30 January 2015
TT buying rates are applied for purchase of foreign currency by banks. It is applied to a transaction that does not involve any delay in realization of foreign exchange by the bank. The rate is calculated by deducting from the inter-bank buying rate the exchange margin. Thus, all foreign inward remittances which are made payable in India are converted by applying this rate.
Telegraphic Transfer (T.T.) Buying - Rate at which a Foreign Inward Remittance received by Telegraphic Transfer is converted into rupees.
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