DBS Bank Forex Rates (1)

DBS Bank Forex Rates 23-08-2022

Daily Forex Rates DBS Bank

DBS Bank Forex Rates 23-08-2022

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 81.4648 81.4648 78.2702 78.2702
Singapore Dollar 58.4564 58.4564 55.884 55.884
Australian Dollar 56.3294 56.3294 53.8506 53.8506
Swiss Franc 84.7364 84.7364 81.0074 81.0074
Euro 81.2109 81.2109 77.6371 77.6371
British Pound 96.1645 96.1645 91.9326 91.9326
Canadian Dollar 62.6911 62.6911 59.9322 59.9322
Hong Kong Dollar 10.4079 10.4079 9.9499 9.9499
Japanese Yen 0.5951 0.5951 0.5689 0.5689
United Arab Emirates Dirham 22.2339 22.2339 21.2554 21.2554

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