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Since India was under British rule rupee was pegged to pounds. From 1927 to 1966, it was 13 rupees = 1 pound. This was maintained until 1966 when the rupee was devalued and pegged to the U.S. dollar at a rate of 7.5 rupees = 1 dollar. This value lasted until the U.S. dollar devalued in 1971.

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