Foreign Exchange Management

Foreign exchange management can be defined as the exchange of currencies into other currency. This is a very broad and strategically important topic encompasses everything for example conversion of currencies by a traveler at the airport kiosk, billion-dollar payments made by corporations and etc.MBA course in foreign exchange management focuses on imparting in-depth knowledge of various activities involved in this field so that students become able to understand the complexities of this field and could take appropriate decisions. There are various functions in the foreign exchange management such as transfer function which includes the conversion of one currency to another, credit function which includes providing short-term credits to the importers for the smooth flow of goods and services from one country to another, hedging and etc. Foreign exchange management focuses on creating foreign exchange reserve at the optimum level, controlling the risk of foreign exchange, maximizing the consolidated earning of international business and etc. The other aspects of this field are the following:

• The individuals of this field are responsible for providing information to the clients or customers about financial products, the financial markets, insurances and etc.
  
• The individuals need to administer various activities of this field efficiently such as activities related to foreign exchange, taking care of deposits and making voucher payments.
  
• The job opportunities are ample not only in India but also abroad in various international banks, MNCs and other institutions.