Journey of Indian Rupee: the long and short of it.
For 14 years rupee was linked to British currency.
1948-1966: US$1: Rs. 4.79
1966: $1: Rs.7.57
1971 rupee was directly linked to US$.
1975 rupee got linked to three major currencies: US$, Japanese Yen and German Mark.
1985: $1: Rs.12
1990- $1: Rs.13
1991: $1: Rs.17.90
1993: Exchange rate freed for market to take its course.
$1: Rs.40-50 during 2000-2010.
What a fall my countrymen?
Speed of action required to:
Fight endemic corruption and promote institutional wealth and punish endemic corruption. Would the next elections do these?