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The Nepali rupee has been tied to the Indian rupee at an exchange rate of 1.6 for many years. Per capita income is $1,004. [ 212 ] The distribution of wealth among the Nepalis is consistent with that in many developed and developing countries: the highest 10% of households control 39.1% of the national wealth and the lowest 10% control only 2.6%.
By comparison, 10 years earlier, the rate of exchange was only Z$9.13 per USD. In August 2006 the RBZ revalued the Zimbabwean Dollar by 1000 ZWD to 1 (revalued) dollar. At the same time Zimbabwe devalued the Zim Dollar by 60% against the USD. New official exchange rate revalued ZWD 250 per USD.
Averaging an economic growth rate of 7.5% for several years prior to 2007, [304] India has more than doubled its hourly wage rates during the first decade of the 21st century. [314] Some 431 million Indians have left poverty since 1985; India's middle classes are projected to number around 580 million by 2030. [315]
The U.S. unemployment rate peaked at 11.0% in October 2009, the highest rate since 1983 and roughly twice the pre-crisis rate. The average hours per work week declined to 33, the lowest level since the government began collecting the data in 1964. [34] [35] The economic crisis started in the U.S. but spread to the rest of the world. [29]
[373] [374] In late July, the Bank of Russia did increase its key rate by 100 base points to 8.50% in order to combat inflation that is still problematic for the Russian consumer and companies alike. [375] Due to the sanctions, Indian oil refiners started using Chinese yuan for payments of Russian oil imports as an alternative to the US dollar.
Bhutan's currency is the ngultrum, whose value is fixed to the Indian rupee. The Indian rupee is also accepted as legal tender in the country. Though Bhutan's economy is one of the world's smallest, [143] it has grown rapidly in recent years, by eight per cent in 2005 and 14 per cent in 2006. In 2007, Bhutan had the second-fastest-growing ...