ASK BID Rate
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
27 March 2011
How to determine whether ask/Bid rate is applicable to a transaction??can u explain with regard to the question below??
u export goods worth yen 10000,@yen 3.5=Re.1 & covered yourself in forex market on the same day,wen exchange rates wer:$=yen 144-155.Local inter market rates for $ wer spot $ = Re.40.50-40.60.Calculate cover rate 7 ascertain the profit or loss in the transaction.
Please also explain the process..
u export goods worth yen 10000,@yen 3.5=Re.1 & covered yourself in forex market on the same day,wen exchange rates wer:$=yen 144-155.Local inter market rates for $ wer spot $ = Re.40.50-40.60.Calculate cover rate 7 ascertain the profit or loss in the transaction.
Please also explain the process..
CA. Anoop Gadia
(Expert)
07 August 2011
on Given data Forex rate is 3.8272 = Rs. 1
Bill amount in Rs. = 2857.15 but Forex (Bank)amount is = Rs. 2612.88 so loss = 244.27.
Bill amount in Rs. = 2857.15 but Forex (Bank)amount is = Rs. 2612.88 so loss = 244.27.
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