2023
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Who manages the Foreign Exchange control in India?
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RBI
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SEBI
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NABARD
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Central Government
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Explanation:
Detailed explanation-1: -Exchange control-The forex market is regulated by the RBI with impregnable exchange control regulations. The RBI does not permit a bank to purchase dollars from the RBI and speculate in the interbank market. Selling these dollars in the overseas cross currency market is prohibited by the central bank.
Detailed explanation-2: -RBI has an important role to play in regulating & managing Foreign Exchange of the country. It manages forex and gold reserves of the nation. On a given day, the foreign exchange rate reflects the demand for and supply of foreign exchange arising from trade and capital transactions.
There is 1 question to complete.