4  BIS Review 99/2007  and Minister of Finance to devalue the rupee in line with the pound sterling. Un moment critique! To say there was hesitation by the Premier, is to lightly paraphrase my informant’s account!
I understand an official communiqué some days later, presented the remarkable paradox to the faithful people, in language worthy of Sir Seewoosagur Ramgoolam: “The rupee is not being devalued; the Government has decided to maintain its relationship with the pound!”.