What is the exchange rate to be utilized while selling?
Ans: The average exchange rate is the average of the telegraphic transfer buying rate and telegraphic selling rate of the foreign currency initially utilized in the purchase of said asset. For this purpose, telegraphic transfer buying/selling rate in relation to a foreign currency rate is rate of exchange adopted by State Bank of India for purchasing or selling such currency where such currency is made available by that bank through telegraphic transfer.
