Question : Fixed Foreign Exchange Rate can be changed by _____.
Option 1: RBI
Option 2: SEBI
Option 3: Ministry of Finance
Option 4: FIPB
Answer (1)
27th Jan, 2024
Correct Answer: RBI
Solution : The correct option is RBI .
The Reserve Bank of India (RBI), was established on April 1, 1935 and is headquartered in Mumbai. A fixed foreign exchange rate can be changed by the government or central bank that has established the rate. Some ways in which a fixed exchange rate can be changed are:
- Open market operations
- Changing the peg
- Changing interest rates
- Capital controls
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