The currency exchange rate is vital to understand in a globalised world where dealing in multiple currency exchanges is common. Read on to learn all about it.
REER stands for Real Effective Exchange Rate and refers to the value of one currency versus another. It measures the domestic currency's competitiveness in the international forex (foreign exchange) market.
With $87 billion, India was the largest recipient of remittances with a growth of 5% in 2021. Here's the top 10 countries list and more details on remittances.
An easy explanation on general principles for international remittances services laid down by World Bank. These principles were laid to protect the consumers.
In simple words, Rupee Drawing Arrangement is a process in which foreign currency is received in India through proper banking channels. Know more about Non- resident Exchange Houses, Nostro and Vostro accounts in this article.
Money Transfer Service Scheme ( MTSS ) is a quick and easy way of transferring money from overseas to your know contacts in India. MTSS facilitates inward remittances to individuals in India.