Foreign exchange

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devkishore singh hodam (Querist)
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10 May 2012 Respected sir,
It is said that while exporting we earn foreign currency and while importing we consume foreign currency.

My query is why should we earn foreign currency while exporting should the foreign party not make the payment in Indian currency.

Further, while importing it is OK we make the payment in foreign currency.

HIREN

HIREN (Expert)
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10 May 2012 (1)As per my view mode of payment does not matter whether we make payment in foreign currency or indian currency

(2) The matter that is concern is that if we import we depend on other country from point of view of economics and vice versa.