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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.
20 December - Government of India links Indian rupee with Pound sterling following the devaluation of United States dollar post Smithsonian Agreement. The rupee was pegged at par value of Rs. 18.9677 is to 1 £ and Pound was designated as the intervention currency. [8] The event marks the departure of Indian rupee from par value system to ...
In June 2021, India's foreign exchange reserves crossed the US$600 billion mark for the first time. [17] [18] India's total forex reserves touched an all-time high of US$642.453 billion on 8 September 2021. [19] The reserves declined to $598.89 billion by 8 September 2023 [20] & rose to hit a fresh all time high of $642.63 in March 2024. [21]
The Nixon shock was the effect of a series of economic measures, including wage and price freezes, surcharges on imports, and the unilateral cancellation of the direct international convertibility of the United States dollar to gold, taken by United States president Richard Nixon on 15 August 1971 in response to increasing inflation.
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]
How To Make My Honey Mustard Brussels Sprouts. For 3 to 4 servings, you’ll need: 1 pound Brussels sprouts. 1 1/2 tablespoons extra-virgin olive oil
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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...