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Data from 1971 to 1991–92 are based on official exchange rates. Data from 1992 to 1993 onward are based on FEDAI (Foreign Exchange Dealers' Association of India) indicative rates. Data from 1971 to 1972–73 for the Deutsche Mark and the Japanese Yen are cross rates with the US Dollar. The Euro replaced the Deutsche Mark w.e.f. January 1, 1999.
In 2009, India purchased 200 tonnes of gold from the International Monetary Fund, worth US$6.7bn (€4.57bn, £4.10bn). [15] In June 2020, India's foreign exchange reserves crossed the US$500 billion mark for the first time. [16] In June 2021, India's foreign exchange reserves crossed the US$600 billion mark for the first time. [17] [18]
Thus, the currency regime in place for the Indian rupee with respect to the US dollar is a de facto controlled exchange rate. This is sometimes called a "managed float". On 9 May 2022, the Indian Rupee traded at ₹77.41 against the US dollar, hitting an all-time low. [79]
15 August - In wake of Nixon shock Government of India announces that, United States dollar - Indian rupee par value at Rs. 7.50 for 1 $ would remain unchanged and left Pound sterling floating by stopping the support operations. [2] [3] 25 August – The former East Pakistan and eastern Bengal are flooded; thousands flee the area.
India uses changes in the CPI to measure its rate of inflation. The WPI measures the price of a representative basket of wholesale goods. In India, this basket is composed of three groups: Primary Articles (22.62% of total weight), Fuel and Power (13.15%) and Manufactured Products (64.23%).
Pearlman used the NGC Price Guide to estimate the current retail value of a 1955 Doubled Die Lincoln cent at a range from $1,000 in worn “About Good” condition to $85,000 in Mint State 66 with ...
The Indian rupee was the official currency of Dubai and Qatar until 1959, when India created a new Gulf rupee (also known as the "external rupee") to hinder the smuggling of gold. [16] The Gulf rupee was legal tender until 1966, when India significantly devalued the Indian rupee and a new Qatar-Dubai riyal was established to provide economic ...
U.S. coins worth five cents have been around since 1794, but they were called "half dimes" during the early decades. The term "nickel" wasn't (um) coined until 1866, though the smaller half dime...