Question : In 1991, the Indian rupee was devalued in how many steps?
Option 1: Four times
Option 2: Three times
Option 3: Once
Option 4: Twice
Correct Answer: Twice
Solution : The correct answer is Twice.
In 1991, the Indian rupee was devalued in two steps . The Indian government devalued the rupee in July and again in July/August of 1991. These devaluations were aimed at boosting exports and addressing the external payment situation. The move was part of a broader set of economic liberalization measures for opening up the economy and attracting foreign investment.
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