Economics · Indian Economy
Consider the following statements regarding exchange rate reforms in India: (i) India adopted the Liberalised Exchange Rate Management System (LERMS) in 1992. (ii) In 1993, the dual exchange rate system was replaced by a unified floating exchange rate system. Identify the correct statement(s):
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Both statements (i) and (ii) are incorrect
- 2Both statements (i) and (ii) are correct✓
- 3Statement (i) is incorrect, but (ii) is correct
- 4Statement (i) is correct, but (ii) is incorrect
Correct answer
Both statements (i) and (ii) are correct
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