DBS Bank Forex Rates (1)

DBS Bank Forex Rates 16-11-2022

DBS Bank Forex Rates 16-11-2022

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 83.0446 83.0446 79.788 79.788
Singapore Dollar 60.6412 60.6412 57.9726 57.9726
Australian Dollar 56.2137 56.2137 53.74 53.74
Swiss Franc 88.0375 88.0375 84.1632 84.1632
Euro 86.2661 86.2661 82.4698 82.4698
British Pound 98.7074 98.7074 94.3636 94.3636
Canadian Dollar 62.6633 62.6633 59.9057 59.9057
Hong Kong Dollar 10.6408 10.6408 10.1725 10.1725
Japanese Yen 0.5945 0.5945 0.5683 0.5683
United Arab Emirates Dirham 22.665 22.665 21.6676 21.6676

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