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Economic Reforms since 1991 (LPG) · Question 22 of 65

Question 22

MediumOriginal question

In 1991, as a first step in foreign exchange reform, the rupee was

Options for question 22

Show the answer and explanation
CorrectNot quiteAnswer C

Correct answer: C

Explanation

  1. Devaluation made Indian goods cheaper abroad and brought in more foreign exchange.

  2. Later, the market was allowed to set the exchange rate, with the RBI stepping in only at times.

Concept
Foreign exchange reforms
Typical time
70 s
Your time
—
The rule this testsLiberalisation
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Ten questions from Economic Reforms since 1991 (LPG), at your own pace.

Practise this chapter →

Ten questions from Economic Reforms since 1991 (LPG), at your own pace.

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