As an immediate step in 1991, the rupee was:
ADoubled up
BDevalued
CAbolished
DGold pegged
Answer & Solution
Correct answer: B. Devalued
1. The balance of payments needed foreign exchange.
2. A cheaper rupee drew inflows.
3. The rupee was devalued.
_Source: NCERT Class 11 Economics, Indian Economic Development, Chapter 3, Liberalisation, Privatisation and Globalisation._
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