
108 INTERNATIONAL FINANCIAL MANAGEMENT
b. A merchant in Mumbai has imported machinery
from the United Kingdom, billed at GBP 2 million.
The payment is made immediately by transfer of
funds through a bank in India.
c. An Indian citizen has undergone medical treatment
in the United States and paid USD 0.50 million by a
cheque drawn on a bank in India.
d. A firm in India has issued bonds for INR 100 million
in Japan.
e. A resident in India has received USD 0.25 million as
dividend from a company in the United States.
Case Study
On fears of tapering of the quantitative easing (QE) pro-
gramme by the Federal Reserve, there had been sudden st ...