DBS Bank Forex Rates (1)

DBS Bank Forex Rates 04-08-2022

Daily Forex Rates

DBS Bank Forex Rates 04-08-2022

class=”sc-fjdhpX cTxtzU”>Currency Exchange Rate

DBS Bank

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.

DBS Toll Free Customer Care Numbers

Currency Selling TT Selling Cash Buying TT Buying Cash
US Dollar 80.9612 80.9612 77.7863 77.7863
Singapore Dollar 58.7815 58.7815 56.1948 56.1948
Australian Dollar 56.4244 56.4244 53.9414 53.9414
Swiss Franc 84.425 84.425 80.7097 80.7097
Euro 82.4757 82.4757 78.8462 78.8462
British Pound 98.6097 98.6097 94.2701 94.2701
Canadian Dollar 63.1659 63.1659 60.3861 60.3861
Hong Kong Dollar 10.3399 10.3399 9.8849 9.8849
Japanese Yen 0.6066 0.6066 0.5799 0.5799
United Arab Emirates Dirham 22.0964 22.0964 21.124 21.124

Leave a Reply

Your email address will not be published.

5 − three =