Manytimes I found myself confused when it comes to the conversion of US dollars into Indian currency, especially when they are in millions. In this new world people have mixed Indian way of counting or Place Value System(PVS) with US currency place value system. Recently I was amazed to see one of the top IT companies stating its turnover as 90B. I was like woooooo… how come they are next to Microsoft then I read between the lines and found that it was 90 B INR and I was shocked again. We dont have Billions in our Indian currency place value system then how can they use it. I understand that in today global marketplace we have to follow the global route but if thats the case then this company would have converted the turnover into USD and not misled people by mashing both Indian and US currency system. So a 90 B INR would have been represented like either $2B or INR 9000 Crore and they both look impressive. Not sure why they opted for the confusing sytem but this type of practise, from one of a top IT company, comes as a huge surprise.
Any ways I have made a comparision chart or INR and USD below. It might be of some help.
Place value chart for INR
|Place value chart for USD
THTC TL HT HTO
|T HTB HTM HTT HTO
|Ounce - (0-0)
Tens - (1-0s)
Hundred - (2-0s)
Thousand - (3-0s)
Ten Thousand - (4-0s)
Hundred Thousand - (5-0s)
Million - (6-0s)
Ten Million - (7-0s)
Hundred Million - (8-0s)
Billion - (9-0s)
Ten Billion - (10-0s)
Hundred Billion - (11-0s)
Trillion - (12-0s)
So a simple calculation of both the currency values can be done from the above table but for the conversion of USD into Rs or vice versa we have to take the conversion rate or USD, as of now at the time of writing this blog; it is 45 Rs, which means I USD = 45 INR. Lets take few examples.
90K USD = 90K(see table above) x 45 = 4050 K INR = 40 lakh INR
200K USD = 2 lakh x 45 = 90 lakh INR
730K USD = 7.3 lakh x 45 = 328 lakh INR = 3.28 crore INR
55M USD = 550 lakh x 45 = 24750 lakh INR = 247 crore INR
100M USD = 10 crore x 45 = 450 crore INR
560M USD = 56 crore x 45 = 2520 crore INR
2 B USD = 200 crore x 45 = 9000 crore INR
26 B USD = 2600 crore x 45 = 117000 crore INR
It might be quite overwhelming so just in case you are looking for a short cut, try typing ”$55 million in INR” in google and you will get the result in INR(but in billions). And as per the table above 1B = 100 crore, so now you can convert it into crores.