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Sfm

757 views 11 replies

S .Ghosh

audit assistant

258 Points Posted on 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

Replies (11)

JAINENDRA JAIN

ACS/CA

1668 Points Posted on 10 March 2014

C. US$ 2,24,719.10 please let me know the answer.

Mayank

54 Points Posted on 10 March 2014

Its C i.e US$ 2,24,719.10 as quote is in dollar and as new york bank wants to fund their nostro account wid 10 million rs it have to sell dollar at 44.50 so its 100lacs/44.5 i.e $2,24,719.10

Mayank

54 Points Posted on 10 March 2014

Sry it want to fund Vostro account

jagdish hirapara

I am final year studeny

30 Points Posted on 10 March 2014

C. Us $ 2,24,719.10 coz bid rate is 44.50 is applicable when $ convert in rs.

S .Ghosh

audit assistant

258 Points Posted on 11 March 2014

The Answer is C

S .Ghosh

audit assistant

258 Points Posted on 11 March 2014

Please explain with simple logic why the rate we are taking 44.50...

hari

ACCOUNTS OFFICER

27 Points Posted on 11 March 2014

Interbank buying rate tower of two (bid/ask) refer Qtm no 9 RTP NOV 2013

ABHISHEK ADITYA

CA Final 1st group cleared

213 Points Posted on 13 March 2014

Answer is C-

$224,719.10

CA. N Kondaiah

Sr Audit Assisstant

83 Points Posted on 15 March 2014

newyark bank wants 10 million rupees ,

it has US dollers

selling dollers and buying rupees

how many us dollers to sell for 10 million rupees buying...

newyark bank buying ruppes ....relavant rate bid ruppe/doller

so answer for this question is C .....

CA. N Kondaiah

Sr Audit Assisstant

83 Points Posted on 15 March 2014

newyark bank wants 10 million rupees ,

it has US dollers

selling dollers and buying rupees

how many us dollers to sell for 10 million rupees buying...

newyark bank buying ruppes ....relavant rate bid ruppe/doller

so answer for this question is C .....

Guest

Originally posted by : naramala chinna
	newyark bank wants 10 million rupees , it has US dollers selling dollers and buying rupees how many us dollers to sell for 10 million rupees buying... newyark bank buying ruppes ....relavant rate bid ruppe/doller so answer for this question is C .....