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He said the allegations had cast doubt on the reliability of foreign exchange rates, and also said the regulator is probing other benchmarks....
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Black-market activity in foreign exchange is prevalent in countries in which convertible foreign exchange is scarce and strict control of foreign exchange exists.
Reserves of foreign exchange are believed to be below $100m.
Tourism is a growing source of foreign exchange.
By contrast, a rival agency, the State Administration of Foreign Exchange, oversees China's foreign exchange reserves.
Allegations about potential fixing of foreign exchange markets emerged last year.
Governments may interfere with the processes of foreign trade for a reason quite different from those thus far discussed: shortage of foreign exchange (see international payment and exchange).
Zoe Cruz, who previously was co-chief of foreign exchange, will become worldwide head of fixed income, commodities and foreign exchange.
Foreign tourists number more than 300,000 a year, and the tourist industry is an important earner of foreign exchange.
In the 1970s India had a shortage of foreign exchange and an abundance of labour.
A shortage of foreign exchange limited the purchase of essential materials and parts, which handicapped industry.
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