in 1991 as an immediate measure to resolve the balance of payment crisis ,the rupee was devalued against foreign currencies. what was its impact on indian economy at that time?

Dear student, 
Devaluation of rupee meant that the value of rupee fell in terms of foreign currency. This had a positive effect on the exports. This in turn, meant that inflow of foreign exchange in the economy increases.  This also helped in solving the problem of foreign exchange crisis. 


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