Discussion
Under the Bretton Woods system, as a member of the IMF, India declared the par value of the rupee in terms of
Answer: B
It was in terms of gold.
Under Bretton Woods each member declared a par value for its currency in gold or in US dollars of the 1944 gold content. India declared the rupee's par value in gold, and the system held until the dollar's convertibility ended in 1971.
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