Latest Kotak Bank Forex Rates
Foreign Exchange
Kotak Bank Forex Rates 02-08-2023
The widest range of forex solutions your business can getRely on us for ease of transactions and competitive forex rates. Now, transact in spot rates or book forward contracts, make dividend or royalty payments, or carry out capital account transactions like FDI or ECB payments with ease. What’s more, with the FX Live facility, you can book rates for your forex transactions online as well. FX Live is Kotak Mahindra Bank’s web-based foreign exchange trading platform that provides you with a user-friendly Internet-based application. Conveniently book rates for forex transactions, with different maturities, quickly, efficiently, and securely, today.
What is Forex Card ?
The Forex Card is a Chip-based pre-paid card introduced in association with Visa. It is the first card to offer you the option of loading up to 13 currencies in a single card in a convenient and secure way.
Latest Forex Rates Chake This Website : Kotak Bank Forex
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 the availability of currency notes at the Branch concerned.
Note: All Rates Displayed below are directly taking from the respective websites of the bank, For more exact details, Please contact Concern Bank.
Kotak Forex Rates
How To Calculate GST on foreign Currency Conversion – Calculate GST on Inward Remittance
| We Buy | ||||
|---|---|---|---|---|
| CURRENCY | Cash | Forex Card | Bills | Telegraphic Transfer |
| USD | 80.12 | 80.69 | 79.64 | 81.09 |
| CHF | 91.45 | 91.84 | 90 | 92.02 |
| CAD | 59.99 | 60.34 | 58.99 | 60.49 |
| GBP | 102.79 | 102.79 | 101.26 | 103.37 |
| AED | 21.69 | 21.83 | 20.5 | 21.49 |
| JPY | 54.8 | 55.29 | 53.97 | 55.89 |
| HKD | 9.95 | 10.03 | 9.65 | 10.12 |
| SEK | 7.07 | 7.21 | 7.04 | 7.4 |
| ZAR | 4.09 | 4.18 | 4.11 | 4.3 |
| SAR | 20.87 | 21.06 | 20.56 | 21.28 |
| AUD | 52.16 | 52.53 | 51.68 | 53 |
| NZD | 48.34 | 48.71 | 47.9 | 49.17 |
| DKK | 11.28 | 11.44 | 11.1 | 11.63 |
| SGD | 59.94 | 60.28 | 58.97 | 60.34 |
| EUR | 87.8 | 88.22 | 86.91 | 88.75 |
| CNH | 10.77 | 10.77 | 10.63 | 11.06 |
| BHD (No Txns) | 212.95 | 214 | 216.16 | 216.48 |
| OMR (No Txns) | 208.7 | 209.7 | 211.5 | 211.82 |
| We Sell | ||||
| CURRENCY | Telegraphic Transfer | Bills | Forex Card | Cash |
| USD | 84.05 | 85.5 | 84.45 | 85.02 |
| CHF | 96.13 | 98.15 | 96.31 | 96.7 |
| CAD | 63.55 | 65.05 | 63.7 | 64.05 |
| GBP | 107.68 | 109.79 | 108.26 | 108.26 |
| AED | 23.47 | 24.46 | 23.13 | 23.27 |
| JPY | 59.79 | 61.71 | 60.39 | 60.88 |
| HKD | 11.06 | 11.53 | 11.14 | 11.22 |
| SEK | 8.13 | 8.49 | 8.32 | 8.46 |
| ZAR | 4.69 | 4.88 | 4.81 | 4.9 |
| SAR | 22.73 | 23.45 | 22.95 | 23.14 |
| AUD | 55.69 | 57.01 | 56.16 | 56.53 |
| NZD | 51.78 | 53.05 | 52.24 | 52.61 |
| DKK | 12.7 | 13.22 | 12.89 | 13.05 |
| SGD | 63.14 | 64.51 | 63.2 | 63.54 |
| EUR | 92.51 | 94.35 | 93.04 | 93.46 |
| CNH | 11.92 | 12.35 | 12.21 | 12.21 |
| BHD (No Txns) | 219.25 | 219.91 | 222 | 223.15 |
| OMR (No Txns) | 214.82 | 215.46 | 217.25 | 218.35 |