With respect to the rupee and its relation to the dollar, which of the following statement is false?
I. The Indian rupee breached the exchange rate level of 80 to a US dollar for the 1st time in 2021.
II. The first devaluation of the Indian Rupee took place on 19th September 1976.
1
Only I
2
Only II
3
Both I and II
4
None