FOREIGN EXCHANGE TRADE IN INDIA – AN HISTORICAL REVIEW
Author’s Name : M Sulaiman | P Prabu
Volume 03 Issue 03 Year 2016 ISSN No: 2349-7289 Page no: 5-7
The foreign exchange market is the largest market in the world; it is conducted Over-the-Counter (OTC) through the use of electronic trading platforms, or by the telephonic trading desks with volume that exceeds commodities, financial futures, and stocks. The industry estimates that around $5 trillion of turnover occurs daily. Foreign exchange markets are the back bones of the international trade and for global investment. It is particularly important in relocating capital and thus providing growth. By the highly developed financial system, a country can observe a greater share of capital, technology, human resources etc. This chapter focuses on advent and the legal framework of foreign exchange market in India.
OTC, Foreign Exchange, Financial System, Growth
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