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short notes FOREIGN EXCHANGE MARKETS IN INDIA
short notes FOREIGN EXCHANGE MARKETS IN INDIA: The forex market in India is regulated by reserve bank of India. Participants in this market are the authorised moneychangers and authorised dealers. Authorised Moneychangers: In order to provide facilities for encashment of foreign currency to visitors from abroad, especially foreign tourists, reserve bank has granted licenses to certain established firms, hotels and other organisations permitting them to deal in foreign currency notes, coins and travelers Cheques subject to directions issued to them from time to time. These firms and organisations are fall into two categories:
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