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Determining Devaluation of Currency | International Finance

The following points highlight the two main approaches for determining devaluation of currency. The approaches are: 1. The Elasticity Approach 2. Absorption Approach. 1. The Elasticity Approach:   In fact, the success of devaluation in improving the balance of trade position of a country depends on the fulfilment of a condition known as the Mar- […]

History of Indian Currency: 5 Periods

The following points highlight the five well-defined periods in history of Indian currency. The periods are: 1. 1835-1897-The Silver Standard 2. 1898-1917-The Gold Exchange Standard 3. 1917-1927 —The period of Managed Exchange 4. 1927-1931-The Gold Bullion Standard 5. Sep. 1931-1947-The Sterling Exchange Standard. 1. Period of 1835-1879 —The Silver Standard: Before India came under the […]

History of the Paper Currency in India: 3 Periods

The following points highlight the three distinct periods of paper currency in the history of India. The periods are: 1. Paper Currency Prior to 1861 2. Paper Currency between 1861 to 1919 3. Paper Currency after 1919. 1. Paper Currency Prior to 1861: Prior to 1861, the right of note-issue belonged to private banks, there […]

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