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Fixed Exchange Rate System

Dual exchange...

Question

Dual exchange rate was introduced in _______.

A

1992-93

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B

1989-90

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C

1999-2000

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D

1993-94

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Solution

The correct option is A 1992-93
According to the RBI "The Liberalised Exchange Rate Management System (LERMS) was put in place in March 1992 involving the dual exchange rate system in the interim period. The dual exchange rate system was replaced by a unified exchange rate system in March 1993".

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