UMESH RAUT: TRAVEL AND TOURISM COURSE
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PRESENTS
FOR
TRAVEL INDUSTRY
STUDENTS AND PROFESSIONALS
Bankers' selling rate is the rate at which a bank will sell a given amount of foreign currency in exchange for one unit (or units) of the national currency of the country in which the exchange transaction takes place. The rate at which, for the purpose of the transfer of funds through banking channels (i.e. other than transactions in bank notes, travellers' cheques and similar banking instruments), a bank will sell a given amount of foreign currency in exchange for one unit (or units) of the national currency of the country in which the exchange transaction takes place
Conditions or when to use bankers' selling rate (BSR)
The situations that require the use of the latest bsr involve payment made outside the country in the currency of the country of sale. The bsr is also applied for tax conversions. If payment is made outside the coc in the country's currency, use the bsr to convert the lcf to the equivalent fare paid. The bsr procedure is also used when the currency of payment is expressed in euros, and the payment is made in an emu country. The local currency fare of the COC is converted to the euro at the bsr.