AIG Emerging MarketForeignExchange Indices sup SM sup AIG EMFXI sup SM sup The AIG Emerging MarketForeignExchange Indices sup SM sup AIG EMFXI sup SM sup are a family of investable indices that reflect the return from going long on the underlying emerging market currencies via short dated forward foreignexchange transactions. The AIG EMFX USD or Benchmark Index reflects the total return from going long an equally weighted basket of 19 emerging market currencies versus USD. Regional indices again equally weighted have been created for Asia, Central Europe, and Latin America. Indices are re weighted annually. AIG and the names of the AIG EMFXI sup SM sup indices and sub indices are trademarks or service marks of American International Group , Inc. See also Dow Jones AIG Commodity Index External links http www.djindexes.com mdsidx ?event showAigHome DJ AIGCI Homepage http www.bloomberg.com apps quote?ticker AIGXI IND Bloomberg Website Category American International Group Category Commodity price indices ... more details
wiktionarypar foreignexchangeForeignexchange may refer to foreignexchangemarket s, where money in one currency is exchanged for another Exchange rate , the price for which one currency is exchanged for another foreignexchange reserves , holdings of other countries currencies retail forex platform , a trading platform Foreignexchange service telecommunications , connection of a phone to a non local office Foreign student exchange , a school program in which students study in another country for a time Foreign Excgange 1970 film ForeignExchange 1970 film , a British television film ForeignExchange 2008 film ForeignExchange 2008 film , a 2008 film starring Jennifer Coolidge ForeignExchange TV series ForeignExchange TV series , television show made by Southern Star Entertainment ForeignExchange US TV series ForeignExchange US TV series , a weekly public television show in the US, previously hosted by Fareed Zakaria ForeignExchange CNBC World ForeignExchange CNBC World , a television news series on CNBC World The ForeignExchange , a hip hop duo Foreignexchange risk , arises from the change in price of one currency against another International trade , the exchange of goods and services across national boundaries disambig ... more details
Infobox musical artist See Wikipedia WikiProject Musicians Name The ForeignExchange Img Img capt Img size Landscape Background group or band Alias Origin Raleigh, North Carolina Raleigh , North Carolina , Utrecht city Utrecht , Netherlands Instrument Vocals, keyboard, bass guitar, acoustic guitar, lead guitar Genre R&B , Electronica , Hip hop music Hip hop , Neo Soul Years active 2002 present Label FE Music Associated acts Yahzarah , Sy Smith , Darien Brockington URL http www.theforeignexchangemusic.com The ForeignExchange Current members Phonte Phonte Coleman br Nicolay musician Nicolay Past members Notable instruments The ForeignExchange is a R&B electronica hip hop music hip hop duo consisting of United States American rapper singer Phonte Phonte Coleman and Netherlands Dutch Record producer ...?csid1 127&csid2 4&fid1 34516 ForeignExchange s Same Difference , Exclaim , November 2008. ref ... and sending music back and forth. Soon after, Phonte and Nicolay formed The ForeignExchange without having ever met each other in person, hence the name The ForeignExchange. File Sy and Phonte ... during the Authencity Tour in January 2011. The album, Connected ForeignExchange album Connected ... album Leave It All Behind ForeignExchange album Leave It All Behind . In June 2009, the group announced that Zo is now an official artist on The ForeignExchange Music imprint and in November ... The group s third album, Authenticity ForeignExchange album Authenticity , was released on October ... Connected ForeignExchange album Connected August 24, 2004 Leave It All Behind ForeignExchange album Leave It All Behind October 14, 2008 68 US R&B Authenticity ForeignExchange album Authenticity ... External links http www.theforeignexchangemusic.com Official Website Little Brother DEFAULTSORT ForeignExchange Category Dutch hip hop groups Category American hip hop groups es ForeignExchange banda fr ForeignExchange ... more details
Unreferenced date December 2009 ForeignExchange Trading or FX Trading, clients are able to hedge finance hedge against, or speculate upon, changes in the exchange rate of two currency currencies . For example, a speculator can long EUR USD in foreignexchangemarket in order to profit from capturing the appreciation of Euro against the U.S. Dollar. Foreignexchange service s provide an opportunity for clients to trade FX. ForeignExchange Trading is done on the foreignexchangemarket . See also Forex scam Foreignexchange risk ForeignexchangemarketForeignexchange service List of finance topics DEFAULTSORT ForeignExchange Trading Category Foreignexchangemarket ... more details
A ForeignexchangemarketForeignexchange derivative finance derivative is a financial derivative finance derivative where the underlying is a particular currency and or its exchange rate . These instruments are used either for currency Derivative finance Speculation and arbitrage speculation and arbitrage or for hedge finance hedging foreignexchange risk . For detail see Foreignexchange option Forex swap Currency future Currency swap Foreignexchange hedge Binary option Foreignexchange Binary option Foreignexchange econ stub Derivatives market Category Foreignexchangemarket Category Derivatives finance ... more details
Unreferenced date December 2009 Foreignexchange spot trading is buying one currency with a different currency for immediate delivery, rather than for future delivery. The standard settlement timeframe for ForeignExchange Spot trades is T 2 days i.e., 2 days from the date of trade execution. A notable exception is the United States dollar USD Canadian dollar CAD currency pair which settles T 1. See also ForeignexchangemarketForeignexchangeForeignexchange trading Foreignexchange option Financial instruments DEFAULTSORT ForeignExchange Spot Trading Category Foreignexchangemarket ru Spot ... more details
Cable is a foreignexchangemarketforeignexchange term used for the GBP USD currency pair rate British Pound vs the US Dollar . It derives its name from the Transatlantic telegraph cable Transatlantic Cable , a steel cable laid under the Atlantic Ocean in 1858 , telegraphically linking the UK with the USA , enabling messages with currency prices to be transmitted between the London and New York Exchanges. Fibre optic cables and satellites have now taken over for both local and international communications, but the nickname has remained in the foreignexchange sector. Category Financial terminology Category Foreignexchangemarket ... more details
Unreferenced date December 2009 Founded in 1978 the ForeignExchange Committee is an industry group that provides guidance and leadership to the global foreignexchangemarket. The FXC includes representatives of major financial institutions engaged in foreign currency trading in the United States and is sponsored by the Federal Reserve Bank of New York . Past Committee members include John Spurdle of JP Morgan , Jeff Feig of Citigroup , Lloyd Blankfein of Goldman Sachs , Paul Kimball of Morgan Stanley , Michael deSa of Deutsche Bank , Robert Savage of American Express , Mark De Gennaro of Lehman , and John Key , the current prime minister of New Zealand . Category International economics Category Foreignexchangemarket ... more details
ForeignExchange may refer to ForeignExchange 1970 film , a British film starring Jill St John ForeignExchange 2008 film , an American film starring Jennifer Coolidge Disambig ... more details
10 Corporate FX 31 December 2009 648,000 See also Foreignexchangemarket Remittance Bureau de change Category Foreignexchange companies Notes Footnotes Reflist group nb References Reflist DEFAULTSORT ForeignExchange Companies Category Foreignexchange companies Category Foreignexchangemarket ...A non bank foreignexchange company also know as foreignexchange broker or simply forex broker is a company that offers foreignexchangemarket currency exchange and international payments to private individuals and companies. The term is typically used for currency exchange companies that offer physical delivery rather than Speculation speculative trading . i.e., there is a physical delivery of currency to a bank account. Foreignexchange companies are normally distinct from money transfer companies or remittance companies and Bureau de change as they typically perform high value transfers unlike their money transfer counterparts that focus on high volume low value transfers generally by economic migrants back to their home country or to provide cash for travelers. United Kingdom It is estimated that in the UK, 14 of currency transfers payments ref The Sunday Times UK , 16 July 2006 ref are made via non bank ForeignExchange Companies. These companies selling point is usually that they will offer better exchange rates or cheaper payments than the customer s bank. Synthesis date January 2011 The 10 largest companies in the UK by net profit as at November 2010. ref group nb All UK currency brokers must be Authorised as Payment Institutions by the FSA. This list is publicly available on the FSA website. All UK companies must also submit their full accounts to Companies House. The accounts of all the authorised payment institutions were checked with Companies House on the 18th November ... the exact revenue generated by Travelex from their private and corporate foreignexchange due to the number ... 6 Foreign Currency Direct 31 October 2009 1,886,165 7 Global Currency Exchange Network 31 March 2009 ... more details
Merge to Foreignexchange service telecommunications date August 2010 In telephony , a ForeigneXchange Station , or FXS , is a telephone Network interface interface that supplies battery power, provides dialtone , and generates ringing voltage . A device that connects to such an interface contains an Foreignexchange office FXO interface and could be a standard analog telephone or a private branch exchange PBX to receive telephone service. Any telephone exchange is an example of an FXS, as is the telephone plug telephone jack on the wall, though the term is rarely applied except in connection with Foreignexchange service telecommunications foreignexchange service . An FXS interface utilizes an FXO protocol to detect when the terminating device telephone goes on hook or off hook , and can send and receive voice signals. An FXS interface provides service at the station end of a foreignexchange line . See also Foreignexchange office FXO Foreignexchange service telecommunications Foreignexchange service Telephone line Telephone signaling interfaces References http library.thinkquest.org 14013 glossary Thinkquest.org , Telecommunication Glossary DEFAULTSORT ForeignExchange Station Category Telephony signals telecomm stub de ForeignExchange Station es FXS fr FXS it Foreignexchange station pl ForeignExchange Station pt FXS ru FXS ... more details
ForeignExchangeForeignexchange reserves also called Forex reserves or FX reserves in a strict sense ..., the term in popular usage commonly includes foreignexchange and Gold reserve gold , Special ... The quantity of foreignexchange reserves can change as a central bank implements monetary policy ... or selling the foreign currency. Mixed exchange rate regimes dirty floats , target bands or similar variations may require the use of foreignexchange operations Sterilization economics sterilized ... limits . Foreignexchange operations that are unsterilized will cause an expansion or contraction ... not target a specific exchange rate are said to have a floating exchange rate , and allow the market ... policy are generally preferred and they may limit the type and amount of foreignexchange interventions. Even those central banks that strictly limit foreignexchange interventions, however, often recognize ... in low demand is limited, a foreignexchange crisis or devaluation could be the end result. For a currency in very high and rising demand, foreignexchange reserves can theoretically be continuously accumulated ... allow a government to manipulate exchange rates usually to stabilize the foreignexchange rates ... the same power to manipulate exchange rates. Reserves of foreign currency provide a small return ... assets. Excess reserves Foreignexchange reserves are important indicators of ability to repay ... trillion Abu Dhabi Investment Authority would be second after China . Apart from high foreignexchange ... foreignexchange reserves. List of countries by foreignexchange reserves seealso List of countries by foreignexchange reserves File 2006reserves forex and gold .PNG thumb right Reserves of Special Drawing ... 20 largest countries by foreignexchange reserves class wikitable sortable align center bgcolor CCCCCC ... Taiwan ForeignExchange Reserves as at the End of February 2011. url http www.cbc.gov.tw ct.asp ...?TYPE Section&PARAM1 2 title Weekly Statistical Supplement ForeignExchange Reserves publisher ... more details
The National ForeignExchange Association is a non commercial association of commercial bank s, currency exchanges, brokerage firm s, and others dedicated to the development and improvement of a high standard foreignexchangemarket and money market in Russia. Founded in Moscow in 1999, the association had 74 members as of 2005. ref http www.nva.ru nva documents shared english show Official webcite of National ForeignExchange Association NFEA ref Among other activities, the National ForeignExchange Association coordinates with the Central Bank of Russia Bank of Russia in daily setting the Russian Overnight Index Average Ruonia , which operates similarly to the European Eonia . ref cite news url http www.bloomberg.com news 2010 09 10 bank rossii spurs swap trades as ruonia lures deutsche bank russia credit.html title Bank Rossii Spurs Swap Trades as Ruonia Lures Deutsche Bank Russia Credit last O Brien first Emma coauthors Denis Maternovsky date 9 September 2010 accessdate 19 September 2010 work Bloomberg L.P. Bloomberg ref ref cite news url http www.ruonia.ru en title RUONIA Ruble OverNight Index Average last first coauthors date accessdate 29 September 2010 work ref References reflist External links http www.nva.ru Official site Category Financial services companies of Russia Ru Russia company stub ... more details
market DEFAULTSORT ForeignExchange Option Category Options Category Derivatives finance ...refimprove date February 2011 ForeignExchange In finance, a foreignexchange option commonly shortened ... the owner has the right but not the obligation to exchange money denominated in one currency into another currency at a pre agreed exchange rate on a specified date. ref http au.ibtimes.com articles 111913 20110213 foreignexchange fx terminologies forward deal and options deal.htm ForeignExchange ... Securities Exchange , Philadelphia Stock Exchange , or the Chicago Mercantile Exchange for options on futures contract s. The global market for exchange traded currency options was notionally ... and a put option put on Pound sterling sterling , and is often called a GBPUSD put by market participants, as it is a put on the exchange rate it could equally be called a USDGBP call, but market convention ... Business Times AU on February 14, 2011. ref The FX options market is the deepest, largest and most liquid market for options of any kind in the world. Most of the FX option volume is traded Over ... the pre agreed exchange rate , or strike price , is 2.0000 USD per GBP or 0.5000 GBP per USD and the notionals ... the owner to sell GBP at 2.0000 and immediately buy it back in the spot market at 1.9000, making ... exchange their profit into GBP this amounts to 100,000 1.9000 52,631.58 GBP. Terms Generally ... in FX, where one exchanges a put on GBPUSD allows one to exchange GBP for USD it is at once ... the foreign currency notionals, not the local currency notionals, else the foreign currencies received ... Corporations primarily use FX options to hedge finance hedge uncertain future cash flows in a foreign currency. The general rule is to hedge certain foreign currency cash flows with forwards , and uncertain foreign cash flows with options . Suppose a United Kingdom manufacturing firm is expecting ..., the firm can enter into a forward contract to deliver the US 100,000 in 90 days time, in exchange ... more details
Merge to Foreignexchange service telecommunications date August 2010 In telecommunications, ForeigneXchange Office , or FXO , designates a telephone signaling interface that receives Plain old telephone service POTS , or plain old telephone service . It generates the off hook and on hook indications loop closure non closure at the Foreignexchange station FXS s end of a telephone circuit. Analog telephone handset s, fax machines and analogue modem s are FXO devices, though the term is rarely used except in connection with foreignexchange service telecommunications Foreignexchange service FX . FXO interfaces are also available for computers and networking equipment, to allow these to interact directly with POTS systems. These are commonly found in devices acting as gateways between Voice over Internet Protocol VoIP systems and the public switched telephone network PSTN . In a nutshell An FXO device is any device that, from the point of view of a telephone exchange , appears to be a regular telephone. As such, it should be able to accept ringing signal s, go on hook and off hook, and send and receive voice frequency signals. It may use loop start or ground start signaling. FXO channel units were invented and named in the middle 20th century for service at the Office end of an FX line via carrier system . See also Foreignexchange station FXS Foreignexchange service telecommunications Foreignexchange service FX External links http www.dceexpress.com FXS FXO Discussion.htm Differences between FXS and FXO DEFAULTSORT ForeignExchange Office Category Telephony signals telecomm stub de ForeignExchange Office es FXO fr Foreignexchange office it Foreignexchange office he FXO pms FXO pl ForeignExchange Office pt FXO ru FXO zh ... more details
ForeignExchange Student may refer to Student exchange program An episode of the TV show List of My Name Is Earl episodes Season 2 2006 2007 My Name Is Earl disambig ... more details
Multiple issues expert March 2009 primarysources March 2009 refimprove March 2009 unreferenced March 2009 The Foreign Exchange Regulation Act FERA was legislation passed by the Indian Parliament in 1973 by the government of Indira Gandhi . FERA imposed stringent regulations on certain kinds of payments, the dealings in foreign exchange and securities and the transactions which had an indirect impact on the foreign exchange and the import and export of currency. FERA was repealed in 2000 by the government of Atal Bihari Vajpayee and replaced by the Foreign Exchange Management Act , which liberalised foreign exchange controls and restrictions on foreign investment. Category 1973 in law Category Indian business law Category Repealed Indian legislation Category Economic history of India India econ stub ... more details
For the use of this term in finance Foreignexchange service finance Merge from Foreignexchange station date August 2010 Merge from Foreignexchange office date August 2010 In telecommunication , foreignexchange service FX is a telecommunications network network provided service in which a telephone in a given exchange area is connected, via a private line , to a central office in another foreignexchange, rather than the local exchange area where the device is located. To telephone call call originators, it appears that the called party having the FX service is located in the foreignexchange area. Purpose In basic telephony there are two types of offices local and foreign. A local office was assigned a specific area, and all telephone services provided to that area came from that central office. Each central office had its unique identifier. In the early days names were used, such as Jackson or Newton . The office names were changed to three digit numerical exchange codes NNX , prefixed to the local phone number not the area code . Customers who want a telephone number provided by a neighboring telephone central office, lease a foreignexchange line. With the old two wire loop technology, this would require an engineered circuit with increased costs. The practice is rare except in big cities. See also Foreignexchange station Foreignexchange office References FS1037C DEFAULTSORT ForeignExchange Service Telecommunications Category Telephone exchanges Category Communication circuits ... more details
Foreignexchange service may refer to Foreignexchange service finance Foreignexchange service telecommunications disambig Short pages monitor This long comment was added to the page to prevent it being listed on Special Shortpages. It and the accompanying monitoring template were generated via Template Longcomment. Please do not remove the monitor template without removing the comment as well. ... more details
resource center ed risk management FX Hedging White Paper DEFAULTSORT ForeignExchange Hedge Category Derivatives finance Category Financial risk Category Foreignexchangemarket ...A Foreignexchange hedge FOREX hedge is a method used by companies to eliminate or hedge finance hedge foreignexchange risk resulting from transactions in foreign currencies see Foreignexchange derivative ... Accepted Accounting Principles United States US GAAP . ForeignExchange Risk When companies conduct business across borders, they must deal in Currency foreign currencies . Companies must exchangeforeign currencies for home currencies when dealing with receivables, and vice versa for payables. This is done at the current exchange rate between the two countries. Foreignexchange risk is the risk that the exchange rate will change unfavorably before the currency is exchanged. Hedge A hedge finance ... for a company to minimize or eliminate foreignexchange risk. Two common hedges are forwards and Option finance options . A Forward contract will lock in an exchange rate at which the transaction will occur in the future. An option sets a rate at which the company may choose to exchange currencies. If the current exchange rate is more favorable, then the company will not exercise this option ... purchase and A P of 20000C A P 20,000.00 12 31 Y1 ForeignExchange Loss 1,000.00 To adjust value ... Premium Expense 266.67 Allocate the fwd contract discount AOCI 266.67 3 1 Y2 ForeignExchange Loss ... of 20000C A P 20,000.00 12 31 Y1 ForeignExchange Loss 1,000.00 to adjust value for S.R of 1.05 A P ... 1,176.36 3 1 Y2 ForeignExchange Loss 1,400.00 to adjust value for S.R. of 1.12 A P 1,400.00 Forward ... for them in year 2, after the exchange rate has changed. class wikitable Date Spot Rate US value Change ... Foreign Currency 22,400.00 To record the settlement of the fwd. cont. Forward Contract 1,600.00 Cash 20,800.00 A P 22,400.00 To record the payment of the A P Foreign Currency 22,400.00 Notice how in year ... more details
footnotes chinese s t p Gu ji w ihu gu nl j The State Administration of ForeignExchange of the People s Republic of China is an administrative agency tasked with drafting rules and regulations governing foreignexchangemarket activities, and managing the state foreignexchange ... credit and external debt development and supervision of the foreignexchangemarket , foreignexchange reserves , gold reserves , and other foreignexchange assets of the state. setting Renminbi convertibility exchange rate policy Investments The magnitude of China s reserves is disclosed ...Infobox Government agency agency name State Administration of ForeignExchange nativename nativename ... foreignexchange holdings by making somewhat riskier but higher yielding investments. Pronouncements ... years, with only about 20bn in funds under management. ref name emerges See also Foreignexchange reserves Foreignexchange reserve of the People s Republic of China List of countries by foreign ... links http www.safe.gov.cn State Administration of ForeignExchange Official site zh icon http www.nytimes.com ... Administration of ForeignExchange fr State Administration of ForeignExchange zh ... Department Science and Technology Department Institutions affiliated with the SAFE Central ForeignExchange Business Center Information Center General Services Center Editorial Office of the ForeignExchange of China journal. Functions drafting laws, standards, policies and reform of the forex administration ... at the Financial crisis of 2007 2010 peak of the market would exceed US 80bn. ref name ft billions lost Brad Setser said SAFE has built up one of the largest US equity portfolios of any foreign government ... us80b foreign equity losses 20090316 8zmx.html title China faces US80b foreign equity losses date 16 ... of those assets.... Investing in U.S. Treasury bonds is an important component of China s foreign ... an important role in defending the value of the Renminbi and Hong Kong dollar s fixed exchange ... more details
ForeignExchangeForeignexchange controls are various forms of controls imposed by a government on the purchase sale of foreign currency currencies by residents or on the purchase sale of local currency by nonresidents. Common foreignexchange controls include Banning the use of foreign currency within the country Banning locals from possessing foreign currency Restricting currency exchange to government approved exchangers Fixed exchange rates Restrictions on the amount of currency that may be imported or exported Countries with foreignexchange controls are also known as Article 14 countries, after the provision in the International Monetary Fund agreement allowing exchange controls for transitional economies. Such controls used to be common in most countries, particularly poorer ones, until the 1990s when free trade and globalization started a trend towards economic liberalization. Today, countries which still impose exchange controls are the exception rather than the rule. Current countries with foreignexchange controls list very incomplete dynamic list Argentina Bahamas http www.centralbankbahamas.com Barbados Brazil ref cite web url http www.internationaltaxreview.com ?Page 10&PUBID 35&ISS 14052&SID 494386&TYPE 20 title Brazil Brazil simplifies foreignexchange controls author N lio Weiss and Philippe Jeffrey date April, 2005 work publisher International Tax Review PricewaterhouseCoopers accessdate 2009 12 29 ref People s Republic of China China Cuba Egypt Fiji India Sri Lanka Libya Malaysia Mauritius Theoretically speaking, exchange controls were abolished in 1994, but the rules still state that repatriation of foreign investment and the profits from it is subject ... Chapter 206 20 20Foreign 20Exchange 20Controls.pdf title Chapter 6 ForeignExchange Controls ...&pg PA924&lpg PA924&dq foreignexchange controls in Ukraine&source bl&ots PEDI6UPEG &sig xvL0b7Si0JSzouisj14mwqeGy ... v onepage&q foreign 20exchange 20controls 20in 20Ukraine&f false Venezuela Zimbabwe See also ... more details
Unreferenced date February 2008 A foreignexchange certificate , sometimes abbreviated to FEC , is a type of currency . Foreignexchange certificates are sometimes used by governments as a surrogate for a national currency, where the national currency is usually subject to exchange controls or is not convertible. Most examples of foreignexchange certificate have an exchange rate higher than the national currency, being either pegged to a hard currency, or their exchange rate determined by the central bank. Some countries which have employed FECs in the past include Soviet Union China Burma Myanmar East Germany forum cheque s, Fixed exchange rate pegged to the West Germany West German Deutsche Mark Ghana it was illegal to import and export Ghanaian cedi banknotes around 1980 North Korea Cuba Today s Cuban convertible peso convertible peso , to an extent, is a form of FEC Czechoslovakia Tuzex Bulgaria Corecom Poland Category Currency Money stub de ForeignExchange Certificate ja ... more details
An automated trading environment can generate more trades per market than a human trader can ... their own strategies and instead can select a system based on its performance to date, making Foreignexchangemarket Forex trading accessible to a large number of people. Disadvantages As a decentralized and relatively unregulated market, it is extremely attractive to a number of Forex scam s. Forex .... Bodies such as the National Futures Association and the U.S. Securities and Exchange Commission ... investor pubs autotrading.htm title All About Auto Trading publisher U.S. Securities and Exchange ... National Futures Association NFA U.S. Securities and Exchange Commission SEC ZuluTrade References ... more details
The ForeignExchange Regulation Act of 1973 FERA in India was repealed on 1 June 2000. It was replaced by the ForeignExchange Management Act FEMA , which was passed in the winter session of Parliament in 1999. Enacted in 1973, against the backdrop of acute shortage of Foreignexchange reserves ForeignExchange in the country, FERA had a controversial 27 year stint during which many bosses of the Indian corporate world found themselves at the mercy of the Enforcement Directorate E.D. . Any offense under FERA was a criminal law criminal offense liable to imprisonment, whereas FEMA seeks to make offenses related to foreignexchange Civil law common law civil offense s. FEMA, which has replaced FERA, had become the need of the hour since FERA had become incompatible with the pro liberalisation policies of the Government of India . FEMA has brought a new management regime of ForeignExchange consistent with the emerging framework of the World Trade Organisation WTO . It is another matter that the enactment of FEMA also brought with it the Prevention of Money Laundering Act 2002, which came into effect from 1 July 2005 and the heat of which is yet to be felt as the Enforcement Directorate would also be investigating cases under PMLA. Unlike other laws where everything is permitted unless specifically prohibited , under FERA everything was prohibited unless specifically permitted . Hence the tenor and tone of the Act was very drastic. It required imprisonment for even a very minor offense. Under FERA a person was presumed guilty unless he proved himself innocent , whereas under other laws a person is presumed innocent unless he is proven guilty . External links http fema.rbi.org.in Reserve Bank of India FEMA website http finmin.nic.in the ministry dept eco affairs america canada fema acts index.htm FEMA from the Finance Ministry http www.nrirealtynews.com nri banking fema rules.php ... 2000 in India Category Vajpayee administration fr ForeignExchange Management Act ... more details
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