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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.
The spot exchange rate is the current exchange rate, while the forward exchange rate is an exchange rate that is quoted and traded today but for delivery and payment on a specific future date. In the retail currency exchange market, different buying and selling rates will be quoted by money dealers. Most trades are to or from the local currency.
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A currency [a] is a standardization of money in any form, in use or circulation as a medium of exchange, for example banknotes and coins. [1] [2] A more general definition is that a currency is a system of money in common use within a specific environment over time, especially for people in a nation state. [3]
BST: Bangladesh Standard Time: UTC+06:00: BST: Bougainville Standard Time [6] UTC+11:00: BST: British Summer Time (British Standard Time from Mar 1968 to Oct 1971) UTC+01:00: BTT: Bhutan Time: UTC+06:00: CAT: Central Africa Time: UTC+02:00: CCT: Cocos Islands Time: UTC+06:30: CDT: Central Daylight Time (North America) UTC−05:00: CDT: Cuba ...
Since 1991, the rupee has been under a floating exchange rate regime. [94] The first major impact on the rupee's exchange rate after independence was the devaluation of the pound sterling against the US dollar in 1949, which impacted currencies that maintained a peg to the sterling, which included the Indian rupee. [95]
At the time of independence (in 1947), India's currency was pegged to pound sterling, and the exchange rate was a shilling and six pence for a rupee — which worked out to ₹13.33 to the pound. [23] The dollar-pound exchange rate then was $4.03 to the pound, which in effect gave a rupee-dollar rate in 1947 of around ₹3.30.
The North American Central Time Zone (CT) is a time zone in parts of Canada, the United States, Mexico, Central America, and a few Caribbean islands. [1]In parts of that zone (20 states in the US, three provinces or territories in Canada, and several border municipalities in Mexico), the Central Time Zone is affected by two time designations yearly: Central Standard Time (CST) is observed from ...