DBS Bank Forex Rates (1)

DBS Bank Forex Rates 30-01-2023

DBS Bank Forex Rates 30-01-2023

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 83.2614 83.2614 79.9963 79.9963
Singapore Dollar 63.5348 63.5348 60.7389 60.7389
Australian Dollar 59.204 59.204 56.5987 56.5987
Swiss Franc 90.5809 90.5809 86.5947 86.5947
Euro 90.7154 90.7154 86.7233 86.7233
British Pound 103.4381 103.4381 98.8861 98.8861
Canadian Dollar 62.6436 62.6436 59.8868 59.8868
Hong Kong Dollar 10.6578 10.6578 10.1888 10.1888
Japanese Yen 0.6419 0.6419 0.6136 0.6136
United Arab Emirates Dirham 22.7242 22.7242 21.7241 21.7241

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