As I mentioned earlier, the rupee had been linked to the SDR with a view to reducing the exchange rate variability of the rupee. With the steady strengthening of the US dollar especially since 1981, the SDR had appreciated against other major currencies which in turn resulted in an appreciation of the rupee on a trade weighted basis.
As you are aware a number of reforms have been put forward at the European and international level notably by the ECOFIN Council and the Financial Stability Forum (FSF), and have recently been reflected in the declaration of the G20 summit.