New Zealand dollar to Indian rupee exchange rates

The lowdown on the Indian rupee

Economical Influences and the Indian Rupee

Ancient Indians were some of the earliest adopters of coins, and the first to be minted were in the 6^th century BC by the Mahajanapadas (republic kingdoms) of ancient India.

Hundreds of years later, in 1526 AD, a new era in India began with the start of the Mughal Empire, and the introduction of a more unified and sophisticated monetary system. Sher Shah Suri set up a new civic and military administration, and issued a silver coin named the rupiya, which translates into English as ‘wrought silver, a coin of silver’.

Coin production continued in the 20^th century as the British Empire began to colonise the country. In August 1950, three years after the country gained independence, the portrait of the British King George VI was replaced with an engraving of Ashoka’s Lion Capital of Sarnath and the Republic of India’s first coinage was coined.

1957 ushered in the introduction of a decimal series, and the rupee was divided into 100 paisa instead of 16 annas. The coins came in 1, 2,5 and 10 denominations and were all shaped differently in order to assist the blind.

In 1996, the Reserve Bank of India introduced the Gandhi Series of banknotes, and the iconic leader and civil rights pioneer has adorned every new note issued since. The reverse of the various notes pay tribute to Indian wildlife, history, and agriculture, featuring everything from elephants and tigers to a tractor and an oil rig.

Indian Rupee Historical Market Exchange Rate

Over the past decade the Indian rupee has weakened consistently against the New Zealand dollar; with the exception of mid-2015 when it recovered slightly.¹

At its strongest, at the start of February 2017, 1 NZD was converting to 24.79 INR. At its weakest, in early September 2013, 1 NZD was converting to approximately 53.33 INR.¹

By 24th September 2015 the rupee had improved, with the NZD now converting to 41.53532 INR.¹

At the end of July 2016 1 NZD was worth around 48.15 INR, remaining stable over the following months to convert to 44.06617 INR per NZD by 12th May 2017. There were a few fluctuations but by 8th December 2017 1 NZD had reverted back to around 44.06 INR.¹

As of 6th November 2018 1 New Zealand dollar was converting to roughly 48.60 Indian rupees.¹

Learn more about the INR before you travel to India and create a currency rate alert so we can notify you when it hits the rate you want.

^Sources:

^{1. https://www.xe.com/currencycharts/?from=NZD&to=INR&view=5Y}

^{*Data correct as of 6 November 2018.}