactions are with the use of this currency. Due to its wide usage the Euro currency plays an important role in shielding the global economy by reducing the reliance of the internal market on other currencies.

Introduction of the Euro

The euro currency was created in 1991 as the 12 original member countries created a common monetary unit of exchange. Euro as a currency came into existence on 1st January 1999 although as a non-monetary unit in financial markets and limited sector businesses. However, since 2002 all the participating countries started issuance of currency banknotes and coins, thereby the usage of the euro currency came into existence.

The management of the euro currency like the issuance and circulation is overlooked by the European Central Bank, Frankfurt. The European Central Bank is an independent body who is headed by a president elected by the participating countries. All the participating countries select the president of the ECB for a term of 8 years.

The currency notes denominations of the Euro are 5, 10, 20, 50, 100, 200, and 500. Coin denominations in Euro currency are 1 cent, 2 cents, 5 cents, 10 cents, 20 cents, and 50 cents. 100 cents make 1 euro.

Factors that affect the exchange of the Euro to INR

The exchange rates are the amount determined by the countries for their currencies. These exchange rates are determined for the ease of trade and business of one country with another. However, certain global factors and parameters affect these exchange rates. The following factors affect the currency exchange rate on a macro-economic level i.e., they affect all the currency exchange rates and not just one particular.

1. Inflation
2. Interest Rates
3. Public Debt
4. Political Stability
5. Economic Health
6. Balance of Trade

The currency conversion rate also known as the currency exchange rate is easily available on the Internet. So, here is a simple methodology to help you understand the conversion of the Euro to INR.

Today’s Conversion rate is 1 euro = 90.03 INR

Today for getting 1 euro have to spend 90.03 INR.

So if you want 1000 euros you have to spend 90.03 * 1000 = 90030.82 INR

Thus, you can see the euro is a strong currency as compared to INR i.e., you have to spend more Indian rupee to get the euro.

Convert INR to Euro

Earlier, we learned conversion of the euro to INR now let us convert 1000 INR into Euro as per today’s conversion rate.

Today’s Euro to INR exchange rate is 1 euro = 90.03 INR while the INR to Euro conversion rate is 1 INR = 0.011 euro.

So, the value of 1000 INR in Euro is 0.011*1000 = 11.11 euros

Thus, the value of 1000 INR will be 11.11 euros

How are Euro-INR Rates Determined?

The currency exchange rates are determined by the central banks of the related countries. For INR, the Reserve Bank of India is responsible for determining the currency exchange rate. While in the case of the euro, The European Central Bank determines the currency exchange rate from time to time.

Additionally, the currency exchange rates can be either fixed or floating. The fixed exchange rate uses gold reserves or pegged currency rates to determine the exchange rate. While the floating exchange rate means that the value of the currency is dependent on the economic decisions and actions of respective governments and central banks.

Euro and INR Overview

The Euro and Indian Rupee overview statistics as under

Above is historical data showcasing Euro to INR currency exchange rate summary for the period 19th Oct 2022 to 15th July 2024.