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Can any one tell me what is the process to get a RBI license for setting up a small Money Exchange to buy and sell foreign exchange.
$ 302.6 billion as of March 2011
Most banks in India will exchange Rupees. Some foreign banks and money changers will also exchange.
Foreign Exchange is Exchange between two currency.
The Eurosystem conducts foreign exchange operations according to Article 105 and consistent with the provisions of Article 111 of the Treaty establishing the European Community. Foreign exchange operations includeforeign exchange interventions;operations such as the sale of foreign currency interest income and so-called commercial transactions.
Can any one tell me what is the process to get a RBI license for setting up a small Money Exchange to buy and sell foreign exchange.
India holds ninth position in terms of foreign-exchange reserves as of may 2012.
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$ 302.6 billion as of March 2011
Tea
India followed a 'fixed exchange rate' system till the economic crisis of 1991.At present India is following 'floating exchange rate'following link will help you to understand:(http://indianblogger.com/foreign-exchange-rate-determination-in-india/)thank you
Most banks in India will exchange Rupees. Some foreign banks and money changers will also exchange.
(in the US) You cannot "exchange" a foreign drivers license for a US state-issued drivers license. You must take all the tests, (written and driving) to prove that you are capable of operating a vehicle according to that state's laws.
The Zimbabwean has the highest foreign exchange rate.
1.Petroleum 2.Tourism
Foreign Exchange is Exchange between two currency.
Foreign exchange rates are currency exchange value of other countries.