Multiple choice

When was the Indian rupee devalued for the first time?

  1. In 1947

  2. In 1948

  3. In 1949

  4. In 1966
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

The Indian rupee was first devalued in 1949 when the British pound sterling was devalued, and India being part of the sterling area had to follow suit. This reduced the rupee's value from 1 shilling 6 pence to 1 shilling 4 pence per rupee. The 1966 devaluation was a later, more significant event.

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