The Indian Rupee-US Dollar Exchange Rate: The Economic Impact of a Strengthening Currency

Case Code: ECON025 Case Length: 21 Pages Period: 2007 Pub Date: 2008 Teaching Note: Not Available

Price: Rs.400 Organization : - Industry : - Countries : India Themes: Economics, Politics and Business Environment

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Background Note

In India, the RBI had always played an active role in the foreign exchange market. However, since the country faced a severe balance of payments (BOP) crisis in the early 1990s, there was a greater understanding of the importance of the rupee-dollar exchange rate on the economy. With reserves down to only around $ 1 billion in mid-1991, caused partly due to a fall in exports and also due to a decline in remittances (following the Gulf war), the country was close to defaulting on its debt repayments. The Indian government then negotiated with the IMF for SDR of around $ 2 billion to stave off any external debt crisis...

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