when can indian currency will equal the us dollars?
when can indian currency will equal the
Though at the time independence i.e., on 15th August 1947 the exchange rate between Indian rupee and US Dollar was equal to one (i.e., I US Dollar = 1 Indian Rupee).
Answer: Indian Rupee and american dollar may never equal.British pound will never equal dollar.Japan yen is not equal to dollar or euro.
Explanation: Do not compare exchange rate and internal value.We assume that:-If an american wants to have a cup of coffee he in USA he will have to pay 7 $ There.coffee in India u can get for Rs.7.Purchasing power is the same.If dollar is costly cost of all items also will be more.The exchange rate and purchase power are different.Internal value and external value of currency are different.The external value is due to demand and supply of the currency.abroad .Internal value is due to supply and demand for goods and services in India.