85-Role of RBI and Banks in Foreign Exchange Management

1.

Who manages the Foreign Exchange control in India?

RBI

SEBI

NABARD

Central Government

2.

Which of the following correctly define the Foreign Exchange (Forex) Market?

It is a market where only Foreign currency is used.

It is a market where foreign currencies are bought and sold simultaneously.

It is a physical market where only foreigners are allowed.

None of the Above

3.

Liberalized Exchange Rate Management System (LERMS) involving dual exchange rate mechanism was instituted on the recommendations of a high level committee. Who was the head of this committee?

Dr. C. Rangarajan

Urjit Patel

Nandan Nilekani

None of the Above

4.

Which of the following best defines the meaning of Exchange rate?

It is a price at which Foreign money is exchanged at counters.

It is the price at which one country's currency is expressed in another country's currency.

It is the price at which Foreign materials are purchased or sold.

All of the above

5.

Which of the following is not the type of Exchange rates?

Ready

Value Tom

Backward Transaction

Forward Transaction