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Today claimed that it had verified a letter confirming the US$8 billion in black money was in UBS bank account, and the government of India too has verified this with UBS. [ 83 ] The UBS bank has denied Indian reports alleging that it maintained a business relationship with or had any assets or accounts for Hasan Ali.
When the naira was introduced, it had an official exchange rate of US$1.52 for ₦1, though a currency black market existed in which the naira traded at a discount relative to the official exchange rate. The official exchange rate set by the Central Bank of Nigeria: naira to U.S. dollar is approximately ₦767.54 per 1 US dollar.
In the mid 1990s, the Committee for the Development of the Debt Market had studied and recommended the development of a benchmark rate for the call money markets in India. Accordingly, National Stock Exchange of India (NSE) developed and launched the NSE Mumbai Inter-Bank Bid Rate (MIBID) and NSE Mumbai Inter-bank Offer Rate (MIBOR) for the ...
This is a list of circulating fixed exchange rate currencies, ... Indian rupee: 1.6 Netherlands Antillean guilder: U.S. dollar: 1.79 Niue dollar: New Zealand dollar: 1
De Facto Classification of Exchange Rate Arrangements, as of April 30, 2021, and Monetary Policy Frameworks [2] Exchange rate arrangement (Number of countries) Exchange rate anchor Monetary aggregate target (25) Inflation Targeting framework (45) Others (43) US Dollar (37) Euro (28) Composite (8) Other (9) No separate legal tender (16) Ecuador ...
The data on exchange rate for Japanese Yen is in per 100 Yen. The end year rate for 1998–99 pertain to March 26, 1999 of Deutsche Mark rate. Data from 1971 to 1991–92 are based on official exchange rates. Data from 1992 to 1993 onward are based on FEDAI (Foreign Exchange Dealers' Association of India) indicative rates.
The spot exchange rate is the current exchange rate, while the forward exchange rate is an exchange rate that is quoted and traded today but for delivery and payment on a specific future date. In the retail currency exchange market, different buying and selling rates will be quoted by money dealers.
The introduction of SFEM was to dampen interest in the black market, deregulate the financial sector and allow market forces to determine the exchange rate. SFEM began in September 26, 1986 with the value of the naira determined by weekly auction and the highest bids receive not more than 10% of the allocation. [ 1 ]