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UPSC 1998: Which one of the following is the correct sequence of decreasing order of the given currencies in terms of their value in Indian Rupees?
(a)US dollar, Canadian dollar, New Zealand dollar, Hong Kong dollar
(b)US dollar, New Zealand dollar, Canadian dollar, Hong Kong dollar
(c)US dollar, Hong Kong dollar, New Zealand dollar, Canadian dollar
(d)US dollar, Hong Kong dollar, Canadian dollar, New Zealand dollar
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Not attemptedCorrect Answer: (a) US dollar, Canadian dollar, New Zealand dollar, Hong Kong dollar
Average 1998 exchange rates show 1 US $ ≈ ₹41.3; 1 Canadian $ ≈ 0.675 US $ ≈ ₹27-28; 1 New Zealand $ ≈ 0.54 US $ ≈ ₹22-23; the Hong Kong $ has been pegged at HK $7.80 = US $1 since 1983, giving ≈ ₹5.3 per HK $. Thus the descending order by rupee value is US $, Canadian $, New Zealand $, Hong Kong $. ([skillshats.com](https://skillshats.com/blogs/usd-to-inr-price-trends-from-1947-to-2024/?utm_source=openai))
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Frequently Asked Questions
What is the correct answer to this UPSC 1998 Indian Economy question?▼
The correct answer is option (a): US dollar, Canadian dollar, New Zealand dollar, Hong Kong dollar. Watch the detailed video explanation in our Sherlocking Prelims course on UnlockIAS.
Which year was this External Sector & Balance Of Payments question asked in UPSC Prelims?▼
This question was asked in UPSC CSE Prelims 1998, GS Paper 1, as Question 91. It falls under Indian Economy > External Sector & Balance Of Payments.
What is the difficulty level of this UPSC question?▼
This question is rated "moderate". It requires sound conceptual understanding of the topic.
How many UPSC Prelims questions have been asked from External Sector & Balance Of Payments?▼
UPSC has asked 49 questions from External Sector & Balance Of Payments (under Indian Economy) across multiple years. Visit the topic page to see the full list and year-wise trends.