Thursday, August 15, 2013

Journey of Indian Re - the long and short of it

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.31.37

$1: Rs.40-50 during 2000-2010.

$1: Rs.61.80

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?