Question

What does the two way rates quoted as 1$=75.10/11 ₹, mean?

Q: What does the two way rates quoted as 1$=75.10/11 ₹, mean?

Two way rates: have separate rates for buying & selling. The rates are from Bank’s perspective: · While Buying rate is 75.10 in this case While Selling rate is 75.11 in this case

A 1$ is being sold at 75.11 ₹.

B 1$ is being sold at 75.10 ₹.

C 1$ is being sold at 75.21 ₹.

D 1$ is being sold at 75.01 ₹.

E 1$ is being sold at 74.99 ₹.

Download PDF Practice Next

More Alternate Sources of Finance Questions

Persons other than individuals can remit funds overseas, towards donations for certain specified purposes, up-to ____
Who is the regulator of the financial activities of the International financial services centre – GIFT City?
Which among the following represent the potential benefits an individual, investor, or business misses out on when choosing one alternative over another?
How many international credit rating agencies’ ratings have been allowed by RBI to be used by banks for the purposes of risk weighting their claims for capital adequacy purposes?
Which of the following entity facilitates the guarantee under the Emergency Credit Line Guarantee Scheme (ECLGS)?
Till December 2021, Indian banks had raised more than Rs 37,000 crore by issuing new AT1 bonds in financial year FY22. AT1 Bonds are also commonly known as _________
An Ordinary Non-Resident Account (NRO) can be opened with:
Which of the following principle applies when Provision for Doubtful Debts is required to be maintained in the books of accounts?
Where are the exchange differences treated in the financial statements?
Any accidental loss to the consigned goods or loss caused by carelessness will be classified as which among the following in the terminology of Process Costing?

Relevant for Exams:

Union Bank of India SO

Bank of Maharashtra (Forex Officer)

Question

What does the two way rates quoted as 1$=75.10/11 ₹, mean?

Solution

Relevant for Exams:

I Pledged to: