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FOREIGN EXCHANGE : Foreign exchange, as defined under Foreign Exchange Regulation Act. 1973 is foreign currency and includes:
i) All deposits credit and balance payable in foreign currency
ii) Any drafts, traveller's cheques, letters of credit and bills of exchange expressed or drawn in Indian currency but payable in any foreign currency and,
iii) Any instrument payable at the option of the drawer or holder thereof or any other party thereto, either in Indian currency or foreign currency or partly in one and partly in the other.
Foreign exchange accrues out of foreign exchange transactions. The regulation and control of foreign exchange implies, therefore, regulation and control of foreign exchange transactions.
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Types of cognitive involvement Cognitive involvement - where a person is enthused to learn all s/he can about the product. Product involvement > the consumer's stage
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Form of Contract: There are no universally acceptable norms as to the form of export contracts. It need not be a formal document signed by both the parties and it need to be s
Forward Contracts : As you have learnt that entering into forward contract is one of the important method of dealing with the foreign exchange risk. Let us also remind you that in
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