In October 2015, 1 UK pound could be exchanged for 100 Indian rupees. By October 2016, 1 UK pound could be exchanged for 80 Indian rupees. What would be a short-term consequence of this change?
- AEconomic growth in India would increase.
- BIndian manufacturers would earn higher profits from exports to the UK.
- CInflationary pressure in the UK would reduce.
- DUK manufacturers would find it easier to export to India.