Convert INR to EUR or EUR to INR at the real time exchange rate with free SBNRI Currency Convertor.
1 INR to EUR Today
|1 Indian Rupee= 0.01 Euro|
SBNRI has partnered with Nium: Global Payment Services to facilitate instant online funds transfer to India at a minimal cost.
Indians frequently visit Europe whether it is for holidays or study and jobs. Thus remittance from India to Europe or vice versa is pretty common. When you spend or send money from one location to another, it is important to check the currency exchange rate in real time to ensure how much the beneficiary will get. Let’s find out the trend of INR to EUR conversion and factors that impact the currency exchange rates.
INR to EUR Currency Exchange Rate: Trend in March 2023
|MARCH 2023 Rate||Currency Exchange Rate: INR to EUR|
|1st March||0.01 EUR|
|31st March||0.01 EUR|
|Highest Rate||0.01 EUR (9 March)|
|Lowest Rate||0.01 EUR (23 March)|
NRIs living in Europe or other countries where Euro is used can easily transfer money to their loved ones in India or other way around through the SBNRI. SBNRI has a tie-up with remittance service providers to facilitate instant online money transfer to/ from India at a nominal cost. You can use the currency converter to find out INR to EUR or EUR to INR conversion rate in seconds, before sending money to or from India.
TCS at the rate of 5% is applicable money transferred outside India under the Liberalised Remittance Scheme (LRS) of the RBI. However, NRIs can save TCS on foreign remittance.
The Factors Impact Currency Exchange Rate
There are various factors that affect the exchange rate. The forex market is the largest market in the world where currencies are traded almost all the time. External factors, like inflation in a country, affect the currency exchange rate. When inflation lowers, the currency appreciates.
Many other factors like interest rates, balance of payments, supply of money, etc. also affect the rate of exchange. Economic, political and social conditions in a country also influence the value of its currency. Currency of a country that is politically and economically stable is preferred by investors globally.
With an increase in exports of goods and services of a country, its currency strengthens. The balancing of imports with exports is a very essential factor to determine the strength and value of the currency. Exchange rates fluctuate everyday due to underlying factors.
We at SBNRI, track these changes on a regular basis to help you with your investments and remittances. Connect to our experts using the button below or download SBNRI App to get advisory on choosing the best time to remit money to/ from India capitalizing on the best exchange rates for INR to EUR or other way around. You can also get insights into the tax implication of remittance. Also, visit our blog and YouTube channel for more details.