If you are going to a bank to exchange foreign money you will pay a small fee. Most companies that exchange foreign money will charge a small commission.
Paying more than one needs to when exchanging currency is a terrible waste of money. Someone can get the best exchange rate when buying foreign currency by visiting a bank because banks likely will have the best exchange rates.
No, they do not.
Foreign exchange market is a market where foreign exchange currency problems are resolved in international trade. Where as Money market is for the lending and borrowing of short term loans.
yes all banks do. contact your bank and ask them they will probably tell you that they do exchange foreign money if you are planning on doing that then tell your bank and exchange some foregn money:)
The foreign exchange rate helps determine the value of money. When the exchange rate is high, then the currency is less valuable.
Depends on the current foreign exchange rate. Ask your bank.
At local banks and travel booth ect.
Can any one tell me what is the process to get a RBI license for setting up a small Money Exchange to buy and sell foreign exchange.
You can loose high your money if you do not using best money management and psikology.
Foreign exchange market
Maybe. Some currency they don't exchange. I had Russian rubles and they wouldn't exchange them.