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An anna (or ānna) was a currency unit formerly used in British India, equal to 1 ⁄ 16 of a rupee. [1] It was subdivided into four pices or twelve pies (thus there were 192 pies in a rupee). When the rupee was decimalised and subdivided into 100 (new) paise , one anna was therefore equivalent to 6.25 paise .
The national economy contracted in July 1991 as the Indian rupee was devalued. [31] The currency lost 18% of its value relative to the US dollar, and the Narsimham Committee advised restructuring the financial sector by a temporal reduced reserve ratio as well as the statutory liquidity ratio. New guidelines were published in 1993 to establish ...
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.
India, officially the Republic of India, [j] [20] is a country in South Asia.It is the seventh-largest country in the world by area and the most populous country.Bounded by the Indian Ocean on the south, the Arabian Sea on the southwest, and the Bay of Bengal on the southeast, it shares land borders with Pakistan to the west; [k] China, Nepal, and Bhutan to the north; and Bangladesh and ...
The unemployment rate among the aged 15 and over population is 5.5%. [406] Pakistan has an estimated 40 million middle class citizens, projected to increase to 100 million by 2050. [ 407 ] A 2015 report published by the World Bank ranked Pakistan's economy at 24th-largest [ 408 ] in the world by purchasing power and 41st-largest [ 409 ] in ...
On this basis, currency fluctuations and nominal numbers become less important, the definition is based on the local costs of a basket of essential goods and services that people can purchase. By World Bank's 2014 PPP definition, India's poverty rate is significantly lower than previously believed. [40] Mixed, semi-economic and non-economic ...
The quarter, formally known as the quarter dollar, is a coin in the United States valued at 25 cents, representing one-quarter of a dollar.Adorning its obverse is the profile of George Washington, while its reverse design has undergone frequent changes since 1998.
It introduced a second higher rate of 15% in 2013, reduced to 13% in 2015, 11% in 2016, and eliminated in 2020, thus returning to a flat tax of 9%. [117] It reintroduced a second higher rate of 15% in 2022. [118] Russia introduced a flat tax of 13% on personal income in 2001, and a second higher rate of 15% in 2021. [119] [13]