Answer-What does the two way rates quoted as 1$=82.10/11 ₹, mean?

Q: Answer-What does the two way rates quoted as 1$=82.10/11 ₹, mean?

Two way rates have separate rates for buying selling. The rates are from Banks perspective While Buying rate is 82.10 in this case While Selling rate is 82.11 in this case Difference between exchange rates is commission of the Authorized Person.

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What does the two way rates quoted as 1$=82.10/11 ₹, mean?

Question

What does the two way rates quoted as 1$=82.10/11 ₹,

mean?

A 1$ is being sold at 82.10 ₹. Correct Answer Incorrect Answer

B 1$ is being sold at 82.11 ₹. Correct Answer Incorrect Answer

C 1$ is being sold at 82.21 ₹. Correct Answer Incorrect Answer

D 1$ is being sold at 82.01 ₹. Correct Answer Incorrect Answer

E 1$ is being sold at 81.99 ₹. Correct Answer Incorrect Answer

Solution

Two way rates: have separate rates for buying & selling. The rates are from Bank’s perspective: •While Buying rate is 82.10 in this case •While Selling rate is 82.11 in this case Difference between exchange rates is commission of the Authorized Person.

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Relevant for Exams:

Union Bank of India SO

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