state gov TSPSC Group 3 (తెలంగాణ గ్రూప్ 3) 2023 Mock Test Series General Knowledge Economy External Sector and Currency Exchange rate
Exchange rates state the value of one currency in terms of other currencies. Which one of the following statements with respect to the nominal effective exchange rate (NEER) is not correct?
1
The NEER tells about a country’s international competitiveness in terms of foreign exchange.
2
2015-16 has been chosen as the new base year for the NEER indices.
3
The NEER for Indian Rupee is calculated by World Bank (WB) and International Monetary Fund (IMF).
4
The NEER is the unadjusted weighted average rate at which one country's currency is exchanged for a basket of foreign currencies.