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The Pakistani rupee depreciated against the US dollar until around the start of the 21st century, when Pakistan's large current-account surplus pushed the value of the rupee up versus the dollar. Pakistan's central bank then stabilized by lowering interest rates and buying dollars, in order to preserve the country's export competitiveness.
For example 150,000,000 (one hundred and fifty million) rupees is written as "fifteen crore rupees", "₹ 15 crore". [1] In the abbreviated form, usage such as "₹ 15 cr" is common. [3] Trillions (in the short scale) of money are often written or spoken of in terms of lakh crore. For example, one trillion rupees is equivalent to: ₹ 1 lakh ...
[10] [11] India's overall social welfare spending stood at 8.6% of GDP in 2021-22, which is much lower than the average for OECD nations. [81] [82] With 586 million workers, the Indian labour force is the world's second-largest. [23] Despite having one of the longest working hours, India has one of the lowest workforce productivity levels in ...
As part of the Central Bank Digital Currency pilot project, Canara Bank has released the Unified Payments Interface compatible digital rupee mobile app. Without the need for a separate on-boarding procedure for CBDC for retailers, it will enable users to scan the existing UPI QR code and make payments using digital rupee.
The rupiah–dollar rate was at Rp2,436 to one dollar on 11 July. It fell to Rp2,663 by 14 August and Rp2,955 by 15 August – a 122% fall. Government debt (Bank Indonesia Certificates or SBI) rose from 12% to 30%, and overnight call rates reached 81% (per annum).
As a consequence, conversion rates between different currencies could be determined simply from the respective gold standards. £1 sterling was equal to US$4.87 in the United States, Can$4.87 in Canada, ƒ12.11 in Dutch territories, F 25.22 in French territories (or equivalent currencies of the Latin Monetary Union), 20ℳ 43₰ in Germany ...
Around 77.7 crore (777 million) Indian consumers shopped cross-border in 2021. To make payments easier, NPCI International Payments Limited (NIPL) signed a memorandum of understanding (MoU) with UK-based PPRO Financial on 17 November 2021 to expand the acceptance of RuPay in foreign markets, especially in China and United States, which account for half of all international transactions coming ...
According to the 2011 census, there were 10.1 million child labourers in the country, a decline of 2.6 million from 12.6 million in 2001. [ 354 ] Since 1991, economic inequality between India's states has consistently grown: the per-capita net state domestic product of the richest states in 2007 was 3.2 times that of the poorest. [ 355 ]