At the time of economic crisis in 1991, what happened to the forex reserves of the country?
Answer & explanation
Correct answer: option 2
The correct answer is option 2: Dropped to levels that were not sufficient for even fortnight imports
In 1991, the country met with an economic crisis, relating to external debt, forex dropped to the level that were not sufficient for even fortnight. The crisis was further compounded by rising prices of essential goods. All these led the government to introduce a new set of policy measures.