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This is a list of tables showing the historical timeline of the exchange rate for the Indian rupee (INR) against the special drawing rights unit (SDR), United States dollar (USD), pound sterling (GBP), Deutsche mark (DM), euro (EUR) and Japanese yen (JPY). The rupee was worth one shilling and sixpence in sterling in 1947.
At the end of 1969, the Indian Rupee was trading at around 13 British pre-decimal pence (1s 1d), or Rs. 18 = £1. A decade later, by 1979, it was trading at around 6 British new pence (6p). Finally, by the end of 1989, the Indian Rupee had plunged to a then-all-time low of about four British pence (4p).
Bureau of Intelligence and Research of the U.S. State Department; Institute of National Remembrance, a Polish research institute; Institute for Nuclear Research of the Russian Academy of Sciences
The Indian Rupee was one of the currencies of the sterling area. The sterling area (or sterling bloc, legally scheduled territories) [1] [2] was a group of countries that either adopted or pegged their currencies to the pound sterling.
Officially, the Indian rupee has a market-determined exchange rate. However, the Reserve Bank of India trades actively in the USD/INR currency market to impact effective exchange rates. Thus, the currency regime in place for the Indian rupee with respect to the US dollar is a de facto controlled exchange rate.
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Events in the year 1989 in the Republic of India. 1989 was a very important year in the history of World and India. That was the year in which Berlin Wall was brought down and Tiananmen Square protests happened.
Changes in the Fed's policy rates can have a direct impact on the Indian market through various channels. Rate hikes by the Fed tend to strengthen the U.S. dollar against other currencies, including the Indian rupee, which increases the debt servicing costs for Indian borrowers with loans in foreign currency.