How Many Rupees in 1 Million Dollars

Introduction:

One million US dollars is equal to 8,28,36,350 or 8.28 crores in rupees. Conversely, the dollar is the currency used in over 20 countries. This post will guide you through converting million dollars to rupees. To get a general idea of the conversion, we should start by converting 1 USD to INR. This makes the conversion process easier to understand. One dollar is currently worth 82.84 Indian rupees. Using this, you can quickly determine the value of a million dollars in Indian rupees.

Conversion 1 Million Dollars in Rupees

One dollar equals 82.84 Indian rupees so you can write 1 dollar = 82.29 INR

• We know that 1 million = 10,000,000.

• To convert 1 million dollars into rupees, we need to multiply 10,000,000 by 82.84

• This is written as 10,00,000 x 82.84 = 8,28,36,350

So $1 million worth 8.28 crores or, it is eight crores twenty-eight lakhs ninety thousand in words.

Similarly, you can calculate the value of 2 million dollars in the Indian currency in the following way.

• One million dollars = $10,000,000,

• so two million dollars = $20,000,000

• so 2 million dollars is represented as $20,000,000.

• Now follow the steps to get one million dollars worth of rupees.

• So 20,00,000 x 82.84 = 16,56,80,000

• So $2 million in Indian rupees is $16.56 million.

So, you can easily convert one million dollars to Indian rupees by following the method above.

Indian Rupee:

The Indian rupee is the centralized currency of India and is governed by the Reserve Bank of India. A rupee is the sum of 100 paise. Currently, the 1 rupee coin is the smallest value of any currency used in India. The Reserve Bank of India administers this currency under the Reserve Bank of India Act of 1934. India's currency code is INR. Moreover, there was no Indian rupee symbol until 2010.

In 2010, "₹" was declared the official symbol for the Indian rupee. The symbol "R" is a combination of the Hindi consonant "ra" and the Latin capital letter R. However, the parallel lines across the top of the symbol represent the tricolor. Additionally, "Rs" and "Re" were used as symbols for the Indian rupee until 2010. RBI also prints values in 10, 20, 50, 100, 200, 500 and 2000 rupees notes. At the same time, coins are available in denominations of 1, 2, 5, 10 and 20.

The Indian government had announced that it will stop cashing 500 rupees and 1000 rupee notes to address the black money problem in November 2017. The government also ordered the RBI to print new Rs 500 and Rs 2,000 notes. Soon after, in 2017, new banknotes in denominations of 10 rupees, 20 rupees, 50 rupees, 100 rupees and 200 rupees were also ordered to circulate.

US Dollar:

The dollar is the official currency of the United States, also known as the US dollar or dollars. Moreover, the dollar first came into circulation in 1792 under the Coinage Act. One dollar equals 100 cents. 1 cent is equal to 1/100 of a dollar. The Federal Reserve System, the central bank of the United States, monitors the US currency.

US dollars are denominated in USD, and the US dollar symbol is "$". The US dollar strongly dominates other countries' currencies. The US dollar is one of the most popular currencies in international trade. However, the US dollar gained popularity after the global exchange was banned during World War I. At that time, the US dollar became the most efficient medium of exchange in trade. After that, the US dollar came to rule the world. Other countries, including India, also use dollars to value their currencies.

Conclusion:

One million equals 8.22 crores at present. But this value may vary with the change in Global Trading. The value of million to rupees keeps on fluctuating so we have to keep a tap on the most recent currency value to estimate the