IMPACT OF RUPEE DEPRECIATION ON INDIAN ECONOMY
Journal: SCHOLARLY RESEARCH JOURNAL FOR INTERDISCIPLINARY STUDIES (Vol.4, No. 26)Publication Date: 2016-11-04
Authors : Suhas Avhad;
Page : 2914-2919
Keywords : Indian Economy; Inflation; Currency; Depreciation etc.;
Abstract
India being a developing economy with high inflation, depreciation of the currency is quite natural. Depreciation of rupee is good, so long as it is not volatile. A random depreciation that we have seen in the last few months is bad and it has hurt the economy. 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. India got freedom from British rule on Aug 15, 1947. At that time the Indian rupee was linked to the British pound and its value was at par with the American dollar. There was no foreign borrowing on India's balance sheet
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Last modified: 2016-11-12 17:41:25