UPSC Prelims 1998 · General Studies
Question 91: Economy and Social Development
Which one of the following is the correct sequence of decreasing order of the given currencies in terms of their value in Indian Rupees?
AnswerThe answer is (a).
At the exchange rates of 1998, the US dollar was worth about Rs 40, the Canadian dollar about Rs 27, the New Zealand dollar about Rs 22 and the Hong Kong dollar about Rs 5. The order of decreasing value is therefore US dollar, Canadian dollar, New Zealand dollar, Hong Kong dollar. The Hong Kong dollar was pegged to the US dollar at about 7.8 to the dollar, which makes it by far the smallest.
Why each option is right or wrong
- (a) Right: US dollar, Canadian dollar, New Zealand dollar, Hong Kong dollar.
- (b) Puts the New Zealand dollar above the Canadian dollar.
- (c) Puts the Hong Kong dollar second, but it is worth the least.
- (d) Puts the Hong Kong dollar second and the New Zealand dollar last; both are wrong.
Explanation: written by UPSC Grade, not by UPSC.
Source: UPSC, Civil Services (Preliminary) Examination 1998, General Studies. UPSC's own paper isn't online; the words are from a published compilation. The paper on upsc.gov.in.