Introduction Foreign exchange and exchange rate systems are central to the functioning of modern economies in an interconnected world. They determine the value of a country’s currency in relation to others, directly affecting trade, investment, capital flows, tourism, and economic stability. For a developing economy like India, foreign exchange management and exchange rate policy are…
Introduction Money, in any form, is not merely a medium of exchange—it is also a matter of trust. For centuries, societies have struggled to decide what should serve as “money”: gold, silver, coins, or paper backed by governments. In the modern world, no currency has held greater power, acceptance, and trust than the United States…
Introduction Globalization refers to the process of increasing interconnectivity and interdependence among countries and regions through the exchange of goods, services, technology, and culture. Over the last few decades, globalization has become a driving force behind many economic, social, and political changes. While it has contributed to global economic growth and poverty reduction, it has…