S.

K SOMAIYA COLLEGE OF ARTS, SCIENCE & COMMERCE

VIDYAVIHAR (EAST), MUMBAI - 400077

PROJECT ON:
FOREIGN EXCHANGE MARKET
MASTERS OF COMMERCE
(BANKING & FINANCE)

PART 11 (SEM)
(2016-2017)

Submitted:
In Partial Fulfillment of the requirements
For the Award of the Degree of
MASTERS OF COMMERCE
(BANKING & FINANCE)
BY
JINAL D PANCHAL
ROLL NO : 33

DECLARATION
I JINAL D PANCHAL student of class in M.com
(BANKING & FINANCE) PART 11 (SEM-111),
ROLL NO.33, academic year 2016-2017 Studying at
S.K. SOMAIYA COLLEGE OF ARTS, SCIENCE AND COMMERCE, hereby
declare that the work done on the project Entitled FOREIGN EXCHANGE
MARKET is true and original and any Reference used in this project is duly
acknowledged.

DATE:
PLACE: MUMBAI

----------------------------SIGNATURE OF STUDENT
(JINAL D PANCHAL)

CERTIFICATE
This is to certify that MISS. JINAL D PANCHAL studying in M.com
(BANKING & FINANCE) PART 11 (SEM-111), ROLL NO. 33, academic year
2016-2017 at S.K.SOMAIYA COLLEGE OF ARTS, SCIENCE &
COMMERCE has completed the project on FOREIGN EXCHANGE
MARKET under the guidance of PROF. PRAVIN MALU
The information submitted herein is true and original to the best of my
knowledge.

PROF.PRAVIN MALU

____________________
EXTERNAL EXAMINER

DR. SANGEETA KOHLI

MR RAVIKANT SANGURDE
[CO-ORDINATOR]

DECLARATION BY GUIDE

I, the undersigned Prof. PRAVIN MALU has guided MISS JINAL D PANCHAL , ROLL NO
33 for his project. He has completed the project on FOREIGN EXCHANGE MARKET
successfully.
I, hereby declare that information provided in this project is true as per the best of my
knowledge.

Thanking
You,
Yours Faithfully,

(Prof.
PRAVIN MALU)
Project Guide

ACKNOWLEDGEMENT
It gives me immense pleasure to present a project on FOREIGN EXCHANGE
MARKET As a M. com student it is a great honour to undergo a project work at
an graduate level and I would like to thank the University of Mumbai for giving
me such a golden opportunity.

I am eternally grateful to almighty god for giving me the spirit to put in my best
effort towards my project. I owe my sincere gratitude to DR. SANGEETA
KOHLI, the principal of our college. I am also thankful to my project guide
PROF.PRAVIN MALU for his valuable guidance and for providing an insight to
the subject.
I am also obliged to the library staff of S.K.. Somaiya College for the numerous
books made me available for the handy reference.
Although, I have taken every care to check mistake and misprint yet it is difficult
to claim perfection. Any error, omission and suggestion brought to my notice, will
be thankfully acknowledged by me.

TABLE OF CONTENT

Sr. NO

PARITCULARS

PAGE NO

1.

INTRODUCTION

2.

FEATURES OF FOREIGN EXCHANGE

MARKET
3.

FACTORS AFFECTING FOREIGN EXCHANGE

RATES
4.

MAJORS PARTICIPANTS OF FOREIGN

14

EXCHANGE MARKET
5.

LEVEL OF FOREIGN EXCHANGE MARKET

24

6.

CONCLUSION

39