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In July 23

SBI Bank Forex Rate 07-07-23

SBI Forex Update & Old Data- Indian Rupee (INR) is commonly traded against major international currencies such as the US Dollar (USD), Euro (EUR), British Pound (GBP), Thai Baht (THB), Korean Won (KRW) and Japanese Yen (JPY).

SBI-Forex-Rate sbiforexrate.in

Foreign Exchange (forex or FX) is the trading of one currency for another. For example, one can swap the U.S. dollar for the INR.

Introduction:

A foreign exchange rate is the price of the domestic currency stated in terms of different currency. Forex exchange, also known as Forex trading or currency trading, plays a vital role in global economies. In other words, a foreign exchange rate compares one currency with another currency to show their relative values. Forex exchange refers to the buying and selling of currencies on the foreign exchange market. Since standardized currencies around the world float in value with supply, demand and consumer confidence, its values change relatively to each over time. For example, one US dollar in 2020 was worth about 0.68 Euros. In 2023, one US dollar is worth 0.75 Euros. This means the dollar has increased its value over three-year span, but the Euro is still 25% more valuable.

The forex market is the biggest, highly liquid market in the world, with trillions of dollars changing every day. There is no centralized location, rather ‘the forex market is an electronic network of banks, brokers, institutions, and individual traders (mostly trading through brokers or banks). Participants in the Forex market include individuals, financial institutions, corporations, and governments.

Forex Trading in India:

Regulatory Framework Forex trading in India is regulated by the Reserve Bank of India (RBI) and the Securities and Exchange Board of India (SEBI). The RBI oversees currency exchange and sets guidelines to maintain stability. SEBI regulates Forex trading through authorized brokers and facilitates investor protection.

Currency Pairs in India:

The Indian Rupee (INR) is commonly traded against major international currencies such as the US Dollar (USD), Euro (EUR), British Pound (GBP), and Japanese Yen (JPY). Currency pairs involving the INR offer diverse trading opportunities for market participants.

Comprehensive understanding of market Dynamics:

Understanding Market Dynamics Successful Forex trading requires a comprehensive understanding of market dynamics, including factors influencing currency exchange rates, global economic indicators, geopolitical events, and central bank policies. Continuous learning and staying informed are crucial for making informed trading decisions.

Legal and Tax Implications Complying with legal and tax requirements is vital in Forex trading. Traders must adhere to regulatory guidelines, report their earnings accurately, and fulfill tax obligations as per Indian laws. Seeking professional advice can ensure compliance and mitigate potential legal and financial risks.

Explanation of Terms:

T.T. Buying:

Rate at which a Foreign Inward Remittance received by Telegraphic Transfer, Foreign DD or Foreign Cheque is converted into Rupees. In respect of Foreign DDs & Cheques, interest/charges at the ruling rate will be deducted towards transit period/collection as per FEDAI guidelines.

T.C. Buying:

Rate at which Foreign Currency Traveller’s Cheques are bought from the customer. Currency Buying – Rate at which Foreign Currency Note is bought from the customer.

T.T. Selling:

Rate applicable when a customer sends an outward remittance through Telegraphic Transfer or through Issuance of Demand Draft.

T.C. Selling:

Rate applicable when a customer buys Foreign Currency Traveller’s Cheques from the Bank. The same will be arranged through TC issuers.

Currency Selling:

Rate applicable when a customer buys Foreign Currency notes from the Bank. This is however, subject to availability of currency notes at the Branch concerned.

State Bank Of India

Latest Forex Rates In India

Latest Forex Rates Check Here: Sbi

  CARD RATES FOR TRANSACTIONS BELOW Rs. 10 LACS 
CURRENCY TT BUYTT SELLBILL BUYBILL SELLFOREX TRAVEL CARD BUYFOREX TRAVEL CARD SELLCN BUYCN SELLPC BUY
UNITED STATES DOLLARUSD/INR81.9083.4081.8383.5781.8383.5780.8084.0081.77
EUROEUR/INR88.5291.4788.4691.6688.4691.6687.2592.2088.39
GREAT BRITAIN POUNDGBP/INR103.63106.86103.56107.08103.56107.08102.15107.65103.47
JAPANESE YENJPY/INR56.6058.2756.5658.3956.5658.3953.9060.4556.52
SWISS FRANCCHF/INR90.6493.8990.5794.080.000.0086.3097.4090.50
AUSTRALIAN DOLLARAUD/INR53.7656.0253.7256.1353.7256.1351.7058.1553.68
NEW ZEALAND DOLLARNZD/INR50.0852.3050.0452.410.000.0047.7054.2550.00
CANADIAN DOLLARCAD/INR60.9162.7960.8662.9260.8662.9257.9565.1560.82
SINGAPORE DOLLARSGD/INR60.1762.0060.1262.1360.1262.1357.3064.3060.08
HONG KONG DOLLARHKD/INR10.4010.7310.3910.750.000.009.9011.1510.37
DANISH KRONERDKK/INR11.9012.2711.8912.290.000.0011.3012.7511.88
NORWEGIAN KRONERNOK/INR7.577.797.567.800.000.007.158.107.54
SWEDISH KRONASEK/INR7.457.667.447.680.000.007.057.957.42
BAHRAINI DINARBHD/INR212.95225.81212.79226.270.000.00206.80229.65212.63
KUWAITI DINARKWD/INR261.22277.06261.03277.620.000.00253.70281.80260.83
UAE DIRHAMAED/INR21.8623.1821.8423.2321.8423.2321.2523.5521.83
SAUDI ARABIAN RIYALSAR/INR21.4022.6921.3822.7421.3822.7420.8023.1021.37
SOUTH AFRICAN RANDZAR/INR4.204.464.204.470.000.004.054.554.18
CHINESE YUANCNY/INR0.000.0011.2611.580.000.000.000.000.00
OMANI RIYALOMR/INR208.53221.11208.38221.570.000.00202.55224.900.00
QATARI RIALQAR/INR22.0223.3822.0023.420.000.0021.4023.8021.99
MALAYSIAN RINGGITMYR/INR0.000.000.000.000.000.0016.5518.700.00
THAI BAHTTHB/INR0.000.000.000.000.000.00220.75246.050.00
PAKISTANI RUPEEPKR/INR0.000.000.000.000.000.000.240.300.00
BANGLADESHI TAKABDT/INR0.000.000.000.000.000.000.640.770.00
TURKISH LIRATRY/INR0.000.003.063.260.000.000.000.000.00
KOREAN WONKRW/INR0.000.006.146.530.000.000.000.000.00
CARD RATES FOR TRANSACTIONS BETWEEN Rs. 10 LACS AND Rs. 20 LACS.(To be used as reference rates)
CURRENCYTT BUYTT SELLBILL BUYBILL SELLFOREX TRAVEL CARD BUYFOREX TRAVEL CARD SELLCN BUYCN SELLPC BUY
UNITED STATES DOLLARUSD/INR82.2583.1082.1883.2782.1883.2781.2083.7082.12
EUROEUR/INR88.9091.1488.8491.3388.8491.3387.6091.8588.77
GREAT BRITAIN POUNDGBP/INR104.07106.48104.00106.69104.00106.69102.60107.25103.91
JAPANESE YENJPY/INR56.8358.0456.7958.1656.7958.1654.1060.2556.74
SWISS FRANCCHF/INR90.9793.5590.9193.740.000.0086.6597.0590.83
AUSTRALIAN DOLLARAUD/INR53.9955.8253.9555.9353.9555.9351.9057.9053.91
NEW ZEALAND DOLLARNZD/INR50.2952.1250.2552.220.000.0047.9054.1050.21
CANADIAN DOLLARCAD/INR61.1762.5761.1262.6961.1262.6958.2564.9561.08
SINGAPORE DOLLARSGD/INR60.4061.7860.3661.9060.3661.9057.5064.1060.31
HONG KONG DOLLARHKD/INR10.4510.6910.4310.720.000.009.9011.1010.42
DANISH KRONERDKK/INR11.9412.2211.9312.250.000.0011.3512.7011.92
NORWEGIAN KRONERNOK/INR7.607.757.597.770.000.007.208.057.57
SWEDISH KRONASEK/INR7.487.647.477.650.000.007.107.907.45
BAHRAINI DINARBHD/INR213.86224.99213.70225.460.000.00207.85228.85213.54
KUWAITI DINARKWD/INR262.33276.05262.14276.610.000.00254.95280.75261.94
UAE DIRHAMAED/INR21.9523.1021.9323.1421.9323.1421.3523.5021.92
SAUDI ARABIAN RIYALSAR/INR21.4922.6121.4822.6621.4822.6620.9023.0021.46
SOUTH AFRICAN RANDZAR/INR4.224.454.214.450.000.004.054.554.20
CHINESE YUANCNY/INR0.000.0011.3011.540.000.000.000.000.00
OMANI RIYALOMR/INR209.42220.32209.27220.770.000.00203.50224.100.00
QATARI RIALQAR/INR22.1123.2922.0923.340.000.0021.5023.7022.08
MALAYSIAN RINGGITMYR/INR0.000.000.000.000.000.0016.6018.650.00
THAI BAHTTHB/INR0.000.000.000.000.000.00221.65244.800.00
PAKISTANI RUPEEPKR/INR0.000.000.000.000.000.000.240.290.00
BANGLADESHI TAKABDT/INR0.000.000.000.000.000.000.640.760.00
TURKISH LIRATRY/INR0.000.003.083.250.000.000.000.000.00
KOREAN WONKRW/INR0.000.006.176.500.000.000.000.000.00

Note:  1 JAPANESE YEN (JPY) ,THAI BAHT (THB)  & KOREAN WON (KRW) are quoted in terms of 100 fc units.

  • Above card rates are for foreign currency conversion to INR
  • Card rates mentioned above are indicative and are subject to change based on market volatility. The final rates applicable will be the card rates prevailing at the time of debit/credit to customer account.
  • The rates of Korean Won (KRW) and Turkish Lira(TRY) are for publication purpose only

Note: All Rates Displayed below are directly taking from respective websites of bank. For more exact details, Please contact Concern Bank.

In the context of forex exchange rates in India, there are several terminologies used. Here are some key terms you should be familiar with:

  1. Base Currency: The base currency is the currency against which exchange rates are quoted. In India, the Indian Rupee (INR) is often the base currency for forex exchange rates.
  2. Quote Currency: The quote currency is the currency in which the exchange rate is expressed. For example, when quoting the exchange rate of INR to USD, USD would be the quote currency.
  3. Bid Price: The bid price represents the price at which a market participant is willing to buy the base currency. It is the price at which you can sell the quote currency in exchange for the base currency.
  4. Ask Price: The ask price is the price at which a market participant is willing to sell the base currency. It is the price at which you can buy the quote currency in exchange for the base currency.
  5. Spread: The spread refers to the difference between the bid and ask prices. It represents the transaction cost or the profit margin for the currency exchange service provider.
  6. Exchange Rate: The exchange rate indicates the value of one currency in relation to another. It represents the rate at which one currency can be exchanged for another.
  7. Interbank Rate: Interbank rates are the rates at which banks trade currencies with each other. They serve as benchmarks for forex exchange rates and are typically more favorable than retail rates.
  8. Spot Rate: The spot rate refers to the current exchange rate for immediate settlement or delivery of currencies. It is the prevailing rate for on-the-spot transactions.
  9. Forward Rate: A forward rate is an exchange rate agreed upon today but with a future delivery or settlement date. It allows parties to lock in an exchange rate for a future transaction, protecting against currency fluctuations.
  10. Cross Currency Pair: A cross currency pair involves two currencies other than the domestic currency (INR) in India. For example, trading USD to EUR or GBP to JPY would be considered cross currency pairs.

Understanding these terminologies will help you navigate the forex exchange market in India and make informed decisions when dealing with currency transactions.

Conclusion:

Forex exchange in India offers individuals and businesses a gateway to participate in the global currency market. With the right knowledge, understanding market dynamics, and adhering to regulatory frameworks, traders can unlock opportunities and navigate the intricacies of Forex trading. By embracing this dynamic field, participants can harness the potential for financial growth and contribute to India’s thriving economy.

In 2022

RBI Bank Forex Rate Latest Data From 2010

RBI Forex Update & Old Data- Indian Rupee (INR) is commonly traded against major international currencies such as the US Dollar (USD), Euro (EUR), British Pound (GBP), Japanese Yen (JPY).

rbi Forex Data

Foreign Exchange (forex or FX) is the trading of one currency for another. For example, one can swap the U.S. dollar for the INR.

Introduction:

A foreign exchange rate is the price of the domestic currency stated in terms of different currency. Forex exchange, also known as Forex trading or currency trading, plays a vital role in global economies. In other words, a foreign exchange rate compares one currency with another currency to show their relative values. Forex exchange refers to the buying and selling of currencies on the foreign exchange market. Since standardized currencies around the world float in value with supply, demand and consumer confidence, its values change relatively to each over time. For example, one US dollar in 2020 was worth about 0.68 Euros. In 2023, one US dollar is worth 0.75 Euros. This means the dollar has increased its value over three-year span, but the Euro is still 25% more valuable.

The forex market is the biggest, highly liquid market in the world, with trillions of dollars changing every day. There is no centralized location, rather ‘the forex market is an electronic network of banks, brokers, institutions, and individual traders (mostly trading through brokers or banks). Participants in the Forex market include individuals, financial institutions, corporations, and governments.

Reserve Bank Of India

Type Any Date in Format (dd/mm/yyyy) in Search Bar

ļ¶ Get data from January 2010 to Now, RBI Forex Update & Old Data in International currencies such as US Dollar (USD), Euro (EUR), British Pound (GBP), and Yen.
ļ¶ Some Data is not available on RBI Official Site.
DateUSDGBPEUROYEN
11/11/202484.3848108.981390.425654.9800
08/11/202484.3751109.397490.924355.1900
07/11/202484.3562109.093990.656554.7600
06/11/202484.2366108.282290.247254.6100
05/11/202484.1225109.029591.513955.2200
04/11/202484.1055109.282891.656555.3600
31/10/202484.0886108.950891.250555.0300
30/10/202484.0847109.377990.990354.8300
29/10/202484.0783109.004290.879154.9500
28/10/202484.0775108.923590.746054.8300
25/10/202484.0771108.983590.955755.3400
24/10/202484.0738108.728290.701155.2400
23/10/202484.0750109.201790.811855.2400
22/10/202484.0718109.379791.003855.7800
21/10/202484.0744109.611291.269556.2500
18/10/202484.0710109.801891.171656.0600
17/10/202484.0304109.114691.207256.1700
16/10/202484.0696109.284391.462156.3300
15/10/202484.0736109.725691.592056.2800
14/10/202484.0725109.877191.881256.3400
11/10/202484.0586109.691491.934356.4800
10/10/202483.9685109.790591.866656.2900
09/10/202483.9620109.857692.062756.5500
08/10/202483.9399109.865092.205756.7400
07/10/202483.9719110.153292.098756.5600
04/10/202483.9660110.291092.621857.4800
03/10/202483.9492110.596992.607757.2400
01/10/202483.8149112.058893.314558.0400
30/09/202483.7888112.159793.534059.1100
27/09/202483.6688112.049893.460858.2300
26/09/202483.7009111.698393.321557.8400
25/09/202483.5471111.981093.487058.2400
24/09/202483.6319111.534892.885557.9600
23/09/202483.5128111.205693.206457.9400
20/09/202483.4922111.234493.285358.8300
19/09/202483.6172110.776693.144058.7200
17/09/202483.8302110.757693.299159.6300
16/09/202483.8939110.406193.150259.8800
13/09/202483.9180110.223592.953759.4900
12/09/202483.9843109.614192.549058.8800
11/09/202483.9508109.847492.705859.3800
10/09/202483.9750109.896492.709558.6000
09/09/202483.9425110.085092.903658.7400
06/09/202483.9308110.627593.309258.9500
05/09/202483.9825110.415793.097458.6600
04/09/202483.9682110.073992.792157.8200
03/09/202483.9525110.086992.806757.4400
02/09/202483.8759110.190692.767957.3500
30/08/202483.8709110.496692.908357.8600
29/08/202483.8899110.911493.389658.0300
28/08/202483.9671111.050493.592058.1100
27/08/202483.9424110.816393.751358.0000
26/08/202483.8504110.666993.769358.2500
23/08/202483.8746110.069893.336257.6800
22/08/202483.9569109.929893.588457.7900
21/08/202483.9183109.256693.289257.5100
20/08/202483.7804108.882192.822556.9700
19/08/202483.9201108.798592.690957.7000
16/08/202483.9561108.147892.218556.3700
14/08/202483.9366107.687992.272657.0400
13/08/202483.9696107.530991.822456.8000
12/08/202483.9691107.265591.691557.0200
09/08/202483.9000107.121891.669757.0200
08/08/202483.9584106.671991.832057.4000
07/08/202483.9519106.659291.621257.2400
06/08/202483.9078107.097791.830457.5200
05/08/202483.8390106.711491.438758.8200
02/08/202483.7375106.648690.466656.1500
01/08/202483.7251107.460190.610755.8700
31/07/202483.7440107.546390.622254.7800
30/07/202483.7328107.591190.605654.0600
29/07/202483.7371107.742390.916254.5900
26/07/202483.7272107.677690.859654.4800
25/07/202483.7075107.842090.703854.8200
24/07/202483.7028107.847790.774654.1400
23/07/202483.6625108.074191.051653.4500
22/07/202483.6654108.032791.058153.4100
19/07/202483.6405108.166791.065553.0100
18/07/202483.6393108.742891.438453.5300
16/07/202483.5781108.277790.976452.7100
15/07/202483.5658108.360390.993152.8500
12/07/202483.5385107.827090.768552.4900
11/07/202483.5342107.442290.527751.6500
10/07/202483.4923106.801190.326451.7200
09/07/202483.4843106.922290.392951.9000
08/07/202483.4755106.899890.300551.9700
05/07/202483.5000106.650190.370951.9700
04/07/202483.5016106.454590.109451.7300
03/07/202483.5337105.962589.721951.6200
02/07/202483.5150105.545789.641151.6500
01/07/202483.4043105.803489.846451.8100
28/06/202483.4534105.464089.249051.8600
27/06/202483.4896105.510389.288252.0500
26/06/202483.5409105.961089.406052.2700
25/06/202483.4275105.867389.570052.3300
24/06/202483.5138105.652289.401052.2800
21/06/202483.5860105.808789.536252.5800
20/06/202483.5265106.121089.642352.8100
19/06/202483.4251106.157389.549652.8700
18/06/202483.4817105.964489.535852.8800
14/06/202483.5458106.369489.550552.8900
13/06/202483.5469106.772490.274153.1700
12/06/202483.5645106.513089.790153.1500
11/06/202483.5054106.264589.932553.0900
10/06/202483.4919106.136689.778853.1400
07/06/202483.4257106.663190.843953.7200
06/06/202483.4649106.779490.807053.4700
05/06/202483.3898106.456090.674753.5300
04/06/202483.5021106.862191.019553.5200
03/06/202483.0659105.797790.154252.8100
31/05/202483.2988105.928390.121053.0800
30/05/202483.4231105.867390.050853.1800
29/05/202483.3270106.320390.422653.0400
28/05/202483.1644106.225390.446853.0200
27/05/202483.0838105.827790.113252.9800
24/05/202483.1219105.503989.893052.9200
22/05/202483.2301106.106290.387953.2100
21/05/202483.3614106.000790.550553.3500
17/05/202483.4815105.722690.683253.6300
16/05/202483.5011105.861090.834254.1500
15/05/202483.5092105.158790.392653.4100
14/05/202483.5201104.876790.082553.3700
13/05/202483.5234104.643189.979253.6000
10/05/202483.4946104.692890.013353.6600
09/05/202483.4976104.208989.667553.6000
08/05/202483.5147104.317789.754953.8100
07/05/202483.5015104.719889.828754.0600
06/05/202483.4725104.783689.830954.2800
03/05/202483.3795104.617489.500754.4500
02/05/202483.4526104.585089.481853.7300
30/04/202483.5187104.641189.340553.2500
29/04/202483.4392104.556089.460753.1300
26/04/202483.3395104.256089.428853.4300
25/04/202483.3758104.182089.407253.5700
24/04/202483.2987103.688089.112453.7700
23/04/202483.3765102.877288.738753.8700
22/04/202483.4113103.297788.969853.9000
19/04/202483.5214103.795988.887454.0900
18/04/202483.5170104.247689.273654.1800
16/04/202483.4982103.671988.559354.0400
15/04/202483.4422104.069788.907154.2500
12/04/202483.3931104.424389.126154.4200
10/04/202483.2253105.518690.294554.8300
08/04/202483.3176105.232490.253554.8800
05/04/202483.4073105.236790.306855.1500
04/04/202483.4475105.601190.492755.0200
03/04/202483.4204104.873389.849955.0100
02/04/202483.3585104.580589.447054.9400
28/03/202483.3739105.293590.217855.0900
27/03/202483.3255105.132990.224354.9200
26/03/202483.3559105.453590.433455.0800
22/03/202483.3546105.248590.262555.0500
21/03/202483.1308106.361490.911855.0600
20/03/202483.1022105.698890.307754.8300
19/03/202482.9401105.413590.132155.1700
18/03/202482.9078105.584790.275555.5900
15/03/202482.8919105.587790.167655.9000
14/03/202482.8709106.022890.662456.0300
13/03/202482.9027106.061890.593356.1900
12/03/202482.7450106.058190.505456.1400
11/03/202482.6770106.238390.444256.2500
07/03/202482.7785105.408590.233055.7000
06/03/202482.9078105.334990.011355.3100
05/03/202482.9271105.135589.968755.0900
04/03/202482.8954104.981589.902855.1300
01/03/202482.8702104.647489.576655.1100
29/02/202482.9246105.031789.862155.3600
28/02/202482.9155104.982689.784255.0500
27/02/202482.8915105.102089.939555.0700
26/02/202482.8856104.995189.719255.1000
23/02/202482.8865104.953189.711455.0300
22/02/202482.9240104.882889.869255.2000
21/02/202482.8851104.678489.611555.2500
20/02/202482.9704104.421689.358055.1700
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07/03/201145.130073.358863.060054.8400
04/03/201144.990073.239262.800054.6400
03/03/201144.960073.374762.330054.9300
01/03/201145.120073.430562.320054.9100
28/02/201145.180072.787262.150055.3200
25/02/201145.370073.249962.680055.3400
24/02/201145.370073.542562.390055.2800
23/02/201145.200073.167561.880054.6800
22/02/201145.200073.070361.410054.2500
21/02/201145.110073.251961.700054.2400
18/02/201145.180073.040261.430054.2500
17/02/201145.380073.084561.600054.2800
15/02/201145.450072.908661.430054.4300
14/02/201145.500073.068561.630054.6900
11/02/201145.760073.389962.020054.7900
10/02/201145.580073.365662.410055.1900
09/02/201145.330072.890661.860055.0300
08/02/201145.390073.309461.840055.1700
07/02/201145.590073.584562.040055.4400
04/02/201145.640073.669862.240055.9100
03/02/201145.630073.893262.960055.9000
02/02/201145.630073.726763.160055.9900
01/02/201145.810073.589262.840055.9500
31/01/201145.950072.952562.540056.0200
28/01/201145.740072.731262.730055.3400
27/01/201145.570072.501962.460055.4400
25/01/201145.530072.779762.140055.2400
24/01/201145.580072.791362.010055.0800
21/01/201145.700072.781861.650055.1400
20/01/201145.580072.732061.450055.5300
19/01/201145.380072.712461.150055.1500
18/01/201145.530072.556660.620055.1800
17/01/201145.590072.312660.730054.9900
14/01/201145.300071.732660.400054.8400
13/01/201145.130071.054959.100054.3300
12/01/201145.160070.643858.680054.3400
11/01/201145.320070.542858.700054.5700
10/01/201145.440070.611558.630054.6800
07/01/201145.370070.037758.930054.3400
06/01/201145.310070.264559.560054.4800
05/01/201145.200070.272459.990055.0900
04/01/201144.840069.324959.790054.5600
03/01/201144.670069.448459.370054.9700
31/12/201044.810069.285259.810055.0600
30/12/201044.900069.693859.470055.1600
29/12/201045.120069.428459.220054.8700
28/12/201045.170069.887059.750054.8000
27/12/201045.150069.707159.320054.5500
24/12/201045.230069.925659.340054.5000
23/12/201045.020069.420859.120054.1600
22/12/201045.130069.901959.320053.8900
21/12/201045.260070.388459.610054.0800
20/12/201045.380070.425259.770054.1000
16/12/201045.390070.663260.050053.8900
15/12/201045.320071.236260.270054.0400
14/12/201045.010071.415160.310053.9400
13/12/201045.250071.418159.690053.7900
10/12/201045.220071.411459.990054.0300
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08/12/201045.120070.809159.630053.7300
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06/12/201044.850070.616359.920054.1300
03/12/201045.090070.471259.630053.9400
02/12/201045.370070.877059.520053.9400
01/12/201045.700071.186959.530054.7500
30/11/201046.040071.610660.360054.7700
29/11/201045.810071.518660.660054.5000
26/11/201045.740071.887360.840054.5400
25/11/201045.640071.912760.810054.6800
24/11/201045.660072.177061.120054.9000
23/11/201045.610072.551861.800054.5000
22/11/201045.290072.543362.270054.2800
19/11/201045.260072.601661.780054.2500
18/11/201045.450072.395061.800054.6400
16/11/201045.220072.544261.550054.5200
15/11/201045.140072.738661.740054.4300
12/11/201044.640071.629360.730054.2000
11/11/201044.250071.437260.960053.8100
10/11/201044.390071.032961.110054.2500
09/11/201044.400071.590661.580054.8900
08/11/201044.260071.422461.810054.4900
04/11/201044.320071.461662.590054.8400
03/11/201044.360071.098062.110055.0000
02/11/201044.430071.372461.920055.1600
01/11/201044.420071.405262.160055.2200
29/10/201044.540070.925561.810055.2100
28/10/201044.490070.401061.560054.6000
27/10/201044.520070.466361.470054.5000
26/10/201044.430070.101762.070055.0300
25/10/201044.360069.922562.330054.9400
22/10/201044.460069.984562.070054.8400
21/10/201044.360070.184261.950054.7800
20/10/201044.290069.672661.050054.4700
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18/10/201044.260070.400061.450054.5200
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14/10/201044.180070.650462.250054.4100
13/10/201044.500070.496962.090054.3700
12/10/201044.740070.989061.810054.6800
11/10/201044.300070.603161.930054.0500
08/10/201044.380070.371161.800053.8700
07/10/201044.280070.321161.700053.4600
06/10/201044.300070.459261.340053.2600
05/10/201044.720070.729261.340053.4300
04/10/201044.370070.089161.130053.2500
01/10/201044.680070.207960.960053.5300
29/09/201044.920071.142161.000053.7000
28/09/201045.130071.309960.660053.5900
27/09/201045.040071.296160.620053.4600
24/09/201045.540071.397660.750053.7900
23/09/201045.590071.423661.100053.9000
22/09/201045.530071.432060.580053.6000
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20/09/201045.610071.409359.630053.2300
17/09/201045.970072.166060.340053.6500
16/09/201046.300072.193360.140054.2500
15/09/201046.370071.838760.170054.6500
14/09/201046.370071.229059.630055.4700
13/09/201046.310071.674059.390055.2300
09/09/201046.560071.837459.110055.6500
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07/09/201046.710071.781659.760055.5900
06/09/201046.480071.958060.010055.1200
03/09/201046.670071.986159.820055.4000
02/09/201046.780072.141859.940055.5700
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31/08/201047.080072.635059.500055.9600
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26/08/201046.810072.857459.450055.2500
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18/08/201046.640072.417959.880054.5500
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13/08/201046.580072.790660.050054.1000
12/08/201046.940073.670060.540055.0000
11/08/201046.540073.426260.780054.5400
10/08/201046.300073.158660.930053.9300
09/08/201046.070073.659061.260053.8500
06/08/201046.020073.208660.700053.4200
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04/08/201046.220073.686261.070054.0600
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02/08/201046.190072.737760.420053.3400
30/07/201046.460072.535760.730053.7000
29/07/201046.630072.868760.740053.3900
28/07/201046.570072.667860.620053.0100
27/07/201046.760072.571560.800053.7500
26/07/201046.860072.520560.640053.5900
23/07/201047.000071.879560.530053.9700
22/07/201047.330071.754660.380054.7800
21/07/201047.250072.320960.980054.2000
20/07/201047.100072.048961.290054.1400
19/07/201047.080071.933560.620054.3600
16/07/201046.800072.081460.370053.6600
15/07/201046.740071.308959.470053.0600
14/07/201046.630070.921959.290052.4300
13/07/201046.930070.308258.900052.9500
12/07/201046.730069.940858.800052.6300
09/07/201046.750070.922159.360052.8100
08/07/201046.850071.366659.320053.0500
07/07/201047.080071.208559.270053.9400
06/07/201046.800071.007358.770053.3300
05/07/201046.690070.924458.570053.1000
02/07/201046.680070.787958.290053.0300
01/07/201046.680069.581256.990052.8300
30/06/201046.600070.072456.940052.6100
29/06/201046.520070.082456.930052.3700
28/06/201046.160069.369257.030051.6400
25/06/201046.540069.633157.390051.9900
24/06/201046.240069.262957.050051.4800
23/06/201046.310068.687056.850051.2300
22/06/201046.040067.863056.670050.7300
21/06/201045.640068.060756.830050.2900
18/06/201046.140068.467157.180050.8200
17/06/201046.500068.364357.090050.9200
16/06/201046.350068.674557.160050.6100
15/06/201046.730068.679156.920051.2500
14/06/201046.570068.234456.810050.6600
11/06/201046.820068.972956.660051.1400
10/06/201046.980068.466356.580051.6100
09/06/201046.980067.902556.200051.3800
08/06/201046.950068.051756.130051.1200
07/06/201047.280068.236956.380051.8700
04/06/201046.670068.336556.850050.3600
03/06/201046.520068.530957.220050.3600
02/06/201047.190069.482657.590051.6100
01/06/201046.690067.737957.260051.2100
31/05/201046.450067.329357.170050.7800
28/05/201046.540067.780957.380051.0500
26/05/201047.570068.384358.430052.7100
25/05/201047.400067.962158.190052.8200
24/05/201046.670067.643558.380051.6500
21/05/201046.950067.664359.030052.0600
20/05/201046.750066.999857.690051.3600
19/05/201046.000065.874356.070050.0000
18/05/201045.550065.926856.370049.1600
17/05/201045.720065.647156.190049.6600
14/05/201045.100065.685956.570048.5900
13/05/201044.990066.909156.980048.1800
12/05/201045.330067.521357.280048.9300
11/05/201045.140066.680857.280048.8100
10/05/201044.960066.860058.340048.3600
07/05/201045.580067.050557.810049.5200
06/05/201045.400068.433757.910048.4000
05/05/201044.870068.036458.270047.3400
04/05/201044.560067.887258.720046.9300
03/05/201044.560067.947359.000047.3800
30/04/201044.440068.313258.940047.2500
29/04/201044.570067.670658.880047.4200
28/04/201044.600068.079758.900047.7800
27/04/201044.450068.639759.430047.3800
26/04/201044.330068.399059.190047.0200
23/04/201044.540068.264258.910047.6700
22/04/201044.450068.721959.570047.7500
21/04/201044.410068.364859.670047.6000
20/04/201044.610068.233260.010048.1700
19/04/201044.600068.030660.050048.4900
16/04/201044.490068.545760.160048.0300
15/04/201044.380068.817860.530047.5700
13/04/201044.620068.605560.630048.0600
12/04/201044.350067.500860.500047.5700
09/04/201044.350067.844459.300047.3500
08/04/201044.690067.850659.490047.9500
07/04/201044.420067.756059.390047.2800
06/04/201044.450067.659659.670047.2800
05/04/201044.730068.168560.290047.3000
31/03/201045.140068.032860.560048.4400
30/03/201044.940067.636960.760048.5800
29/03/201045.080067.405960.610048.6800
26/03/201045.340067.429660.520049.0100
25/03/201045.630067.890660.710049.5700
23/03/201045.560068.677161.600050.4300
22/03/201045.490068.028061.450050.2800
19/03/201045.480069.093261.890050.2800
18/03/201045.490069.577062.220050.4600
17/03/201045.410069.098162.550050.1300
15/03/201045.580069.099362.590050.3100
12/03/201045.450068.488662.270050.1400
11/03/201045.470068.089162.020050.3100
10/03/201045.410068.006061.750050.4200
09/03/201045.540068.423962.010050.5900
08/03/201045.430068.842462.120050.2400
05/03/201045.780068.834862.150051.2500
04/03/201045.820068.986662.610051.9000
03/03/201045.900068.941862.580051.6500
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26/02/201046.230070.657962.810051.7300
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24/02/201046.250071.472462.630051.2700
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22/02/201046.160071.421162.920050.3400
19/02/201046.470071.503462.560050.5500
18/02/201046.220072.364362.760050.8600
17/02/201046.020072.601263.360050.9400
16/02/201046.180072.484162.980051.4100
15/02/201046.380072.570863.000051.4600
11/02/201046.460072.654164.020051.6600
10/02/201046.560072.987564.070051.9400
09/02/201046.680072.939863.940052.2000
08/02/201046.810072.901963.800052.3900
05/02/201046.560073.208663.850051.8900
04/02/201046.090073.220963.960050.6500
03/02/201046.040073.790664.330050.8800
02/02/201046.250073.775764.390050.9600
01/02/201046.340073.907764.320051.3700
29/01/201046.370074.783264.630051.5900
28/01/201046.310074.992164.880051.3500
27/01/201046.290074.712165.120051.8300
25/01/201046.180074.525365.410051.2200
22/01/201046.170074.952465.270051.2400
21/01/201045.970074.800164.800050.2000
20/01/201045.950074.875565.200050.3600
19/01/201045.620074.844265.670050.4000
18/01/201045.660074.361965.640050.2600
15/01/201045.670074.586065.880050.1600
14/01/201045.480074.014266.100049.6000
13/01/201045.680074.029066.210050.1400
12/01/201045.400073.162165.860049.2600
11/01/201045.360072.938965.790049.1500
08/01/201045.800073.067065.560049.0700
07/01/201045.870073.263665.940049.7600
06/01/201046.120073.718266.200050.1400
05/01/201046.200074.529866.780050.3500
04/01/201046.510074.853266.480050.0700
01/01/201046.650075.246566.830050.1100
DateUSDGBPEUROYEN

Forex Trading in India:

Regulatory Framework Forex trading in India is regulated by the Reserve Bank of India (RBI) and the Securities and Exchange Board of India (SEBI). The RBI oversees currency exchange and sets guidelines to maintain stability. SEBI regulates Forex trading through authorized brokers and facilitates investor protection.

Currency Pairs in India:

The Indian Rupee (INR) is commonly traded against major international currencies such as the US Dollar (USD), Euro (EUR), British Pound (GBP), and Japanese Yen (JPY). Currency pairs involving the INR offer diverse trading opportunities for market participants.

Comprehensive understanding of market Dynamics:

Understanding Market Dynamics Successful Forex trading requires a comprehensive understanding of market dynamics, including factors influencing currency exchange rates, global economic indicators, geopolitical events, and central bank policies. Continuous learning and staying informed are crucial for making informed trading decisions.

Legal and Tax Implications Complying with legal and tax requirements is vital in Forex trading. Traders must adhere to regulatory guidelines, report their earnings accurately, and fulfill tax obligations as per Indian laws. Seeking professional advice can ensure compliance and mitigate potential legal and financial risks.

Latest Forex Rates In India

Latest Forex Rates Check Here: Sbi

Note: All Rates Displayed below are directly taking from respective websites of bank. For more exact details, Please contact Concern Bank.

In the context of forex exchange rates in India, there are several terminologies used. Here are some key terms you should be familiar with:

  1. Base Currency: The base currency is the currency against which exchange rates are quoted. In India, the Indian Rupee (INR) is often the base currency for forex exchange rates.
  2. Quote Currency: The quote currency is the currency in which the exchange rate is expressed. For example, when quoting the exchange rate of INR to USD, USD would be the quote currency.
  3. Bid Price: The bid price represents the price at which a market participant is willing to buy the base currency. It is the price at which you can sell the quote currency in exchange for the base currency.
  4. Ask Price: The ask price is the price at which a market participant is willing to sell the base currency. It is the price at which you can buy the quote currency in exchange for the base currency.
  5. Spread: The spread refers to the difference between the bid and ask prices. It represents the transaction cost or the profit margin for the currency exchange service provider.
  6. Exchange Rate: The exchange rate indicates the value of one currency in relation to another. It represents the rate at which one currency can be exchanged for another.
  7. Interbank Rate: Interbank rates are the rates at which banks trade currencies with each other. They serve as benchmarks for forex exchange rates and are typically more favorable than retail rates.
  8. Spot Rate: The spot rate refers to the current exchange rate for immediate settlement or delivery of currencies. It is the prevailing rate for on-the-spot transactions.
  9. Forward Rate: A forward rate is an exchange rate agreed upon today but with a future delivery or settlement date. It allows parties to lock in an exchange rate for a future transaction, protecting against currency fluctuations.
  10. Cross Currency Pair: A cross currency pair involves two currencies other than the domestic currency (INR) in India. For example, trading USD to EUR or GBP to JPY would be considered cross currency pairs.

Understanding these terminologies will help you navigate the forex exchange market in India and make informed decisions when dealing with currency transactions.

Conclusion:

Forex exchange in India offers individuals and businesses a gateway to participate in the global currency market. With the right knowledge, understanding market dynamics, and adhering to regulatory frameworks, traders can unlock opportunities and navigate the intricacies of Forex trading. By embracing this dynamic field, participants can harness the potential for financial growth and contribute to India’s thriving economy.

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In July 23

SBI Bank Forex Rate 31-07-23

SBI Forex Update & Old Data- Indian Rupee (INR) is commonly traded against major international currencies such as the US Dollar (USD), Euro (EUR), British Pound (GBP), Thai Baht (THB), Korean Won (KRW) and Japanese Yen (JPY).

SBI-Forex-Rate sbiforexrate.in

Foreign Exchange (forex or FX) is the trading of one currency for another. For example, one can swap the U.S. dollar for the INR.

Introduction:

A foreign exchange rate is the price of the domestic currency stated in terms of different currency. Forex exchange, also known as Forex trading or currency trading, plays a vital role in global economies. In other words, a foreign exchange rate compares one currency with another currency to show their relative values. Forex exchange refers to the buying and selling of currencies on the foreign exchange market. Since standardized currencies around the world float in value with supply, demand and consumer confidence, its values change relatively to each over time. For example, one US dollar in 2020 was worth about 0.68 Euros. In 2023, one US dollar is worth 0.75 Euros. This means the dollar has increased its value over three-year span, but the Euro is still 25% more valuable.

The forex market is the biggest, highly liquid market in the world, with trillions of dollars changing every day. There is no centralized location, rather ‘the forex market is an electronic network of banks, brokers, institutions, and individual traders (mostly trading through brokers or banks). Participants in the Forex market include individuals, financial institutions, corporations, and governments.

Forex Trading in India:

Regulatory Framework Forex trading in India is regulated by the Reserve Bank of India (RBI) and the Securities and Exchange Board of India (SEBI). The RBI oversees currency exchange and sets guidelines to maintain stability. SEBI regulates Forex trading through authorized brokers and facilitates investor protection.

Currency Pairs in India:

The Indian Rupee (INR) is commonly traded against major international currencies such as the US Dollar (USD), Euro (EUR), British Pound (GBP), and Japanese Yen (JPY). Currency pairs involving the INR offer diverse trading opportunities for market participants.

Comprehensive understanding of market Dynamics:

Understanding Market Dynamics Successful Forex trading requires a comprehensive understanding of market dynamics, including factors influencing currency exchange rates, global economic indicators, geopolitical events, and central bank policies. Continuous learning and staying informed are crucial for making informed trading decisions.

Legal and Tax Implications Complying with legal and tax requirements is vital in Forex trading. Traders must adhere to regulatory guidelines, report their earnings accurately, and fulfill tax obligations as per Indian laws. Seeking professional advice can ensure compliance and mitigate potential legal and financial risks.

Explanation of Terms:

T.T. Buying:

Rate at which a Foreign Inward Remittance received by Telegraphic Transfer, Foreign DD or Foreign Cheque is converted into Rupees. In respect of Foreign DDs & Cheques, interest/charges at the ruling rate will be deducted towards transit period/collection as per FEDAI guidelines.

T.C. Buying:

Rate at which Foreign Currency Traveller’s Cheques are bought from the customer. Currency Buying – Rate at which Foreign Currency Note is bought from the customer.

T.T. Selling:

Rate applicable when a customer sends an outward remittance through Telegraphic Transfer or through Issuance of Demand Draft.

T.C. Selling:

Rate applicable when a customer buys Foreign Currency Traveller’s Cheques from the Bank. The same will be arranged through TC issuers.

Currency Selling:

Rate applicable when a customer buys Foreign Currency notes from the Bank. This is however, subject to availability of currency notes at the Branch concerned.

State Bank Of India

Latest Forex Rates In India

Latest Forex RatesĀ CheckĀ Here:Ā Sbi

  CARD RATES FOR TRANSACTIONS BELOW Rs. 10 LACS 
CURRENCY TT BUYTT SELLBILL BUYBILL SELLFOREX TRAVEL CARD BUYFOREX TRAVEL CARD SELLCN BUYCN SELLPC BUY
UNITED STATES DOLLARUSD/INR81.4782.9781.4083.1481.4083.1480.4083.6081.34
EUROEUR/INR89.1292.0889.0592.2789.0592.2787.8092.8088.99
GREAT BRITAIN POUNDGBP/INR104.11107.35104.03107.57104.03107.57102.60108.15103.95
JAPANESE YENJPY/INR57.2058.9057.1559.0257.1559.0254.4561.1057.11
SWISS FRANCCHF/INR92.7396.1692.6696.360.000.0088.3099.8092.59
AUSTRALIAN DOLLARAUD/INR53.8556.1053.8156.2253.8156.2251.7558.2553.77
NEW ZEALAND DOLLARNZD/INR49.9852.1649.9452.270.000.0047.6054.1049.91
CANADIAN DOLLARCAD/INR61.1363.0461.0963.1761.0963.1758.2065.4061.04
SINGAPORE DOLLARSGD/INR60.8462.7060.7962.8360.7962.8357.9565.0560.75
HONG KONG DOLLARHKD/INR10.3810.7110.3610.730.000.009.8511.1010.35
DANISH KRONERDKK/INR11.9712.3411.9612.370.000.0011.4012.8011.95
NORWEGIAN KRONERNOK/INR7.948.187.938.200.000.007.558.457.91
SWEDISH KRONASEK/INR7.697.927.687.930.000.007.308.207.66
BAHRAINI DINARBHD/INR211.83224.64211.68225.100.000.00205.80228.45211.51
KUWAITI DINARKWD/INR259.93276.16259.74276.720.000.00252.50280.80259.54
UAE DIRHAMAED/INR21.7423.0621.7223.1121.7223.1121.1023.4521.71
SAUDI ARABIAN RIYALSAR/INR21.2922.5821.2822.6321.2822.6320.7022.9521.26
SOUTH AFRICAN RANDZAR/INR4.534.814.524.820.000.004.354.904.51
CHINESE YUANCNY/INR0.000.0011.3511.680.000.000.000.000.00
OMANI RIYALOMR/INR207.27220.12207.12220.570.000.00201.35223.850.00
QATARI RIALQAR/INR21.9123.2421.8923.290.000.0021.3023.6521.88
MALAYSIAN RINGGITMYR/INR0.000.000.000.000.000.0016.8519.100.00
THAI BAHTTHB/INR0.000.000.000.000.000.00226.15251.900.00
PAKISTANI RUPEEPKR/INR0.000.000.000.000.000.000.240.300.00
BANGLADESHI TAKABDT/INR0.000.000.000.000.000.000.630.760.00
TURKISH LIRATRY/INR0.000.002.963.140.000.000.000.000.00
KOREAN WONKRW/INR0.000.006.266.660.000.000.000.000.00
CARD RATES FOR TRANSACTIONS BETWEEN Rs. 10 LACS AND Rs. 20 LACS.(To be used as reference rates)
CURRENCYTT BUYTT SELLBILL BUYBILL SELLFOREX TRAVEL CARD BUYFOREX TRAVEL CARD SELLCN BUYCN SELLPC BUY
UNITED STATES DOLLARUSD/INR81.8282.6781.7582.8481.7582.8480.8083.3081.69
EUROEUR/INR89.5091.7489.4391.9389.4391.9388.2092.4589.37
GREAT BRITAIN POUNDGBP/INR104.55106.92104.48107.14104.48107.14103.05107.70104.39
JAPANESE YENJPY/INR57.4358.6957.3958.8157.3958.8154.7060.9057.34
SWISS FRANCCHF/INR93.0795.7693.0095.960.000.0088.6599.4092.93
AUSTRALIAN DOLLARAUD/INR54.0855.9054.0456.0154.0456.0152.0058.0554.00
NEW ZEALAND DOLLARNZD/INR50.1551.9750.1152.080.000.0047.7553.9550.07
CANADIAN DOLLARCAD/INR61.3762.8161.3362.9461.3362.9458.4565.1561.28
SINGAPORE DOLLARSGD/INR61.1062.4861.0562.6161.0562.6158.1564.8561.01
HONG KONG DOLLARHKD/INR10.4210.6710.4110.690.000.009.9011.0510.39
DANISH KRONERDKK/INR12.0212.3012.0112.320.000.0011.4512.7512.00
NORWEGIAN KRONERNOK/INR7.988.157.978.160.000.007.608.457.95
SWEDISH KRONASEK/INR7.737.897.717.900.000.007.358.207.70
BAHRAINI DINARBHD/INR212.74223.83212.59224.290.000.00206.80227.60212.42
KUWAITI DINARKWD/INR261.04275.16260.85275.720.000.00253.75279.80260.65
UAE DIRHAMAED/INR21.8322.9721.8223.0221.8223.0221.2523.3521.80
SAUDI ARABIAN RIYALSAR/INR21.3822.5021.3722.5421.3722.5420.8022.9021.35
SOUTH AFRICAN RANDZAR/INR4.554.794.544.800.000.004.354.904.53
CHINESE YUANCNY/INR0.000.0011.4011.640.000.000.000.000.00
OMANI RIYALOMR/INR208.16219.33208.01219.780.000.00202.35223.050.00
QATARI RIALQAR/INR22.0023.1521.9923.200.000.0021.4023.5521.97
MALAYSIAN RINGGITMYR/INR0.000.000.000.000.000.0016.9519.050.00
THAI BAHTTHB/INR0.000.000.000.000.000.00227.05250.800.00
PAKISTANI RUPEEPKR/INR0.000.000.000.000.000.000.240.290.00
BANGLADESHI TAKABDT/INR0.000.000.000.000.000.000.640.760.00
TURKISH LIRATRY/INR0.000.002.973.130.000.000.000.000.00
KOREAN WONKRW/INR0.000.006.296.630.000.000.000.000.00

Note:  1 JAPANESE YEN (JPY) ,THAI BAHT (THB)  & KOREAN WON (KRW) are quoted in terms of 100 fc units.

  • Above card rates are for foreign currency conversion to INR
  • Card rates mentioned above are indicative and are subject to change based on market volatility. The final rates applicable will be the card rates prevailing at the time of debit/credit to customer account.
  • The rates of Korean Won (KRW) and Turkish Lira(TRY) are for publication purpose only

Note: All Rates Displayed below are directly taking from respective websites of bank. For more exact details, Please contact Concern Bank.

In the context of forex exchange rates in India, there are several terminologies used. Here are some key terms you should be familiar with:

  1. Base Currency: The base currency is the currency against which exchange rates are quoted. In India, the Indian Rupee (INR) is often the base currency for forex exchange rates.
  2. Quote Currency: The quote currency is the currency in which the exchange rate is expressed. For example, when quoting the exchange rate of INR to USD, USD would be the quote currency.
  3. Bid Price: The bid price represents the price at which a market participant is willing to buy the base currency. It is the price at which you can sell the quote currency in exchange for the base currency.
  4. Ask Price: The ask price is the price at which a market participant is willing to sell the base currency. It is the price at which you can buy the quote currency in exchange for the base currency.
  5. Spread: The spread refers to the difference between the bid and ask prices. It represents the transaction cost or the profit margin for the currency exchange service provider.
  6. Exchange Rate: The exchange rate indicates the value of one currency in relation to another. It represents the rate at which one currency can be exchanged for another.
  7. Interbank Rate: Interbank rates are the rates at which banks trade currencies with each other. They serve as benchmarks for forex exchange rates and are typically more favorable than retail rates.
  8. Spot Rate: The spot rate refers to the current exchange rate for immediate settlement or delivery of currencies. It is the prevailing rate for on-the-spot transactions.
  9. Forward Rate: A forward rate is an exchange rate agreed upon today but with a future delivery or settlement date. It allows parties to lock in an exchange rate for a future transaction, protecting against currency fluctuations.
  10. Cross Currency Pair: A cross currency pair involves two currencies other than the domestic currency (INR) in India. For example, trading USD to EUR or GBP to JPY would be considered cross currency pairs.

Understanding these terminologies will help you navigate the forex exchange market in India and make informed decisions when dealing with currency transactions.

Conclusion:

Forex exchange in India offers individuals and businesses a gateway to participate in the global currency market. With the right knowledge, understanding market dynamics, and adhering to regulatory frameworks, traders can unlock opportunities and navigate the intricacies of Forex trading. By embracing this dynamic field, participants can harness the potential for financial growth and contribute to India’s thriving economy.

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In July 23

SBI Bank Forex Rate 28-07-23

SBI Forex Update & Old Data- Indian Rupee (INR) is commonly traded against major international currencies such as the US Dollar (USD), Euro (EUR), British Pound (GBP), Thai Baht (THB), Korean Won (KRW) and Japanese Yen (JPY).

SBI-Forex-Rate sbiforexrate.in

Foreign Exchange (forex or FX) is the trading of one currency for another. For example, one can swap the U.S. dollar for the INR.

Introduction:

A foreign exchange rate is the price of the domestic currency stated in terms of different currency. Forex exchange, also known as Forex trading or currency trading, plays a vital role in global economies. In other words, a foreign exchange rate compares one currency with another currency to show their relative values. Forex exchange refers to the buying and selling of currencies on the foreign exchange market. Since standardized currencies around the world float in value with supply, demand and consumer confidence, its values change relatively to each over time. For example, one US dollar in 2020 was worth about 0.68 Euros. In 2023, one US dollar is worth 0.75 Euros. This means the dollar has increased its value over three-year span, but the Euro is still 25% more valuable.

The forex market is the biggest, highly liquid market in the world, with trillions of dollars changing every day. There is no centralized location, rather ‘the forex market is an electronic network of banks, brokers, institutions, and individual traders (mostly trading through brokers or banks). Participants in the Forex market include individuals, financial institutions, corporations, and governments.

Forex Trading in India:

Regulatory Framework Forex trading in India is regulated by the Reserve Bank of India (RBI) and the Securities and Exchange Board of India (SEBI). The RBI oversees currency exchange and sets guidelines to maintain stability. SEBI regulates Forex trading through authorized brokers and facilitates investor protection.

Currency Pairs in India:

The Indian Rupee (INR) is commonly traded against major international currencies such as the US Dollar (USD), Euro (EUR), British Pound (GBP), and Japanese Yen (JPY). Currency pairs involving the INR offer diverse trading opportunities for market participants.

Comprehensive understanding of market Dynamics:

Understanding Market Dynamics Successful Forex trading requires a comprehensive understanding of market dynamics, including factors influencing currency exchange rates, global economic indicators, geopolitical events, and central bank policies. Continuous learning and staying informed are crucial for making informed trading decisions.

Legal and Tax Implications Complying with legal and tax requirements is vital in Forex trading. Traders must adhere to regulatory guidelines, report their earnings accurately, and fulfill tax obligations as per Indian laws. Seeking professional advice can ensure compliance and mitigate potential legal and financial risks.

Explanation of Terms:

T.T. Buying:

Rate at which a Foreign Inward Remittance received by Telegraphic Transfer, Foreign DD or Foreign Cheque is converted into Rupees. In respect of Foreign DDs & Cheques, interest/charges at the ruling rate will be deducted towards transit period/collection as per FEDAI guidelines.

T.C. Buying:

Rate at which Foreign Currency Traveller’s Cheques are bought from the customer. Currency Buying – Rate at which Foreign Currency Note is bought from the customer.

T.T. Selling:

Rate applicable when a customer sends an outward remittance through Telegraphic Transfer or through Issuance of Demand Draft.

T.C. Selling:

Rate applicable when a customer buys Foreign Currency Traveller’s Cheques from the Bank. The same will be arranged through TC issuers.

Currency Selling:

Rate applicable when a customer buys Foreign Currency notes from the Bank. This is however, subject to availability of currency notes at the Branch concerned.

State Bank Of India

Latest Forex Rates In India

Latest Forex RatesĀ CheckĀ Here:Ā Sbi

  CARD RATES FOR TRANSACTIONS BELOW Rs. 10 LACS 
CURRENCY TT BUYTT SELLBILL BUYBILL SELLFOREX TRAVEL CARD BUYFOREX TRAVEL CARD SELLCN BUYCN SELLPC BUY
UNITED STATES DOLLARUSD/INR81.5083.0081.4383.1781.4383.1780.4083.6081.37
EUROEUR/INR88.7891.7488.7291.9288.7291.9287.5092.4588.65
GREAT BRITAIN POUNDGBP/INR103.49106.72103.42106.94103.42106.94102.00107.50103.33
JAPANESE YENJPY/INR58.4360.1858.3960.3058.3960.3055.6062.4558.34
SWISS FRANCCHF/INR92.9796.3792.9096.560.000.0088.55100.0092.83
AUSTRALIAN DOLLARAUD/INR53.6655.8753.6255.9953.6255.9951.6057.9553.58
NEW ZEALAND DOLLARNZD/INR49.7151.9349.6752.040.000.0047.3053.9049.64
CANADIAN DOLLARCAD/INR61.1663.0961.1163.2161.1163.2158.2065.4561.07
SINGAPORE DOLLARSGD/INR60.8462.7060.7962.8360.7962.8357.9565.0560.75
HONG KONG DOLLARHKD/INR10.3810.7110.3710.730.000.009.8511.1010.35
DANISH KRONERDKK/INR11.9312.3011.9212.320.000.0011.3512.7511.91
NORWEGIAN KRONERNOK/INR7.948.177.938.190.000.007.558.457.91
SWEDISH KRONASEK/INR7.717.937.707.950.000.007.308.207.68
BAHRAINI DINARBHD/INR211.91224.72211.75225.180.000.00205.80228.60211.59
KUWAITI DINARKWD/INR260.07275.85259.87276.420.000.00252.55280.55259.68
UAE DIRHAMAED/INR21.7523.0721.7323.1221.7323.1221.1023.4521.72
SAUDI ARABIAN RIYALSAR/INR21.3022.5821.2822.6321.2822.6320.7022.9521.27
SOUTH AFRICAN RANDZAR/INR4.474.744.464.750.000.004.304.854.45
CHINESE YUANCNY/INR0.000.0011.3411.670.000.000.000.000.00
OMANI RIYALOMR/INR207.35220.20207.34220.500.000.00201.35223.950.00
QATARI RIALQAR/INR21.9123.2721.9023.320.000.0021.3023.6521.88
MALAYSIAN RINGGITMYR/INR0.000.000.000.000.000.0016.8519.150.00
THAI BAHTTHB/INR0.000.000.000.000.000.00224.85250.350.00
PAKISTANI RUPEEPKR/INR0.000.000.000.000.000.000.240.290.00
BANGLADESHI TAKABDT/INR0.000.000.000.000.000.000.630.760.00
TURKISH LIRATRY/INR0.000.002.963.140.000.000.000.000.00
KOREAN WONKRW/INR0.000.006.246.640.000.000.000.000.00
CARD RATES FOR TRANSACTIONS BETWEEN Rs. 10 LACS AND Rs. 20 LACS.(To be used as reference rates)
CURRENCYTT BUYTT SELLBILL BUYBILL SELLFOREX TRAVEL CARD BUYFOREX TRAVEL CARD SELLCN BUYCN SELLPC BUY
UNITED STATES DOLLARUSD/INR81.8582.7081.7882.8781.7882.8780.8083.3081.72
EUROEUR/INR89.1691.4189.1091.5989.1091.5987.8592.1089.03
GREAT BRITAIN POUNDGBP/INR103.98106.34103.90106.56103.90106.56102.50107.10103.82
JAPANESE YENJPY/INR58.7360.0158.6860.1358.6860.1355.9062.2558.64
SWISS FRANCCHF/INR93.3796.0793.3096.270.000.0088.9599.7093.23
AUSTRALIAN DOLLARAUD/INR53.9355.7153.8955.8353.8955.8351.8557.8053.85
NEW ZEALAND DOLLARNZD/INR49.9651.7449.9351.850.000.0047.6053.7049.89
CANADIAN DOLLARCAD/INR61.4462.8661.4062.9961.4062.9958.5065.2061.35
SINGAPORE DOLLARSGD/INR61.1262.5061.0862.6361.0862.6358.2064.8561.03
HONG KONG DOLLARHKD/INR10.4210.6710.4110.690.000.009.9011.1010.39
DANISH KRONERDKK/INR11.9712.2511.9612.270.000.0011.4012.7011.95
NORWEGIAN KRONERNOK/INR7.988.157.978.160.000.007.608.457.95
SWEDISH KRONASEK/INR7.747.907.727.910.000.007.358.207.71
BAHRAINI DINARBHD/INR212.82223.91212.66224.370.000.00206.80227.75212.50
KUWAITI DINARKWD/INR261.26274.94261.07275.500.000.00253.90279.65260.87
UAE DIRHAMAED/INR21.8422.9821.8323.0321.8323.0321.2523.4021.81
SAUDI ARABIAN RIYALSAR/INR21.3922.5021.3722.5521.3722.5520.8022.9021.36
SOUTH AFRICAN RANDZAR/INR4.494.724.484.730.000.004.354.804.47
CHINESE YUANCNY/INR0.000.0011.3911.620.000.000.000.000.00
OMANI RIYALOMR/INR208.39219.25208.23219.700.000.00202.50223.000.00
QATARI RIALQAR/INR22.0123.1921.9923.240.000.0021.4023.6021.98
MALAYSIAN RINGGITMYR/INR0.000.000.000.000.000.0016.9519.050.00
THAI BAHTTHB/INR0.000.000.000.000.000.00225.85249.600.00
PAKISTANI RUPEEPKR/INR0.000.000.000.000.000.000.240.290.00
BANGLADESHI TAKABDT/INR0.000.000.000.000.000.000.640.760.00
TURKISH LIRATRY/INR0.000.002.973.130.000.000.000.000.00
KOREAN WONKRW/INR0.000.006.276.620.000.000.000.000.00

Note:  1 JAPANESE YEN (JPY) ,THAI BAHT (THB)  & KOREAN WON (KRW) are quoted in terms of 100 fc units.

  • Above card rates are for foreign currency conversion to INR
  • Card rates mentioned above are indicative and are subject to change based on market volatility. The final rates applicable will be the card rates prevailing at the time of debit/credit to customer account.
  • The rates of Korean Won (KRW) and Turkish Lira(TRY) are for publication purpose only

Note: All Rates Displayed below are directly taking from respective websites of bank. For more exact details, Please contact Concern Bank.

In the context of forex exchange rates in India, there are several terminologies used. Here are some key terms you should be familiar with:

  1. Base Currency: The base currency is the currency against which exchange rates are quoted. In India, the Indian Rupee (INR) is often the base currency for forex exchange rates.
  2. Quote Currency: The quote currency is the currency in which the exchange rate is expressed. For example, when quoting the exchange rate of INR to USD, USD would be the quote currency.
  3. Bid Price: The bid price represents the price at which a market participant is willing to buy the base currency. It is the price at which you can sell the quote currency in exchange for the base currency.
  4. Ask Price: The ask price is the price at which a market participant is willing to sell the base currency. It is the price at which you can buy the quote currency in exchange for the base currency.
  5. Spread: The spread refers to the difference between the bid and ask prices. It represents the transaction cost or the profit margin for the currency exchange service provider.
  6. Exchange Rate: The exchange rate indicates the value of one currency in relation to another. It represents the rate at which one currency can be exchanged for another.
  7. Interbank Rate: Interbank rates are the rates at which banks trade currencies with each other. They serve as benchmarks for forex exchange rates and are typically more favorable than retail rates.
  8. Spot Rate: The spot rate refers to the current exchange rate for immediate settlement or delivery of currencies. It is the prevailing rate for on-the-spot transactions.
  9. Forward Rate: A forward rate is an exchange rate agreed upon today but with a future delivery or settlement date. It allows parties to lock in an exchange rate for a future transaction, protecting against currency fluctuations.
  10. Cross Currency Pair: A cross currency pair involves two currencies other than the domestic currency (INR) in India. For example, trading USD to EUR or GBP to JPY would be considered cross currency pairs.

Understanding these terminologies will help you navigate the forex exchange market in India and make informed decisions when dealing with currency transactions.

Conclusion:

Forex exchange in India offers individuals and businesses a gateway to participate in the global currency market. With the right knowledge, understanding market dynamics, and adhering to regulatory frameworks, traders can unlock opportunities and navigate the intricacies of Forex trading. By embracing this dynamic field, participants can harness the potential for financial growth and contribute to India’s thriving economy.

Continue Reading

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