BANKERS BUYING RATE (BBR)

• THE RATE WHICH IS USED TO CONVERT LCF TO ANOTHER CURRENCY WHEN ACCEPTING SUCH OTHER CURRENCY IN THE COC.

• THE RATE AT WHICH A BANK WILL PURCHASE A GIVEN AMOUNT OF FOREIGN CURRENCY IN EXCHANGE OF THE NATIONAL CURRENCY OF THE COUNTRY IN WHICH THE EXCHANGE TRANSACTION TAKES PLACE.

BANKERS BUYING RATE (BBR) CONDITIONS OR WHEN TO USE

• WHEN PAYMENT IS MADE INSIDE THE COC IN A CURRENCY WHICH IS NOT THE CURRENCY OF THE COC.

• WHEN CONVERTING TO THE ORIGINAL NATIONAL CURRENCY OF US DOLLAR COUNTRIES.

• WHEN PAYMENT IS MADE IN THE COUNTRY OF SALE, BUT IN A CURRENCY WHICH IS NOT THE CURRENCY OF THE COUNTRY OF SALE.