Your importer wants to book for a payment of 90-day LC amount of EUR 25,000.00 to your bank. Calculate the exchange rate to deal with the import payment. How much does the importer have to pay to your bank? Please use the following information :
(i) Inter-bank exchange rate:
USD 1 = BDT 109.5000 - 110.5000
EUR 1 = USD 1.0750 - 1.0770
(ii) Your bank's overhand charge 0.0831%
(iii) Interest (or swap) cost 3.0% per annum
(iv) Assume 360 days in a year

Question

Your importer wants to book for a payment of 90-day LC amount of EUR 25,000.00 to your bank. Calculate the exchange rate to deal with the import payment. How much does the importer have to pay to your bank? Please use the following information :

(i) Inter-bank exchange rate:
USD 1 = BDT 109.5000 - 110.5000
EUR 1 = USD 1.0750 - 1.0770

(ii) Your bank's overhand charge 0.0831%
(iii) Interest (or swap) cost 3.0% per annum
(iv) Assume 360 days in a year

Satt Academy · Accepted Answer

Your importer wants to book for a payment of 90-day LC amount of EUR 25,000.00 to your bank. Calculate the exchange rate to deal with the import payment. How much does the importer have to pay to your bank? Please use the following information :

(i) Inter-bank exchange rate:
USD 1 = BDT 109.5000 - 110.5000
EUR 1 = USD 1.0750 - 1.0770

(ii) Your bank's overhand charge 0.0831%
(iii) Interest (or swap) cost 3.0% per annum
(iv) Assume 360 days in a year

Notification

Related Question

Related Question

Promotion