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).



Bell_curve

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.

econ

Does India still follow Gold Standard for its Currency Indian Rupee (INR)?

Coinsreporter

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. 

https://www.nipfp.org.in/media/medialibrary/2013/04/wp_2007_49n.pdf&ved=2ahUKEwiOidbrnOeHAxXMmq8BHXZiDzoQFnoECFwQBg&usg=AOvVaw3L6ABmzQ808IpH43pTe1ir