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10 November, 11:25

According to purchasing-power parity, if it took 58 Indian rupees to buy a dollar today, but it took 55 to buy it a year ago, then the dollar has:

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  1. 10 November, 13:18
    0
    Given that,

    Current exchange rate between India and U. S:

    1 Dollar = Rs. 58

    Exchange rate between India and U. S a year ago:

    1 Dollar = Rs. 55

    Above information conclude that the currency of India depreciates whereas currency of united states appreciates.

    This is due to the increase in the exchange rate in India. Now, a dollar become more expensive than it a year ago.

    So, the Indian rupee depreciated and U. S dollar appreciated.
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