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Question

Crystallisation of outstanding Foreign currency liability into rupee liability, in case of non realisation of export bill, is to be done at ________

A Bank TT Selling Rate Correct Answer Incorrect Answer
B Bank TT Buying rate Correct Answer Incorrect Answer
C Bank bill Buying rate Correct Answer Incorrect Answer
D Bank bill selling rate Correct Answer Incorrect Answer
E None of the above Correct Answer Incorrect Answer

Solution

Consequent upon non-realization, Conversion of Foreign Exchange liability into Rupees is called crystallization. In case the importer fails to make payment, crystallization of Foreign Exchange liability into Indian Rupees is done on 10th day at TT selling Rate.

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