Question
ABN Amro Bank, Amsterdam, wants to purchase Rs.15 m against $ for funding their Vostro account with Canara Bank, New Delhi. Assuming the inter bank,
ABN Amro Bank, Amsterdam, wants to purchase Rs.15 m against $ for funding their Vostro account with Canara Bank, New Delhi. Assuming the inter bank, rates of $ is 51.3625 - 3700, what would be the rate Canara Bank would quote to ABN Amro Bank?
Further if the deal is stuck, what would be the equivalent $ amount.
Step by Step Solution
There are 3 Steps involved in it
Step: 1
The solution to the problem is given as below Lets calculate the rate that Canara Bank would quote t...
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started
Principles of Information Systems
Authors: Ralph M. Stair, George W. Reynolds
9th edition
978-1337097536, 1337097535, 978-1337515634, 1337515639, 978-0324665284
