Old answer was incorrect . If again wrong i will downvote the same

41. Managing Risks - Billing Currency In the following cases, ascertain the currency for invoicing, which will yield the maximum benefit , to the Indian Company - (a) Meera Garments, Chennai, are licensed manufacturer of "Levi Strauss" denim clothing. They supplied apparels and accessories worth USD 3,50,000 to Levi Strauss' unit in Singapore. They have option of billing either in USDI SGD (Singapore Dollars 2,30,009, based on prevailing spot rate at Chennai). The payment terms are 30 days. The 30-Day forward swap for USD is quoted at 0.25 -0.20 & for Singapore Dollar is at 0.15-0.20. (b) VK Spices has exported Cardamom and Cashews to a Supermarket Chain in the Middle East with a credit period of 60 days. The invoice value is * 2.50 Crores. VKS can either bill in Rupees or the USD Equivalent. The ruling USD Rate is 40.35 -- 40.55. The 60 day forward quote is at 0.25 -0.20. (c) AB Polyfilms Ltd (ABPL) has imported a 7-Colour Gravure Printing Machine from Germany costing Euro 4,45,000. AB Polyfilms Ltd can get the invoice either in Euro or Deutsche Marks 1.20 Millions. 6-Month Forward Rate for Euro is 58.50 - 58.90. Quote for 6-Month Forward Deutsche Marks (DM) is not available in India. But it is quoted at discount against the Dollar in international exchanges at USD 52.50 - 52.80 for every DM 100. The Spot Rate for DM at international market is at USD 51.40 - 51.60. The rates for USD in Mumbai is as follows - Spoi * 40.50 - 40.70, 6-Month Forward 41.40-41.70. (d) The Alagappa Group of India rendered software development services to a Bank in Hong Kong. The value of service rendered in Indian Rupee is 7 12 Crores. AGI can either bill the Bank in HKD /USD. The spot price is at USD 40.50 - 40.75, HKD 5.70 - 5.80.2-Month Forward Rates are USD 40.80 - 41.00 and HKD 5.75 -5.85. (e) Trinity Engineering Works (TEW) engaged two technical experts from United Kingdom for studying their Diesel Engine Manufacturing Unit in Maharashtra. TEW is required to pay the consideration either in GBP 36,000 or its Rupee Equivalent. The 30 Day forward rates swaps are quoted at-0.50 - 0.80