Question

When a financing bank crystallizes an overdue foreign currency export bill, which foreign exchange rate is applied to convert the foreign currency amount into Indian Rupees (IN

  • R ?
A TT Buying Rate on the original bill purchase date
B Bill Buying Rate on the date of shipment
C TT Selling Rate on the date of crystallisation
D Spot Buying Rate on the due date
E RBI Reference Rate on the order booking date
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