There are also enough indicators where a case can be made that we have not done as well as we should have. A popular outrage to share these days on Facebook and Twitter is how the Indian rupee which was equal to 1 US dollar on 15th, August has fallen to the recent lows. An IANS news wire picked up by multiple newspapers also mentioned this very interesting 'fact'.

Interestingly Narendra Modi's speech writers also fell for the same error recently. The source of these seems to be this wikipedia article which mentions this exchange rate but does not cite any references in support of the number.

The graph given next to the section starts in the 90s. A good account of the two devaluations of and is given in this paper by Johri and Miller. The peg to the pound was at INR That means officially speaking the USD to INR rate would be closer to Rs 4. InIndia changed the peg to dollar at INR 7. Surely, the exchange rates are not very meaningful when the currencies are fixed by governments and the unofficial rates would be usually even worse given the pressure British Pound was under post world war 2.

When I encountered this message, my main objection was that the exchange rate of a currency is not really an indication of its strength.

I am sure it is nobody's contention that India of is worse off than India of If low borrowings made up for strong currencies then North Korea might have been a front runner. Ambedkar made strong arguments for not fixing exchange rates long before independence and they remain valid till date. As National livestock market report had mentioned, a stable currency is what matters rather than the absolute exchange rate.

There are much better statistics to track progress of the country since independence.

We inherited a economy struggling at a growth rate of just 0. Life expectancy at birth has more than doubled from Point being, that we don't have to resort to fictitious numbers to forex support and resistance indicator free download for or against any position. Snuff greasy hair makes money blogspot a Portugese-Maratha war article on wikipedia was found to be a hoax.

Exchange rate inr to usd in 1947 I repeated an oft-used line of Kashmir having been sold to Gulab Singh in in a previous article but noticed later when reading the actual Treaty of Amritsar that the word Kashmir is not to be found there.

Kashmir is just one of the region within the boundary allocated by the British and the treaty is not particularly about Kashmir. Over years, we have an inherent respect and trust for the written word. In the non-digital age, printing was expensive and restricted and the written word earned it's respect because of the care people invested in it before printing it.

History of the rupee - Wikipedia

The digital age has democratised and commoditised printing. Our habits and trust still belong to the non-digital age. The only lesson to draw here is to check sources and not believe everything written on a webpage.

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