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|
TT Clean Rate |
BC Rate |
|
1 |
TT stands for Telegraphic Transfer |
BC stands for Buying Currency Rate |
|
2 |
Represents the exchange rate for electronic or wire transfers |
Represents the rate at which a bank buys foreign currency |
|
3 |
Used for international fund transfers and foreign currency transactions |
Used for foreign exchange transactions particularly when purchasing
foreign currency |
|
4 |
Typically offered to individuals or businesses for money transfers |
Typically used by banks or
financial institutions for buying foreign currency |
|
5 |
Reflects the market value of the currency pair at the time of transfer |
Reflects the rate at which a bank acquires foreign currency from the market |
|
6 |
Often involves services charges or fees for the transfer |
May involve commissions or fees charged by the bank for the foreign
currency purchase |
|
7 |
Rates may vary depending on the transfer amount and destination |
Rates may vary based on the volume of the foreign currency being bought
and sold |
|
8 |
Generally used for remittances international trade, or personal
transfer |
Primarily used by bank for their
own foreign exchange activities |
|
9 |
TT clean rates are more commonly quoted in financial markets |
BC rates are used internally by
banks and may not be readily available to the public. |