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Suppose the exchange rate between the US Dollar and the Indian Rupee moves from $1 = Rs. 70 to $1 = Rs. 76. What does this change indicate about the Indian Rupee relative to the US Dollar?

1. depreciated
2. appreciated
3. Demonetised
4. overvalued

Correct answer: depreciated

Solution

When the exchange rate moves from $1 = Rs. 70 to $1 = Rs. 76, it means more rupees are required to purchase one US dollar. This indicates that the purchasing power of the rupee has fallen — the rupee has depreciated against the dollar.

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