Using Table 1, explain what happened to the value of the Indian Rupee (INR) relative to the Euro (EUR) between 2019 and 2022.
Table 1 – India's trade balance and exchange rate, 2018–2022
| Year | Trade balance (INR bn) | Exchange rate (INR per EUR) |
|---|---|---|
| 2018 | +20.0 | ~78.0 |
| 2019 | +25.0 | ~80.0 |
| 2020 | -10.0 | ~85.0 |
| 2021 | -15.0 | ~89.5 |
| 2022 | -30.0 | ~92.0 |
30 exam-style questions on OCR A Level Economics Exchange rates. Each one has a worked solution and a mark scheme showing where the marks go.