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NOTE: This certificate should be carefully preserved to facilitate reconversion of the rupee balance, if any, into foreign currency at the time of departure from India and/or for payment in rupees of hotel bills, passage fare or freight on personal baggage, if necessary.

It gives the right to convert a specified amount of one currency into another currency at the fixed rate. The holder can do this up to a set expiration date. These certificates are often used in international trade. They help companies mitigate exchange rate risk by protecting from rate fluctuations.

Exchange Certificates Exchange Certificate means a Common Security Certificate or an Exchange Capital Security Certificate.

Most Foreign Exchange Reserves Are in U.S. Dollars Source: International Monetary Fund's Currency Composition of Official Foreign Exchange Reserves (COFER) database.

Certificate in Foreign Exchange (CFX)

A certificate denominated in local currency, which foreign citizens are required to use for some or all of their purchases. The exchange rate may be more favourable for the visitor than the official commercial rate. The purpose is to channel the foreign exchange to the state coffers instead of the black market.

A Certificate of Currency (CoC) is proof that you hold a current insurance policy and includes the details and expiry of the policy.

Currency valuation refers to the process of determining the relative worth of a currency in relation to other currencies. Various factors influence it, including interest rates, inflation, and market sentiment. A stronger currency can make imports cheaper, boost purchasing power, and attract foreign investors.