Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Definition of Exchange Rate : A foreign exchange rate is simply the price of one country's money in terms of another country's money. In other words, the rate at which one country's money or currency buys or exchanges for another country's money or currency is known as the rate of exchange. And foreign exchange is the mechanism by which the currency of one country gets converted into the currency of another country.
Individuals and firms normally do not buy and sell foreign currencies for their own sake but in the process of buying and selling something else - a product, a service or a financial asset. In this sense, foreign exchange transactions are fundamentally a part of the payments mechanism. Again, it connects the price system of' two countries whose currencies are involved in an exchange rate. For example, suppose one rupee exchanges for 3 pence of the English currency. It means in effect, that what one rupee can buy in India, 3 pence can buy in
England. Therefore, by converting a rupee into pence, an Indian can buy 3 pence worth of goods in England, not directly, but indirectly through buying the British currency first and goods and services later.
Now let us see how this conversion takes place. The prospective importer of British goods would approach a bank which is authorised to deal in foreign exchange. The bank would issue a draft payable in British pounds on its branch or its correspondent bank in the U.K in exchange for equivalent value plus its charges. The importer would then send this draft to the exporter who can English it at the bank on which it is drawn. An exporter of Indian goods would similarly approach a bank for selling the foreign currency draft received by him and to, receive the equivalent sum in Indian rupees minus the bank charges. Thus foreign exchange transactions are very conveniently handled by banks.
Elucidate the different types of exploratory research designs. Answer Exploratory research design includes many qualitative data collection techniques like in-depth interv
Question 1 Explain the concept of Service mapping with example Question 2 Write a short notes on- Factors that influence customer expectations Pricing strategies
OBJECTIVES After studying this unit, you should be able to: 1. Explain the meaning of exchange rate; 2. Describe various types of exchange risk; 3. Discuss the meas
Evaluate the relationship between brand loyalty, corporate image and repeat purchase
Characteristics of Research:- Characteristics of research are as below: - 1. Systematic Approach:- Each step should on your investigation be so planned that it lead to
Sales Tax Exemption : Purchase of goods meant for exports are exempted from sales tax including Central Sales Tax. However, the purchaser of goods has to be a registered dealer fo
Permitted Methods : Export payment must be received in a currency appropriate to the country of final place of destination of the goods as declared on GR. etc., forms. Reserve Ran
PURPOSE OF WRITING RESEARCH REPORT Three main purposes are there for writing a research report. These are: i) Writing report for partial fulfillment of your degree. ii)
This error occurs on account of interview influence in conducting an interview or wrong recording by him. By putting emphasis on a certain word or phrase in a questionnaire intervi
INSTITUTIONAL FRAMEWORK : Institutional framework for providing finance comprises Reserve Bank of India, Commercial Banks, Export Import Bank of India and Export Credit and Guaran
Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd