📝 One-liners · 65 cards
1 A BFM EXCHANGE RATES AND FOREX BUSINESS
What is an exchange rate?
An exchange rate is the price at which one currency can be exchanged for another. It determines how much of one currency is needed to purchase a unit of another currency.
What is the TT (Telegraphic Transfer) rate used for in forex?
Rate used for wire transfers with no physical currency movement.
What is the difference between a direct quote and an indirect quote?
A direct quote expresses the domestic currency per unit of foreign currency (e.g., INR per USD), while an indirect quote expresses the foreign currency per unit of domestic currency (e.g., USD per INR).
What is the difference between TT buying and TT selling rate?
TT buying is bank's rate to buy forex; TT selling is rate to sell forex.
🔒
Unlock 65 revision one-liners
Interactive flashcard deck — flip every card to drill questions and answers, mark the ones you got wrong, and revise smarter for 1 A BFM EXCHANGE RATES AND FOREX BUSINESS.
🪙
Unlock cost
300 coins
30-day access · re-unlocks free for 30 days