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In which year the Indian rupee was devalued two times within a month?
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- 1990
- 1991
- 1994
- 1999
Correct Option: B
In 1991, India faced a serious balance of payment crisis and was forced to sharply devalue its currency. The country was in the grip of high inflation, low growth and the foreign reserves were not even worth to meet three weeks of imports.
Under these situations, the currency was devalued to 17.90 against a dollar.
