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Foreign Exchange policy




What is Foreign Exchange policy

In: Economics Asked By: [78 Blue Star Level]
Answer #1

Since 1991 , the company’s foreign exchange reserves have gone up from U$$5 b to approximately U$$312.902b in June 2011. Prior to 1999 India had stringent exchange control regulations under the foreign Exchange Regulation act 1973 (FERA). In 1999 , the Gol replaced controls under FERA with regulations under the FEMA .
With the introduction of FEMA in 1999 , the objective of the GOL shifted from the conversation of foreign exchange to promoting orderly development and management of the foreign exchange market in India

Answers Answered By: neha [678 Orange Star Level]
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