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Explain Liberalization reforms in foreign exchange …

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Explain Liberalization reforms in foreign exchange rates.
  • 1 answers

Preeti Dabral 3 years, 1 month ago

Foreign exchange reforms were initiated in 1991 with the devaluation of the Indian rupee against foreign currencies. Consequently, a US dollar or an English pound could be exchanged for more rupees than before, implying that a US dollar or an English pound can buy more goods in the Indian market.

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