Question

what was the exchange rate dollar and rupee on August 15 1947?

Answer 1

At the time when India gained independence in 1947, there were no debts to be found in the Indian balance sheet so the value of both currencies were at par.

The Indian rupee was fixed to the British pound as one rupee = one shilling and sixpence.

It is assumed that then the British pound = 4 USD (approx).

So 1 USD was more than 3 rupees.

Answer 2

The correct answer for your question is approximately more than three rupees is equal to one Dollar of United States back in 1947.

There were no borrowing and hence there were no depts during the time of our independence from the British rule. More than that, the value of Indian Rupee was compared with British pounds until 1966. According to reports, one British pound is equal to 13 rupees at that time where one British pound is equal to four United States Dollars. Here, we can conclude that the Indian rupee is nearly equal to one USD during the Independence.