| Headlines such as "The rupee has appreciated or depreciated 30 paise against the dollar..." appear on a daily basis. Such reports on currency invariably attribute the reasons for currency movement to a government decision, uncertainty in markets, or perhaps even a controversy.
This piece is about knowing the actual value of the rupee. In India, the de facto way to measure the rupee's value is to compare it to the US dollar. When was the last time you heard of the rupee being valued against the Japanese Yen, despite the fact that Japan has the 3rd largest economy in the world?..............................................Full Article: Source
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