How Many Times has the Indian Rupee Been Devalued?

By Shubhra Anand Jain|Updated : July 27th, 2022

The Indian rupee has been devalued three times by the government of India in the past. There can be many reasons for the devaluation of a currency by a government. Here is the information about the instances when the Indian rupee was devalued in:

  • 1949 - Lack of funds with the government.
  • 1966 - During the war with Pakistan and China.
  • 1991 - During the economic crisis.

Devaluation of the Indian Rupee

Any economy can become paralyzed due to several factors, and devaluing a currency can help at such a time. The Indian rupee was devalued in many instances in the past, and this measure eventually led to the value of the currency and the economy improving. The Indian government devalued the rupee in the year 1949 due to the lack of funds with the government, in 1966 during the war with China and Pakistan, and in 1991 during the economic crisis.

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FAQ’s

  • The Indian rupee was devalued in the years 1949, 1966, and 1991 by the government of India. The Indian currency has only been devalued thrice in the past in the mentioned years.

  • The government of India resorted to devaluing the Indian rupee for various reasons, which are mentioned below:

    • 1949 - Due to a lack of funds.
    • 1966 - During the war with China and Pakistan.
    • 1991 - Because of the economic crisis.

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