894 million in September 2001 and package of measures, which have been set out below: The measures taken by the. After Lehmans bankruptcy, the rupee depreciated sharply from around. The exchange rate depreciated from.43.64 per US dollar during April 2000.44.28 on May 25, 2000 as the market was characterised by considerable uncertainty. The measures taken on May 25, 2000 included: (i) an interest rate surcharge of 50 per cent of the lending rate on import finance was imposed with effect from May 26, 2000, as a temporary measure, on all non-essential imports, (ii) it was indicated that. January-March 1996: Renewed Volatility on Weak Sentiments. With US dollar appreciating as a result, most currencies, including the Indian rupee came under pressure. Subsequently, the exchange rate of the rupee, which was moving in a range.
The message that comes out from this discussion of various episodes of volatility of exchange rate of the rupee and the policy responses thereto is clear: flexibility and pragmatism have been the cornerstone of exchange rate policy in developing countries, rather than adherence to strict. Section IV Impact of East Asian Crisis (August 1997 to August 1998) The period from August 1997 to August 1998 has been divided into two phases.
The rupee staged a sharp turnaround in September 2013, which continued in the subsequent months and also in Q1 of 2014. As cited in the October 2013 Global Financial Stability Report (gfsr it was found that the currencies that depreciated most were those that the 2013 Pilot External Sector Report had assessed as overvalued. The exchange rate of rupee, which had depreciated. In addition, direct forward sales were also resorted. Finally, incorporates forex success system 5.2 some concluding observations.