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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 measurement of exchange risks; and
4. Explain the methods of dealing with foreign exchange risks.
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Commercial Dimension : From the point of view of an exporter, a transaction is complete as soon as the importer either pays for the bill of exchange on its presentation or he unde
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Marine Insurance Contract : Article 3 of the Indian Marine Insurance Act, 1963 defines marine insurance contract as "It is an agreement whereby the insurer undertakes to indemnify
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