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Thread: MEANING OF LERMS, LEBERALISED EXCHANGE RATE MANAGEMENT SYSTEM, meaning of FEDAI

  1. #1
    gopalji
    Guest

    Default MEANING OF LERMS, LEBERALISED EXCHANGE RATE MANAGEMENT SYSTEM, meaning of FEDAI

    Exchange rate of Indian Rupee is fixed by market depending on demand & supply theory with effect from March 1, 1993. This is known as LERMS.There is no control by RBI or Government.

    FEDAI - Foreign Exchange Dealers Association of India, decides the rate without any government intervention. This rate applies to all transactions whether capital or current or private or government.

  2. #2
    gopalji
    Guest

    Default meaning of swap, define swap, swap deals by RBI

    Swap is a verb. Swap means trade. RBI undertakes SWAP dealing by buying USD at spot and selling in forward of two to six months just to absorb the temporary liquidity in the market.

    RBI also undertakes buying and selling USD to maintain stability in the exchange market.

  3. #3
    gopalji
    Guest

    Default foreing exchange rate, meaning of cash rate, TOM rate, spot rate, forward rate

    The exchange rates are notified by FEDAI daily.

    These rates may be cash rates i.e. transactions on the same day or TOM (delivery on immediately succeeding working day) or SPOT (delivery on immediately second succeeding working day) or FORWARD (delivery beyond second succeeding working day)

  4. #4
    gopalji
    Guest

    Default Meaning of spread of rates, spread between foreign exchange rates

    As the word signifies, spread means difference or gap. There is difference in notified buying and selling rates of foreign exchange which is called spread. The maximum spread permitted by FEDAI is 1% for USD, 2% for hard currencies like UK pound, Euro & Yen. In other currencies, no limit has been fixed by FEDAI.

  5. #5
    gopalji
    Guest

    Default world currencies exchange rate, exchange rate, foreign exchange rate, conversion rate of foreign currency. foreign currency conversion rates, rupee

    The historic data as well as current rate may be found at the following websites:

    Reserve Bank of India for current rate of exchange

    OANDA for all present or past rate of exchange

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