Bank currency conversion rates,forex trading guide in tamil,currency trading for dummies pdf - Easy Way

24.01.2014 admin
The bank adopted negative interest rates last December in a bid to deter investors from depositing their money in the country's banks which in turn causes the Swiss franc to fall.
After the decision on Thursday, the Swiss franc was trading at 1.0954 against the single currency. The sharp rise in the currency and the pressure that put on Swiss exports, which were rendered more expensive, has put pressure on the economy, the Swiss government said on Thursday as it forecast "below-average" economic growth this year and next. February 10, 2012By Richard BarrowA very useful real-time and real-world Thai Baht exchange rate display application. Based on the market rates of different currencies, exchange rates are defined with respect to INR.
One country’s currency are not always accepted in another country except in European countries where countries like france, germany, italy and netherland accept EURO as one currency. In India, only authorized dealers can buy and sell foreign currencies.  So to buy or sell your foreign currencies, you need to either visit an authorized bank like HDFC, AXIS, KOTAK and SBI or to an authorized dealer. Foreign currency exchange rates are dependent on so many factors like supply and demand, foreign investments, import and export ratios, inflation and other economic factors.
Where ever you go for conversion of local currencies to foreign currency or forex to local currency, you need to know two rates that the authorized bank or dealer offers.

Buy rate means the rate which authorized dealer or bank offers to buy foreign currency in exchange of local currency. Sell rate is the rate at which authorized bank or dealer sells foreign currency in exchange of local currency. You will always find the bank’s or dealer’s sell rate as higher than buy rate, as the difference between both rates will be their profit.
Now a day’s private banks like ICICI are offering to buy forex online to get it delivered at customer’s doorstep. It shows up-to-date buying and selling rates of 34 foreign currencies with Thai Baht from 8 Thai major banks. We need to know currency exchange rates of other nations like USA, UK, Germany, France, Japan, China and Itally based on the country we are traveling to. In 2002, EURO became the single currency of 12 countries that have formed the European Union. For example, one party having X amount of currency say INR wants to have USD for his foreign travel to USA. If the requirement is for 1000 USD then you need to pay Rs 63600 to the authorized bank or dealer.

This means, if you have 100 USD now and you want to get it converted to INR or to your home county currency then the authorized bank or dealer will use buy rate to pay you in INR or in local currency.
For example, if you are heading to USA and require 1000 USD then authorized bank or dealer will use that day’s sell rate to get the foreign currency of 1000 USD converted to INR. Even one can use his net banking account to load foreign currency to prepaid travel card, which then can be used in foreign countries.
For instance, if potatoes are selling at the price of 5 per one INR then we can take INR to potato exchange rate as 5.
To get USD, he will offer INR to either an authorized bank or foreign exchange dealer to buy at the other party’s buying rate to get equal value of USD.
On the right, you can see that dollars have been chosen and the different rates at all the banks are listed.

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