On Aug 15, 1947, one Indian Rupee was equal to one US dollar as it was linked to the British Pound. It fell to 4.79 in 1966 and prior to the 1991 liberalisation, it stood at 17.90 to the dollar.
The Rupee was devalued from 4.79 to 7.57 as the result of the 1962 and 1965 wars.
Connotations
Indian connection