DBS Bank Forex Rates (1)

DBS Bank Forex Rates 08-05-2023

DBS Bank Forex Rates 08-05-2023

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 83.362 83.362 80.093 80.093
Singapore Dollar 63.0688 63.0688 60.2935 60.2935
Australian Dollar 56.5481 56.5481 54.0597 54.0597
Swiss Franc 94.0044 94.0044 89.8677 89.8677
Euro 92.2553 92.2553 88.1954 88.1954
British Pound 105.676 105.676 101.0254 101.0254
Canadian Dollar 62.4802 62.4802 59.7306 59.7306
Hong Kong Dollar 10.6484 10.6484 10.1798 10.1798
Japanese Yen 0.6198 0.6198 0.5925 0.5925
United Arab Emirates Dirham 22.7572 22.7572 21.7558 21.7558

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