DBS Bank Forex Rates (1)

DBS Bank Forex Rates 05-05-2023

DBS Bank Forex Rates 05-05-2023

Daily Forex Rates DBS Bank

DBS Bank Forex Rates 26-08-2022

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.

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How To Calculate GST on foreign Currency Conversion – Calculate GST on Inward Remittance

Currency Selling TT Selling Cash Buying TT Buying Cash
US Dollar 83.4296 83.4296 80.1579 80.1579
Singapore Dollar 63.1088 63.1088 60.3317 60.3317
Australian Dollar 56.2527 56.2527 53.7773 53.7773
Swiss Franc 94.5465 94.5465 90.3858 90.3858
Euro 92.3108 92.3108 88.2486 88.2486
British Pound 105.3758 105.3758 100.7385 100.7385
Canadian Dollar 61.9029 61.9029 59.1787 59.1787
Hong Kong Dollar 10.656 10.656 10.187 10.187
Japanese Yen 0.6238 0.6238 0.5964 0.5964
United Arab Emirates Dirham 22.7745 22.7745 21.7722 21.7722

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