Foreign currency: SPOT RATE It is the rate at which a foreign exchange trade can be immediately transacted. The reason for spot market is i. Settle a commercial transaction through buying and selling local currency. ii. Settle a financial operation(e.g. buying FC for repayment of loan or interest) iii. Balance or hedge an unwanted position in FC iv. Increase/decrease a currency position as a speculative move owing to expected future currency movements. While some major currency are traded directly (Rs/SR, Rs/JPY) while smaller currencies are traded indirectly. The ba...
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