Case Study on Forex Market in India

As in the rest of the world, in India too, foreign exchange market is the largest financial market in existence. The phenomenon that has dramatically changed India’s foreign exchange market was liberalization of economy started during early 90′s. In 1993, central government replaced the prevailing fixed exchange rate system with a less regulated “market driven” arrangement. Even though this cannot be called as a fully floating exchange rate system like the U.S., in the Indian scenario it is working well. In the current system, the Reserve Bank of India and its affiliates intervene in the market whenever they decide it is necessary. Forex Market in India

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