Economics · Economy
In 1966, the Indian government declared a 'Devaluation' of the Indian Rupee. What did this action mean?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1The Rupee was pegged directly to the value of Gold
- 2The Rupee was replaced by a new currency system
- 3The value of the Rupee was deliberately lowered against major foreign currencies like the Dollar✓
- 4The value of the Rupee was increased
Correct answer
The value of the Rupee was deliberately lowered against major foreign currencies like the Dollar
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