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Back to Top of Index Question-139: Can Exchange Houses draw drafts in foreign currencies ?

April 26, 2017currencies drafts draw exchange foreign houses index

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Back to Top of Index Question-139: Can Exchange Houses draw drafts in foreign currencies ?

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Yes. Exchange Houses can draw drafts in U.S. dollar or Pound Sterling on a limited number of branches of the drawee bank in India, if they have entered into such an arrangement with the drawee bank.