Axis Bank Forex Rates
Traveling abroad means that one needs to carry Foreign Cash. It is the oldest and the most common method of carrying foreign exchange and the easiest payment method abroad. There are a lot of features and benefits on carrying foreign cash; chief among them is the buy-back policy by which we can ensure any unused foreign currency cash can be encashed. Other features and benefits of Foreign Currency Cash include being able to choose the currency you want. Since more than 14 currencies are available in various denominations. It lets you make payments with ease. It is the most trusted of all foreign exchange cash. If you have further queries regarding this, please feel free to get in touch with us.
Preferential rates available to NRI customers on USD currency.
Find the latest exchange rates to buy, sell, send or receive foreign currency through International Money Transfers, drafts, cash or Travel Money Cards.
Calculate how much you can get with our Foreign Exchange Calculator.
What Is Foreign Exchange (Forex)?
Foreign Exchange (forex or FX) is the trading of one currency for another. For example, one can swap the U.S. dollar for the INR.
A foreign exchange rate is the price of the domestic currency stated in terms of another currency. In other words, a foreign exchange rate compares one currency with another to show their relative values. Since standardized currencies around the world float in value with demand, supply, and consumer confidence, their values change relative to each over time. For instance, one US dollar in 2011 was worth about .68 Euros. In 2014, one US dollar is worth .75 Euros. This means the dollar has increased in value over this three-year span, but the Euro is still 25% more valuable
The forex market is the largest, most liquid market in the world, with trillions of dollars changing hands every day.1 There is no centralized location, rather the forex market is an electronic network of banks, brokers, institutions, and individual traders (mostly trading through brokers or banks).
Explanation of Terms:
T.T. Buying -Rate at which a Foreign Inward Remittance received by Telegraphic Transfer, Foreign DD or Foreign Cheque is converted into Rupees. In respect of Foreign DDs & Cheques, interest/charges at the ruling rate will be deducted towards transit period/collection as per FEDAI guidelines.
T.C. Buying – Rate at which Foreign Currency Traveller’s Cheques are bought from the customer.
Currency Buying – Rate at which Foreign Currency Note is bought from the customer.
T.T. Selling – Rate applicable when a customer sends an outward remittance through Telegraphic Transfer or through Issuance of Demand Draft.
T.C. Selling – Rate applicable when a customer buys Foreign Currency Traveller’s Cheques from the Bank. The same will be arranged through TC issuers.
Currency Selling – Rate applicable when a customer buys Foreign Currency notes from the Bank. This is however, subject to availability of currency notes at the Branch concerned.
Note: All Rates Displayed below are directly taking from respective websites of bank, For more exact details, Please contact Concern Bank.
Axis Forex Rates
How To Calculate GST on foreign Currency Conversion – Calculate GST on Inward Remittance
|Currency||Code||Amount Range||I want to|
|Other Rates||Open NRI Account||Apply Now|
|Great British Pound||GBP||.01-800||107.98||100.69||107.15||99.55|
|Hong Kong Dollar||HKD||.01-8000||10.8||9.98||10.8||9.7|
|New Zealand Dollar||NZD||.01-1500||53.77||50.2||53.95||49.05|
|South African Rand||ZAR||.01-10000000||4.69||4.04||4.7||4.05|