India to represent soon in Global Foreign Exchange Committee

Guwahati/ 10th July’2017 (Prag News Desk): India will represent soon in Global Foreign Exchange Committee (GFXC) of various central bankers and experts to practice work towards the development.

In a report, Financial Stability Board (FSB) an international body for the global financial at the G20 Summit of leaders misconduct risk in the financial sector.

GFXC is under the guidance of the Bank for International Settlements (BIS) owned by 60 central bank members which represent the countries around the world.

The new GFXC is composed of both public and private sector.

Earlier Global Foreign Exchange Committee was introduced with eight foreign exchange committee includes Australia, Canada, Euro area, Hong Kong, Japan, Singapore, United Kingdom and United States, source added.

At present, committee will include representatives from Brazil, China, India, Korea, Mexico, South Africa, Sweden and Switzerland.

India agreed to keep market open with protection from all unfair trade practices.

Prime Minister Narendra Modi said India is ready to fight against corruption and black money.

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