India has emerged as one of the fastest growing economies in the world. It has become both a source and destination of foreign direct investment and portfolio investment. This decade has seen the emergence of Indian multinationals; financial integration has increased, Indian financial markets have become more volatile, and the Foreign Exchange Management Act (FEMA) has replaced the Foreign Exchange Regulation Act (FERA). These are some of the reasons why International Finance is of relevance to management students. This book gives a perspective of exchange rate risk management, the working of the Foreign Exchange Market and its institutional framework, and guidelines governing the Indian Foreign Exchange Market.
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