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Foreign-exchange reserves is generally used to intervene in the foreign exchange market to stabilize or influence the value of a country's currency. Central banks can buy or sell foreign currency to influence exchange rates directly. For example, if a currency is depreciating, a central bank can sell its reserves in foreign currency to buy its ...
Foreign companies invest directly in fast growing private auspicious businesses to take benefits of cheaper wages and changing business environment of India. Economic liberalisation started in India in wake of the 1991 economic crisis and since then FDI has steadily increased in India, [ 1 ] [ 2 ] which subsequently generated more than one ...
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 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%.
The national economy contracted in July 1991 as the Indian rupee was devalued. [29] The currency lost 18% of its value relative to the US dollar, and the Narsimham Committee advised restructuring the financial sector by a temporal reduced reserve ratio as well as the statutory liquidity ratio. New guidelines were published in 1993 to establish ...
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. [40] [41] The economic crisis started in the U.S. but spread to the rest of the world. [35]
The official exchange rate was ₱2 against the U.S. dollar from 1946 to 1962, devalued to ₱3.90 in 1962, and devalued again to ₱6.43 in 1970. Black market exchange rates during these periods, however, were nearly always higher than official rates. Several depreciations followed:
For the years 2001–3, Tajikistan's inflation rates were 33%, 12.2%, and 16.3%, respectively, but in 2004 the rate fell to 6.8%, and the rate for 2005 was 7.1%. In late 2006, inflation approached the 10% level. The official forecast for 2007 is 7%. [20]