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India's foreign exchange reserves consists of its holdings in major currencies such as the U.S. dollar, euro, and yen. India also holds a significant amount of gold, which serves as a hedge against inflation and currency depreciation. Special Drawing Rights (SDRs) allocated by the IMF, these can be used to supplement reserves.
India was forced to sell dollars to the extent of close to US$35 billion in the spot markets in Financial Year 2009 due to 22% depreciation in rupee (against the dollar) in the same fiscal year 2009. In 2009, India purchased 200 tonnes of gold from the International Monetary Fund , worth US$6.7bn (€4.57bn, £4.10bn).
Global analysts cut their forecasts of India's real GDP growth rate for the financial year 2016–17 by 0.5 to 3% due to demonetisation. [ 147 ] [ 148 ] India's GDP in 2016 is estimated to be US$2.25 trillion, hence, each 1 per cent reduction in growth rate represents a shortfall of US$22.5 billion (₹1.54 trillion) for the Indian economy. [ 149 ]
US dollar-Pakistani rupee exchange rate. Between 1948 and July 1955, the Pakistani rupee was effectively pegged to the U.S. dollar at approximately Rs.3/31 per U.S. dollar. Afterwards, this was changed to approximately Rs.4/76 per U.S. dollar, a devaluation of 30%, to match the Indian rupee's value. [29]
In mid-1991, India's exchange rate was subjected to a severe adjustment. This event began with a slide in the value of the Indian rupee leading up to mid-1991. The authorities at the Reserve Bank of India took partial action, defending the currency by expanding international reserves and slowing the decline in value. However, in mid-1991, with ...
IATA estimated that aviation contributed $30 billion to India's GDP in 2017, and supported 7.5 million jobs – 390,000 directly, 570,000 in the value chain, and 6.2 million through tourism. [ 259 ] As of 2024, There are 75 new airports have been built in the last ten years, taking the total count to 149 airports (include helipads and aerodromes).
The dollar sign, also known as the peso sign, is a currency symbol consisting of a capital S crossed with one or two vertical strokes ($ or depending on typeface), used to indicate the unit of various currencies around the world, including most currencies denominated "dollar" or "peso".
The Hindi language news channel NDTV India is a national news channel and has widespread viewership in India. [ 117 ] [ 119 ] The channel is closely associated with its editor-in-chief Ravish Kumar , the recipient of a number of distinguished awards including the Ramon Magsaysay Award and considered to be one of the most influential journalists ...