1991 crisis. In July 1991, we hit another major crisis. Biggest event in modern Indian economic history. What exactly happened to the Indian Economy in 1991 in layman’s terms? Overnight rupee was devalued by another 50% from about 17/$ to about 25/$.
Wow! Thanks for the information.
I will read up on this. I know it happens, I just did not know it had happened there—and relatively recently. Of course in 1991 I was knee deep in diapers so I was not following a lot of international news even if they were broadcasting it here. ;)
Hope you were not personally affected too negatively—and if you were, hope you are doing well now!