Cryptocurrency Q&A
What is the exchange rate system in India?
What is the exchange rate system in India?
Fri Jan 10 2025
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5
answers
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I am interested in understanding the exchange rate system in India. Could someone please explain how the exchange rate system works in India and what factors influence it?
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5 answers
Sun Jan 12 2025
This arrangement lasted for several years until the 1970s and 1980s, when the system shifted to a basket of currencies.
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Sun Jan 12 2025
During this period, the value of the Indian Rupee was determined by a weighted average of several major currencies.
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Sun Jan 12 2025
In 1993, a further transformation took place, moving to a market-determined exchange rate regime.
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Sun Jan 12 2025
India's exchange rate system has undergone significant transformations since gaining independence six decades ago.
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Sun Jan 12 2025
Initially, the Indian Rupee was tied to the UK Pound under a fixed exchange rate regime.
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