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The foreign exchange market in India began in 1978 when banks were allowed to trade foreign exchange. Today, over 70% of trading occurs in the inter-bank market among over 90 authorized dealers, mostly banks. The market is regulated by FEDAI and clearing and settlement functions are carried out by CCIL. Liberalization has boosted the market by giving banks and corporations more flexibility in foreign currency holdings and trading. The volume of foreign exchange trading in India has more than tripled from 20
- Author
- bharatseth777
- Language
- EN