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Foreign Exchange Management CA Rajkumar S …
Exchange ManagementForeign Exchange ManagementCA Rajkumar S (Hons), FCA, ACS, ACWA, LLB, DIPR, DLL &LP, IFRS(UK), MBAemail 09820061049/09323061049 To receive regular updates kindly send test email to Foreign Exchange orForexis the conversion of one country's currency into that of another. A country's currency is valued according to factors of supply and demand A currency's value can bepeggedto another country's currency, such as the dollar, or even to a basket of currenciesWhat Is Forex?What Is Forex? is Currency?What is Currency? Currency refers to the physical aspects of a nation s money supply. Currency notes" means and includes cash in the form of coins and bank notes. (Section 2(i) FEMA). "Indian currency" means currency which is expressed or drawn in Indian rupees but does not include special bank notes and special one rupee notes issued under section 28A of Reserve Bank of India Act, 1934 (these are issued on special occasions like Gandhi centenary etc.)
www.caaa.in 10 History of Forex Market The creation of the gold standard monetary system in 1875 marks one of the most important events in the history of the forex market. Before the gold standard was implemented, countries would commonly use gold and silver as means of international payment.
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