Practicing Success
What was the immediate measure taken in the foreign exchange market in 1991 to resolve the balance of payments crisis in India? |
Imposition of import quotas Increase in foreign direct investment Loans from the World Bank None of the above |
None of the above |
In 1991, as an immediate measure to resolve the balance of payments crisis, the Indian government devalued the rupee against foreign currencies. This devaluation aimed to increase the inflow of foreign exchange and improve the country's external financial position. |