Sfm

S .Ghosh (audit assistant) (258 Points)

10 March 2014  

Dear Members .. place your answers with explanation ..

A New York bank wants to fund their account called ‘Vostro A/c’, with an Indian bank by ` 10 million. What dollar amount the New York bank would deposit in the Indian bank’s account called ‘Nostro A/c’, maintained in New York when inter bank rate is US$ 1 = ` 44.50 – 70?
A. US$ 2,23,713.64
B. US$ 2,24,216.37
C. US$ 2,24,719.10
D. US$ 2,23,965.00