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A Full-Fledged Money Changers (FFMC) serve as a pivotal entity in the financial landscape, specializing in the exchange of foreign currencies for local currency and vice versa. These establishments play a crucial role in facilitating international trade, tourism, and other cross-border transactions by providing individuals and businesses with the ability to convert one currency into another with relative ease and convenience. 
Anyone who wishes to transact in foreign currencies must first obtain an FFMC License in India from the Apex Bank or RBI. The holders of such a license are permitted to buy foreign currency from NRIs (Non-Resident Indians) and sell it to Indian tourists traveling overseas for business.

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