Context
The Indian rupee breached the exchange rate level of 80 to a US dollar with growing concerns about a weaker rupee affecting the broader economy.
Background
What is the rupee exchange rate?
Types of Exchange rates
The pegged exchange rate or the fixed exchange rate system is referred to as the system where the weaker currency of the two currencies in question is pegged or tied to the stronger currency.
Flexible exchange rate system is also known as the floating exchange rate system as it is dependent on the market forces of supply and demand. |
Why are the rupee-dollar exchange rate and Forex reserves falling?
Impacts on the Economy
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