The value of the rupee in 1917 varied depending on various factors such as inflation and exchange rates. Without specific data or context, it is difficult to provide an exact value.
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The value of the rupee in 1917 varied depending on various factors such as inflation and exchange rates. Without specific data or context, it is difficult to provide an exact value. However, let’s delve into some interesting information related to this topic.
Interesting facts about the value of the rupee in 1917:
- In 1917, India was still under British colonial rule, and the Indian rupee was tied to the British pound sterling.
- During this period, the British government controlled the value of the rupee, and its value was subject to fluctuations based on economic and political circumstances.
- The British Raj implemented a managed exchange rate system to stabilize the rupee in relation to the pound. This system aimed to facilitate trade and maintain economic stability.
- Inflation played a significant role in determining the value of the rupee. Factors like wartime demands, supply disruptions, and fluctuations in commodity prices impacted the purchasing power of the currency.
- The rupee’s value was also influenced by global economic events, such as World War I, which had substantial effects on exchange rates worldwide.
Considering the scarcity of specific details, it is worth noting the words of John Maynard Keynes, one of the most renowned economists of the 20th century, who analyzed currency values during this period. Keynes stated, “By a continuing process of inflation, governments can confiscate, secretly and unobserved, an important part of the wealth of their citizens.” This quote highlights the relevance of inflation in understanding the value of currency, including the rupee.
Unfortunately, due to the lack of specific data and information, it is not possible to provide a comprehensive table illustrating the value of the rupee in 1917. The value of currency is a complex subject, and historical exchange rates can fluctuate significantly based on various factors.
A video response to “What was the value of rupee in 1917?”
The video debunks a social media post claiming that one Indian rupee was equal to 13 US dollars in 1917. According to the Reserve Bank of India, the actual exchange rate at that time was 1 US dollar to 3.33 Indian rupees, making the post fake. The value of one Indian rupee in 1917 was 0.314 US dollars, not 13 US dollars.
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According to the Reserve Bank of India, one rupee was fixed at 1 shilling 4 pence – 1s 4d (equal to 0.066 pounds) in 1917. When a pound is converted into dollars as per the exchange rate prevailing back then, one rupee would amount to 0.314 USD, which means 1USD was equal to Rs. 3.33. The viral claim that the Rupee was equal to 13 Dollars in 1917 is not true. The value of 1 Rupee back in 1917 was 0.314 Dollars.
According to the Reserve bank of India, during the year 1917, one rupee was fixed at 1 shilling 4 pence – 1s 4d (equal to 0.066 pounds). When a pound is converted into dollars as per the exchange rate prevailing back then, One rupee would amount to 0.314 USD, which means 1USD was equal to Rs. 3.33.
The viral claims that the Rupee was equal to 13 Dollars in 1917 as against its value now of Rupees 74 per dollar hence making it stronger back then is not true. The value of 1 Rupee back in 1917 was 0.314 Dollars. RBI report on currency prior 1935- https://rbidocs.rbi.org.in/rdocs/content/PDFs/89635.pdf
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Considering this, What was the value of 1 rupee in 1917? As per Money Control’s website the exchange rate for today for Rupee per Dollar is Rupees 74.5050. The viral claims that the Rupee was equal to 13 Dollars in 1917 as against its value now of Rupees 74 per dollar hence making it stronger back then is not true. The value of 1 Rupee back in 1917 was0.314 Dollars.
Keeping this in view, What was India’s currency in 1917?
The reply will be: Several users on Facebook shared the image, which loosely translates “In 1917 India’s 1Rupee equalled 13 Dollars. During independence 1 Dollar was equal to 1 Rupee. After that, the country witnessed such ministers and governments whose wrong policies resulted in 1 dollar becoming equal to 74 Rupess, a currency which used to be below us.”
Additionally, Was USD weaker than Indian rupee in 1917? Fact:USD was not weakercompared to Indian Rupee in the year 1917. According to the RBI, the value of One rupee in 1917 is equivalent to 0.314 USD. Hence the claim made in the post is FALSE. In 1917, India was under the British rule and the foreign exchanges were done in the British currency (Pound).
Moreover, Was Indian rupee equal to $13 USD? The response is: Images with text in hindi claiming that Indian Rupee was equal to $13 USD are rife on social media. Several users on Facebook shared the image, which loosely translates “In 1917 India’s 1 Rupee equalled 13 Dollars. During independence 1 Dollar was equal to 1 Rupee.