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The trade at border haats is permitted to be carried out either on a barter basis or in Indian Rupees and the currency of country with which border is shared, for example, Indian Rupee and Bangladesh Taka on India-Bangladesh border. Data of barter trade is maintained by the Haat Management Committee of the respective border haat.
The auctions for team ownership were held on 24 January 2008. The base price of each team was set at US$ 50 million. The auction fetched a total amount of US$ 723.59 million against the combined base price of US$ 400 million. Mumbai was the most expensive team, costing over US$ 111.9 million.
The fall of the Eastern Bloc, which had trade relations with India and allowed for rupee exchange, posed significant issues. Towards the end of 1990, leading up to the Gulf War, the situation became dire. India's foreign exchange reserves were not enough to finance three weeks' worth of imports.
However, they picked speed and scale in 1990s due to long gestation period, WTO evolution and overall global trade growth. By 1991, India still had a fixed exchange rate system, where the rupee was pegged to the value of a basket of currencies of major trading partners. Although a fixed exchange rate system helped India to achieve currency ...
This is a list of tables showing the historical timeline of the exchange rate for the Indian rupee (INR) against the special drawing rights unit (SDR), United States dollar (USD), pound sterling (GBP), Deutsche mark (DM), euro (EUR) and Japanese yen (JPY). The rupee was worth one shilling and sixpence in sterling in 1947.
India was forced to sell dollars to the extent of close to US$35 billion in the spot markets in Financial Year 2009 due to 22% depreciation in rupee (against the dollar) in the same fiscal year 2009. In 2009, India purchased 200 tonnes of gold from the International Monetary Fund , worth US$6.7bn (€4.57bn, £4.10bn).
The Digital Rupee (e₹) [39] or eINR or E-Rupee is a tokenised digital version of the Indian Rupee, issued by the Reserve Bank of India (RBI) as a central bank digital currency (CBDC). [40] The Digital Rupee was proposed in January 2017 and launched on 1 December 2022. [ 41 ]
In the year 2024–2025, gold and its finished items (HS code 71) were the second-largest traded items with 558.465 billion US$ worth imports and 41.692 billion US$ worth re-exports after value addition, and a significant amount of this Gold is being imported from Japan as Gold Chemical Compounds to save duty and import tax free under India ...
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