Currency definition under foreign exchange law clarifies instruments treated as currency, including payment and credit instruments. The statutory concept of Currency for foreign exchange regulation comprises physical money and a broad range of payment and negotiable instruments-postal and money orders, cheques, travellers cheques, letters of credit, bills of exchange, promissory notes, credit cards-and may be extended by regulatory notification to include debit/ATM cards or any instrument capable of creating a financial liability.
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Provisions expressly mentioned in the judgment/order text.
Currency definition under foreign exchange law clarifies instruments treated as currency, including payment and credit instruments.
The statutory concept of Currency for foreign exchange regulation comprises physical money and a broad range of payment and negotiable instruments-postal and money orders, cheques, travellers cheques, letters of credit, bills of exchange, promissory notes, credit cards-and may be extended by regulatory notification to include debit/ATM cards or any instrument capable of creating a financial liability.
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