Why the value of GBP is much higher as compare to INR?

India
July 6, 2010 4:36am CST
UK is much smaller than India if we consider according to land area. India has population more than 100 crores whereas in UK it may be near 6 to 7 crores. What is the reason behing lagging? Why indian currency value is much lower as compare to GBP, USD , AUD etc? In India majority of projects are still not completed within a stipulated time. Actuall where India is lacking?
2 responses
@picjim (3003)
• India
6 Jul 10
Population and geographical area have no relation to the value of a currency.If a country is well to do economically then the value of its currency is higher.Similarly if the economy is not relatively well of its currency doesn't have high value.Its the economy which determines the value.The reason for Great Britain pound having a higher value could be its economy is better of vis a vis India.
• India
6 Jul 10
To buy a Kuwaiti Dinar we have to pay 304 Japanese Yen,3.46 US Dollar or 13 Saudi Riyals.Do you think those countries are less stronger than Kuwait? What is the relation between the population and value of a currency ??