Convert EUR to INR
EUR/INR touched a high of 89.030 on 18 August 2020. This is the highest level seen so far in 2020 for this currency pair.
Changes to the monetary policy and interest rates are key indicators that reflect the health of the economy. For instance, when the ECB eases its monetary policy or lowers interest rates, it signals that the Eurozone economy is in need of support. As a result, the confidence in the Eurozone economy reduces, weakening the Euro. On the other hand, when the ECB or the RBI hikes interest rates or adopts a more hawkish stance on the monetary policy, it strengthens the EUR or the INR respectively.
An increasing confidence among companies in Europe or India about the business outlook signifies prospects for stronger economic growth, and hence, increases the value of the Euro or the Indian rupee. When the business sentiment drops or turns negative, it indicates pessimism among companies about the state of the economy, which brings down the respective region’s currency.