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Last chance ?? #tradingpatterns #trading #financebook #stockmarket #howtotradechartpatterns #forexThe paper is in four sections. The first defines what is meant by exchange rate policy. As will be seen, three types of policy directly. The Foreign Exchange Management Act, is an Act of the Parliament of India "to consolidate and amend the law relating to foreign exchange with the objective of facilitating external trade and payments and for promoting the orderly development. What is the objective of FEMA? The main objective of FEMA is to facilitate external trade and payments and for promoting the orderly development and maintenance.