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| Topic: |
History
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| Number of pages / Number of words: |
280 / 78195 |
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Sometimes it is referred to as the process of conversion of one currency into another, sometimes as the process of transferring money from one country to another. In Bangladesh it has a legal definition too. In terms of Section 2(d) of the F.E.R. Act, 1947, as adapted in Bangladesh, ‘foreign exchange’ means foreign currency and includes instruments expressed in foreign exchange, all deposits, credits and balances payable in foreign currency as well as foreign currency instruments such as draft, TC, bills of exchange, promissory note and letter of credit payable in any foreign currency...
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Sometimes it is referred to as the process of conversion of one currency into another, sometimes as the process of transferring money from one country to another. In Bangladesh it has a legal definition too. In terms of Section 2(d) of the F.E.R. Act, 1947, as adapted in Bangladesh, ‘foreign exchange’ means foreign currency and includes instruments expressed in foreign exchange, all deposits, credits and balances payable in foreign currency as well as foreign currency instruments such as draft, TC, bills of exchange, promissory note and letter of credit payable in any foreign currency...
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