Before independence on 1917 our Indian one rupee is equal to 11.50 USD. Surprising isn't it?

In the year 1947 one Dollar is equal to 1 Indian Rupee. Afterwards, the value of Indian Rupee steadily declined and reached 48 rupees to 1 US Dollar. In the period 2000–2007, the Rupee stopped declining and stabilized ranging between 1 USD = INR 44–48. In late 2007, the Indian Rupee reached a record high of Rs.39 per USD, on account of sustained foreign investment flows into the country. 

Click here to view the Dollar - Rupee exchage rates right from the years 1913.