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Financial Mathematics - Forex Arithmetic
Define 'Foreign Exchange' under FEMA 1999 Section 2(n).
Foreign currency and deposits, credits, drafts, traveller's cheques, letters of credit, bills payable in any foreign currency or drawn in INR but payable abroad.
What replaced the AD-bank authorization framework effective April 30, 2026?
Foreign Exchange Management (Authorised Persons) Regulations 2026; fresh authorizations only under AD Category-I, II, III.
Define Bid Rate in a two-way forex quote.
The price at which the quoting bank buys the base currency from the counterparty.
Define Offered Rate in a two-way forex quote.
The price at which the quoting bank sells the base currency to the counterparty.
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