Question
On March 03, a saving bank customer in India, requests
for issue a USD 10,000. The inter-bank currency rates are as under: Spot rate: 1 USD = Rs.85.00 /0.50 Sep forward margin = 0.35 / 0.40 Bank requires an exchange margin of 0.15%. What rate will be quoted and how much amount will be debited to customer's account.Solution
Here TT selling rate should be used and exchange margin will be added, since for the bank, it is a sale transaction. Spot rate selling rate = 85.50 Add margin @ 0.15% = 85.61 Gross amount due from customer = 85.61 x 10000 = 856100
More Financial Management Questions
- Which letter-cluster will replace the question mark (?) in the following series?
NPQR, OORQ, PNSP, ____, RLUN - Which letter-cluster will replace the question mark (?) in the following series?
RGV, UME, ?, AYW, DEF - Which letter and number cluster will replace the question mark (?) to complete the given series?
LT6, KU12, IW24, FZ48, ____ - A series is given with one term missing. Choose the correct alternatives from the given ones that will complete the series.
57, 59, 56, 61, 54, ___ - Select the number from among the given options that can replace the question mark (?) in the following series.
17, 18, 22, 31, 47, ___
Relevant for Exams:
