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SSC CHSL 2025 PYQ — Question 92

SSC CHSL - 19 Nov 2025 - Shift 3 • General Awareness • Q92

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In _____, a dual exchange rate system called Liberalised Exchange Rate Management System (LERMS) was introduced in India.

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Correct answer: B

Explanation

Correct Answer: Option 2 (March 1992)

Explanation:

The Liberalised Exchange Rate Management System (LERMS), a dual exchange rate system, was introduced in March 1992 as part of India's economic reforms. Under this system, foreign exchange was traded at both an official exchange rate and a market-determined exchange rate. It was replaced by a unified market-determined exchange rate in March 1993.

  • Option 1: February 1993 is incorrect.

  • Option 2: March 1992 is correct.

  • Option 3: May 1992 is incorrect.

  • Option 4: October 1992 is incorrect.

Answer: Option 2 (March 1992)