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National standard format is yyyy-mm-dd. [161] dd.mm.yyyy format is used in some places where it is required by EU regulations, for example for best-before dates on food [162] and on driver's licenses. d/m format is used casually, when the year is obvious from the context, and for date ranges, e.g. 28-31/8 for 28–31 August.
In India, dates in astrology or religious purposes are written in a year-month-day format. [citation needed] The month-day-year (12/31/1999) in short format, is never used in India except regionally in Bodo. [citation needed] Mondays are the start of the week as per ISO 8601.
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.
The US dollar is widely held by central banks, foreign companies and private individuals worldwide, in the form of eurodollar foreign deposit accounts (not to be confused with the euro), as well as in the form of US$100 notes, an estimated 75% of which are held overseas. [1]
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]
The Indian government introduced the Gulf rupee as a replacement for the Indian rupee for circulation outside the country with the Reserve Bank of India (Amendment) Act of 1 May 1959. [105] The creation of a separate currency was an attempt to reduce the strain on India's foreign reserves from gold smuggling.
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The Federal Reserve initially succeeded in maintaining the value of the U.S. dollar and price stability, reversing the inflation caused by the First World War and stabilizing the value of the dollar during the 1920s, before presiding over a 30% deflation in U.S. prices in the 1930s.