alleryStart learning →During the 1991 crisis the rupee depreciated against the US dollar by:
A18 per cent
B6.6 per cent
C51 per cent
D26.7 per cent
Answer & Solution
Correct answer: D. 26.7 per cent
1. Foreign reserves covered only weeks of imports.
2. The rupee fell 26.7 per cent.
3. A separate 18 per cent devaluation came in July 1991.
_Source: syllabus Business Studies, Chapter 3, Business Environment._
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