Explain the meaning of the followings terms as defined under the Foreign Exchange Management Act, 1999: (i) Authorised person (ii) Currency

(i) Authorised person According to section 2(c) of the Foreign Exchange Management Act, 1999, Authorised person means an authorised dealer, money changer, off- shore banking unit or any other person for the time being authorised under section 10 (1) to deal in foreign exchange or foreign securities. (ii) Currency According to section 2(h) of the Foreign Exchange Management Act, 1999, Currency includes all currency notes, postal notes, postal orders, money orders, cheques, drafts, travelers' cheques, letters of credit, bills of exchange and promissory notes, credit cards or such other similar instruments, as may be notified by the Reserve Bank.