When India Pledged Gold To Survive 1991 Forex Meltdown
In the early 1990s, India was gripped by a balance-of-payments crisis. The situation was triggered by a slowdown in inward remittances and a sharp rise in oil prices following Saddam Hussein’s invasion of Kuwait.
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In the early 1990s, India was gripped by a balance-of-payments crisis. The situation was triggered by a slowdown in inward remittances and a sharp rise in oil prices following Saddam Hussein’s invasion of Kuwait.
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