Is it true that indian currency has to be converted in foreign exchange before

Is it true that indian currency has to be converted in
foreign exchange before going to other countries?

Question Posted / geniusbittu

3 Answers
5599 Views
I also Faced
E-Mail Answers

Answers were Sorted based on User's Feedback

Is it true that indian currency has to be converted in foreign exchange before going to other count..

Answer / badri.jena

Of course. There is no ambiguity ,conversion is must.e.g if
u go to England u can not do any transaction through INR.
You have convert it to GBP (Currency of England).
Thus wherever u go to foreign country u need to convert to
that respective currency.There are some theories upon which
conversion rate is determined. For further study u could
refer to any International financial management book.

Is This Answer Correct ?

2 Yes

1 No

Is it true that indian currency has to be converted in foreign exchange before going to other count..

Answer / harwinder singh

certainely,it is true.conversion is inevitable.If you don't
convert one country's currency to respective country's
currency ,you will not be able to buy anything.So
conversion is must.

Is This Answer Correct ?

1 Yes

1 No

Is it true that indian currency has to be converted in foreign exchange before going to other count..

Answer / krishna

if u want go other countries for the purpose
of education and for the vocation dat tym u need to convert
Indian currency in foreign currency through the banks
...

Is This Answer Correct ?

1 Yes

1 No

Post New Answer

More Banking Finance Interview Questions

What is 'biflation'?

0 Answers

What are main valuation methodologies?

0 Answers

Explain sovereign wealth fund.

0 Answers

mortgage case study

2 Answers HDFC, Stree Nidhi, XL Dynamics,

What is Public expenditure?

0 Answers RBI,

what is weighted average rating factor?

0 Answers

30% of 30%

2 Answers

What is Revenue deficit?

1 Answers

We are receiving inflation in a numeric value. Can you explain how the number is arrived?? And CRR is the ratio of the money the Bank/institution has to keep the money with the RBI. Is there any interest being paid by RBI to the Bank for the cash reserve fund with the RBI?

1 Answers

WE HAVE SOLD GOODS ON 20.09.2010 TO X AND IT HAS BEEN RECODED BY X IN HIS BOOKS ON 08.10.2010 ACCORDINGLY X HAS ISSUED FORM C IN THE QR.OCT-DEC IS IT ALLOWABLE UNDER CST ACT.

2 Answers

a company has deducted tds but not issuing certificate how can i find out tds amount. i have pan number.please help me thank you.

2 Answers Google,

present i am studying mba but basically i am from science background i completed my graduation with bsc.biotechnology wat to say for question why you change your stream ? how can fulfill the requirements of job?

1 Answers DSK Supinfocom, eClerx, Infosys,

For more Banking Finance Interview Questions Click Here