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How does the Indian Forex market work?

April 26, 2017forex indian market

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How does the Indian Forex market work?

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The Foreign Exchange Management Act is the law which regulates the Forex market. The regulatory authority for the Indian Forex market is the Reserve Bank of India (RBI). However, the Exchange Traded Currency Futures market is regulated by SEBI through the recognized stock exchanges. Authorized Dealers (ADs) licensed by RBI can participate directly in the Forex market. These are usually Scheduled Commercial Banks.