Question

You plan to travel to Europe during summer holidays and need Euro for that; where will go to buy Euro by paying INR:

A Public Debt department of RBI Correct Answer Incorrect Answer
B Ministry of External Affairs Correct Answer Incorrect Answer
C Ministry of Finance Correct Answer Incorrect Answer
D Any bank branch which is appointed as Authorised Dealer Correct Answer Incorrect Answer
E Any one of the above Correct Answer Incorrect Answer

Solution

The forex market in India is regulated by Reserve Bank of India. Authorized money changers and Authorized money dealers play a major role in Forex transactions.

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