In the 1950s and 60s, the Rs was relatively stable against the Dollar, with an exchange rate of around 4.76 Rs per Dollar. But as India's economy started to grow and industrialize, the Rs began to appreciate against the Dollar. It was a good time for India, with a strong currency and a booming economy!
But then, in the 1970s and 80s, things took a turn for the worse. India faced high inflation, trade deficits, and a weak economy, which caused the Rs to plummet against the Dollar. It was a tough time for India, with a weak currency and a struggling economy. The exchange rate succumbed to 16 Rs per Dollar in 1985!
