Cryptocurrency Q&A
What was the exchange rate in 1947?
What was the exchange rate in 1947?
CryptoProphet
Tue Jan 21 2025
|
5
answers
947
I am trying to find out the exchange rate in the year 1947. I need this information for a project I am working on and would appreciate any help in locating this data.
5 answers
Lorenzo
Thu Jan 23 2025
Upon gaining independence in 1947, India adopted the Indian Rupee as its official currency.
Was this helpful?
109
30
CryptoNerd
Thu Jan 23 2025
Initially, the value of the Indian Rupee was tied to the British Pound. This decision was made to ensure economic stability as the nation transitioned from colonial rule.
Was this helpful?
304
49
CryptoTitan
Wed Jan 22 2025
During this period, the exchange rate between the Indian Rupee and the British Pound was fixed. This meant that the value of the Rupee did not fluctuate in relation to the Pound.
Was this helpful?
141
68
Pietro
Wed Jan 22 2025
In turn, the INR/USD rate was approximately 4.16. This fixed exchange rate system provided a sense of certainty for businesses and consumers alike.
Was this helpful?
126
47
Emanuele
Wed Jan 22 2025
The relatively stable exchange rate was a reflection of the nascent stage of the Indian economy. With a newly formed government and a developing economy, stability was seen as crucial for growth.
Was this helpful?
267
61
