Question : At present, Indian is following
Option 1: Fixed exchange rate
Option 2: Floating exchange rate
Option 3: Pegged up an exchange rate
Option 4: Pegged down the exchange rate
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Correct Answer: Floating exchange rate
Solution : The correct answer is Floating exchange rate.
India has undergone major economic reforms in 1991 also known as LPG reforms of Liberalisation, Privatisation and Globalisation. Since 1993 India is managing a floating exchange rate regime in which currency of the nation is set by the forex market based on the supply and demand of other currencies. In a managed floating exchange rate, the exchange rates are determined by the market forces but in case of excess volatility and instability Reserve Bank of India and Government comes in to stabilise it. It is beneficial for economic stability in India.
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