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Exchange rate policy: In which year was the rupee’s link to the pound sterling as an intervention currency broken? State the year India moved away from single-currency intervention to a basket-based approach.

Q: Exchange rate policy: In which year was the rupee’s link to the pound sterling as an intervention currency broken? State the year India moved away from single-currency intervention to a basket-based approach.

Background India discontinued using the pound sterling as the sole intervention currency and shifted to a basket-based approach in 1975, reflecting global currency realignments. Final Answer 1975

Difficulty: Easy

1966
1971
1975
1991

Correct Answer: 1975

Explanation:

Background
India discontinued using the pound sterling as the sole intervention currency and shifted to a basket-based approach in 1975, reflecting global currency realignments.

Final Answer
1975

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