An exclusive project report on Foreign Exchange Market in India. This report will help you to learn about:- 1. Origin projects on forex market Foreign Exchange Market in India 2.
Players in the Foreign Exchange Market 3. Foreign Exchange Dealers’ Association of India 4. Structure of the Foreign Exchange Market in India 5. Interbank Dealing and Dealing Room Operations 6. Foreign Exchange Reserve Management in India. The movement towards market-determined exchange rates in India began with the official devaluation of the rupee in July 1991. 83 in March 1992 to 32.
The LERMS as a system in transition performed well in terms of creating the conditions for transferring an augmented volume of foreign exchange transactions onto the market. Consequently, in March 1993, India moved from the earlier dual exchange rate regime to a single, market determined exchange rate system. The dual exchange rate system was replaced by a unified exchange rate system in March 1993, whereby all foreign exchange receipts could be converted at market-determined exchange rates. On unification of the exchange rates, the nominal exchange rate of the rupee against both the US dollar as also against a basket of currencies got adjusted lower, which almost nullified the impact of the previous inflation differential.