The Indian economy reached the trillion US dollar GDP milestone in 2007 and joined other countries of the trillion … dollar club, namely, the US, UK, Japan, Germany, China, France, Italy, Spain, Canada, Brazil and Russia. In fact, over the … period 1960 to the late 1980s, India’s GDP in US dollar terms doubled every nine years, on an average. Since then, the …

Prior to the Asian financial crisis, most Asian exchange rates were de facto pegged to the US Dollar. In the crisis … durable Bretton Woods II arrangement, Asia then went on to slowly raise flexibility and reduce the role for the US Dollar … paper proposes a new measure of dollar pegging, the \Bretton Woods II score". [NIPFP WP No. 69]. …

reform. The monetary policy regime has consisted essentially of a pegged exchange rate to the US dollar throughout. [WP No …