(a)reduction in the value of a currency vis-a-vis major internationally traded currencies
(b)permitting the currency to seek its worth in the international market
(c)fixing the value of the currency in conjunction with the movement in the value of a basket of predetermined currencies
(d)fixing the value of a currency in multilateral consultation with the IMF, the World Bank and major trading partners
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Class 11Liberalisation, Privatisation and Globalisation: An Appraisal— NCERT Economics, Chapter 3. In 1991 India faced an external debt crisis: foreign exchange reserves fell below two weeks of imports, prices rose, and no one would lend. Rooted in the fiscal and…
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