CAIIB BFM EXCHANGE RATES AND FOREX BUSINESS UNSOLVED PROBLEMS 4 BY VISHAL MANTRI 9960560404

d.TT selling rate for issue of draft for JPY 100,000, if USD/INR is 47.940/9450 and USD/JPY is 99.50/55 . No margins. Give rupee amount to be charged. Money is going out via draft. Hence bank will sell. Selling rate required. Rates required are USD/INR = 47.9450 and USD/JPY = 99.55.What we require is JPY/INR. JPY/USD = 1 / 99.55 = 0.01004. Now, JPY/ USD x USD/INR = 0.01004 x 47.9450 JPY/INR = 0.4816. No margins. Amount to be debited = 0.4816 x 100000 = Rs. 48161.72

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