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VOL. 1, ISSUE 1 (2019)
Fall of rupee: Causes and impact
Authors
Vivek Kumar
Abstract
The rate at which one currency can be exchanged for another is called
the exchange rate. In 1947 the exchange rate of rupee against US $ (US Dollar)
was equal to Rs. 1 but thereafter the rupee started to looses their value. In
1948 to 1966 it was Rs. 4.79, in 1966 Rs. 7.50, in 1975 Rs. 8.39, in 1985 it
was Rs. 12.38 and in the year 1990 it was Rs. 17.0. After 1991, Indian Rupee
has been made freely convertible into or form foreign currencies. Now exchange
rate of Indian rupee with foreign currency is not fixed by the government;
rather it is fixed by the market forces of demand and supply of foreign
currency. Since 1991 there has been depreciation which has lowered the exchange
rate of rupee. On 28th August, 2013 the Indian Rupee (INR) has
reached to its minimum level at 68.79469 against US $ (US Dollar) whereas 4
months ago, it was just at 52. So a question always arise in mind that what has
caused such depreciation and what have been the impacts of such depreciation on
the Indian Economy.
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Pages:50-52
How to cite this article:
Vivek Kumar "Fall of rupee: Causes and impact". International Journal of Management and Economics, Vol 1, Issue 1, 2019, Pages 50-52
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