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Foreign Exchange

Foreign Exchange. FOREX. 11. Cover Rate : It is IB Spot Rate at which merchant transaction is covered in the IB market. That means if Bank Buys $ from customer in merchant transaction the cover transaction would be to Sell $ in IB market. Base Rate :

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Foreign Exchange

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  1. Foreign Exchange FOREX

  2. 11. Cover Rate : It is IB Spot Rate at which merchant transaction is covered in the IB market. That means if Bank Buys $ from customer in merchant transaction the cover transaction would be to Sell $ in IB market. Base Rate : It is an IB Spot rate (ongoing) which forms the basis for computation of merchant. In Exam unless Specifically mentioned Cover Rate and Base Rate are same and both represent IB Spot Rate.

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