Question

What was the exchange rate dollar and rupee on August 15, 1947?
a. Re. 1 = $1
b. Re. 5 = $1
c. Re. 15 = $1
d. Re. 30 = $1

Answer 1

None of the answers are correct.

In 1947 when India got its independence, there were no outside borrowings on the balance sheet of India.

Also, since India was under British rule, the rupee was pegged to the British pound from 1927 to 1966, where 13 rupees equalled to 1 pound.

Answer 2

Hi,

None of the answers are correct.