In 1991 the Indian rupee was devalued in how many steps ........

General Studies (CPO) Indian Economy

In 1991, the Indian rupee was devalued in how many steps?

This questions was previously asked in

SSC CPO 9th Nov 2022 Shift 3

Four times

Three times

Once

Twice

- In 1991, India faced a balance of payments crisis.

- To address this, the Indian government devalued the rupee.

- The devaluation process occurred in two distinct steps.

- The first devaluation took place on July 1, 1991, by about 9%.

- The second devaluation followed on July 3, 1991, by approximately 11%.

- This was part of broader economic reforms to stabilize the economy.

Option: 4, Twice

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