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USD/INR spot quote is 83.20-83.30. A customer wishing to buy USD from the bank will pay:
ARs 83.20 per USD
BRs 83.30 per USD
CRs 83.25 mid-rate per USD
DRs 83.50 above the spread
Answer & Solution
Correct answer: B. Rs 83.30 per USD
1. Identify what the question asks: this concept maps to customerbuy (§5.3).
2. Apply the framework or formula relevant to the topic.
3. Eliminate distractors and arrive at the correct option (B).
_Source: ICAI BoS CA Final Paper 2, Ch 10 "Foreign Exchange Exposure and Risk Management"_
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