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India followed a 'fixed exchange rate' system till the economic crisis of 1991.
At present India is following 'floating exchange rate'
following link will help you to understand:
(http://indianblogger.com/foreign-exchange-rate-determination-in-india/)
thank you
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∙ 12y ago
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Which exchange rate is following by India?
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What is the present GDP and GNP of India?
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You can't exchange Money for a Legend of Zelda currency...
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What is REER in exchange rate?
The real effective exchange rate based on real exchange instead of nominal exchange rate in foreign currency exchange.
How do you calculate exchange rate?
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