![]() ![]() March 1993: Unified exchange rate: $1 = INR 31.37.March 1992: Dual exchange rate, Liberalized Exchange Rate Management System.July 1991: Indian Rupee devalued by 18-19 %.Although the basket is periodically altered, the link is maintained until the 1991 devaluation. 1975: India links Rupee with a basket of currencies of major trading partners.23 June 1972: the UK floats Pound, India maintains a fixed exchange rate with Pound.1971-1979: The Indian Rupee is overvalued due to India’s policy of import substitution.20 December 1971: Indian Rupee is pegged to pound sterling again. ![]()
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