Forex chapter query

As per my calculation Importer has to pay Rs 129750 to bank to get 5000 SGD, let me know whether I m Correct or wrong 

vishvesh you changed the whole question, anyway do you want to know the rate calculation if yes then calcu;ation goes like this On jan28

1.  Rs/$=   45.85/45.90

2.  $/f=       1.7840/1.7850

3. SGD/f    =3.1575/3.1590

By cross rates  in 1& 2 we get

4 Rs/f    =  45.85*1.7840   /  45.90*1.7850    =  81.7964/81.9315

By Inverse rate in 3 & 4 we get

Rs/SGD    =   81.7964/3.1590   /    81.9315/3.1575  =   25.8931/25.9482

The above rate is a bank quote which symbolises that bank will sell 1 SGD for Rs 25.9482 and purchase 1 SGD for Rs 258931 and hence applicable rate is 25.9482, If you have other problem please specify clearly

Its not you who will be buying, you have to place your order with your bank, the bank will do transactions in international market if it doesnot have currency you require

Practically there will be bank quotes for every currency depending on demand supply situation. For exam purpose we will have to calculate the rate by using the standard quotes The International bank/ bank with foregn currency will quote both bid and ask rate for purchase and sale transaction. Here un this q foreign bank is quoting $ /f = 1.7840/1.7850 ie Indian bank will have to sell $ purchasing Pound @ 1.7850. Now the Indian bank has pound it will go to foreign bank quoting SGD/f = 3.1575/3.1590 now the Indian bank will sell f getting SGD rate will be 3.1575

Look you have to be clear which currency rate is given. I write every rate in terms of denominator ie 1 deno. = so much numera. so when I write SGD/f= 3.1575/3.1590 it is the rate of pound in terms of SGD( you can check every quote of mine)

Now in this Q the foreign bank is quoting SGD/f  = 3.1575/3.1590, the rate is of pound. The rate means the foreign bank will purchase 1 Pound for 3.1575 SGD and the foreign bank will sell 1 pound 3.1590 SGD Now Indian bank has pound and want to purchase SGD ie the bank is purchasing pound and the bank is purchasing pound at 3.1575

Sorry I get confused using bid and ask rate hence using buy and sell terms

By the way when is your attempt