At present, the value of India's currency "rupee" is continuously falling and its value has  declined by 8% between January - June 2018.  Among the BRICS nations; after the Russian Ruble, the Indian rupee depreciated the most in this period. Now the exchange rate between the dollar and rupee is hovering around Rs.69= 1 dollar. Devaluation Meaning:  When the external value of the domestic currency depreciates while the internal value remains the same, such situation is known as the devaluation of the domestic currency. The basic difference between the devaluation and depreciation is that, the  devaluation is done by the government of the country deliberately while the depreciation take place because of market forces i.e. demand and supply. At the time of independence; India adopted the Par Value System of International Monetary Fund (IMF). On the  August 15, 1947 ; the exchange rate between the  Indian rupee and US dollar was 1USD = 1 INR. Which Countries a