Foreign Exchange Conversion Rates - TT Buying/ Selling

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Service
164 Points Posted on 01 August 2008

Dear All,

As a year end adjustment which conversion rates should be used for following items.

01. Open advances ( as on 31.03.2008 ) to foreign vendors

02. Open advances ( as on 31.03.2008 ) from foreign customers

Im confused with TT Buying / selling rates............ Can anybody elaborate me on the usage of these rates.

If our company paid advance of US$ 5,000=00 in the mid of march 2008 @ Rs. 42.50............ If I want to calculate exchange rate difference as on 31-march-2008 on that transaction which rate ( TT BUYING OR SELLING ) shouls be used ? For example if it Rs. 43.00 ( per USD ) ..... what will it denotes ? Exchange Rate Flactuation Gain or Loss ?

 Thanks and Best Regards

Amit

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On 01 August 2008 at 09:15 Report
Replies (12)
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Guest

Posted on 08 August 2008

Like to know TT Buying rates and selling rates as on 31.03.08 for US$, Euro and GBP

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On 08 August 2008 at 12:20
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Guest

Posted on 09 September 2008

rate of GBP to INR 31.3.2008

Originally posted by :Guest
" Like to know TT Buying rates and selling rates as on 31.03.08 for US$, Euro and GBP "


 

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On 09 September 2008 at 13:19
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Guest

Posted on 18 September 2008
Originally posted by :Amit
" Dear All,
As a year end adjustment which conversion rates should be used for following items.
01. Open advances ( as on 31.03.2008 ) to foreign vendors
02. Open advances ( as on 31.03.2008 ) from foreign customers
Im confused with TT Buying / selling rates............ Can anybody elaborate me on the usage of these rates.
If our company paid advance of US$ 5,000=00 in the mid of march 2008 @ Rs. 42.50............ If I want to calculate exchange rate difference as on 31-march-2008 on that transaction which rate ( TT BUYING OR SELLING ) shouls be used ? For example if it Rs. 43.00 ( per USD ) ..... what will it denotes ? Exchange Rate Flactuation Gain or Loss ?
 Thanks and Best Regards
Amit		 "


 

SBI TT Buying Rate for US Dollar on 31.03.2008

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On 18 September 2008 at 17:04
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Guest

Posted on 19 September 2008

forex currency rate on 31.03.2008

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On 19 September 2008 at 19:54
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Guest

Posted on 25 September 2008
Originally posted by :Guest
" rate of GBP to INR 31.3.2008



Originally posted by :Guest


"
Like to know TT Buying rates and selling rates as on 31.03.08 for US$, Euro and GBP
"




 		 "


 

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On 25 September 2008 at 11:30
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Guest

Posted on 25 September 2008
Originally posted by :Guest
" rate of GBP to INR 31.3.2008



Originally posted by :Guest


"
Like to know TT Buying rates and selling rates as on 31.03.08 for US$, Euro and GBP
"




 		 "


 

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On 25 September 2008 at 11:31
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Guest

Posted on 05 November 2008

 

 

Dear Sir,

Please tell me the TT Selling rate on dated 04/11/2008 for US$ and EURO.

Thanking you

 

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On 05 November 2008 at 10:21
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CA
76 Points Posted on 15 January 2009

Dear Amit,

 

Sorry for the late reply.

TT buying rate means the rate at which bank purchases the forign exchange, and TT selling rate is rate at which bank seels the forex to customers.

when we have to make the payment in forex we have to purchase the forex from bank and that rate is called TT selling rate. hence for expenses and liabilities use TT selling rate and for income and receivables use TT buying rate

CA Rashmi Gandhi

2 Reply
On 15 January 2009 at 16:01
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CE ( P)
22 Points Posted on 23 August 2011

EXchange rate of RUbbles to Rupees on 20.02.2003 and 05.08.2004

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On 23 August 2011 at 15:29
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PROPRITOR
22 Points Posted on 13 February 2012

PL.Quote todays i.e, 13/02/12. SBI TT SELLING PRICE,

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On 13 February 2012 at 13:51
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Sr. Assitant of Costing
22 Points Posted on 07 June 2012

In which side we can see the SBI TT Selling Rate USD

As Examp. 2-May =  53.01( SBI TT Selling rate)

   3-May =53.55 (SBI TT Selling rate)

4-May = 54.18 (SBI TT Selling rate)

 

Please Provide me the web site for seeing this SBI TT Selling Rates

 

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On 07 June 2012 at 15:47
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CA B.COM(Hons.)
217 Points Posted on 07 June 2012

@ anish

https://www.sbisyd.com.au/forex_rates.html

 

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On 07 June 2012 at 18:17

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