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11 sats \ 2 replies \ @Bell_curve 9 Aug \ parent \ on: Does India still follow Gold Standard for its Currency Indian Rupee (INR)? econ
Is Rupee a fixed rate or floating rate currency?
Since 1993, India's currency regime is said to be a managed float, a “market determined exchange rate” in the sense that there is a currency market and the exchange rate is not visibly administratively determined.
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A gold standard depends on fixed rates.
Bretton Woods mandated fixed rates. By ending Bretton Woods in 1971, US dollar converted to floating rate (determined by the currency market).
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