Page 73 - COMBINED QUESTIONS AND ANSWERS - EDITION 2019 - PART II_Neat

CURRENCY/FOREIGN CURRENCY
Q-251: A bank account held in a foreign country by a domestic bank, denominated in the currency
of that country
(i) COSTRO
(ii) VOSTRO
(iii) POSTRO
(iv) NOSTRO
A-251: ii - NOSTRO

Q-252: Indicate the name of the currency of the following countries:
(i) Belgium
(ii) Japan
(iii) Sweden
(iv) Germany
(v) Pakistan
A-252: i - Euro
ii - Yen
iii - Krona
iv - Euro
v - Rupee
Q-253: Normally, the goods imported against payment in freely convertible currency would be
permitted for export only against payment in
(i) Indian Currencies
(ii) Freely convertible currency
(iii) Any Foreign Currencies
(iv) None of the above
A-253: ii - Freely convertible currency
Q-254: Customs exchange rates are issued through
(i) Tariff Notification
(ii) Non-Tariff Notification
(iii) Circular
(iv) Instruction
A-254: ii - Non-tariff Notification
Q-255: The value shown in the invoices in foreign currency is required to be converted into
(i) Need not to convert
(ii) Indian Rupees
(iii) USD
(iv) None of the above
A-255: Indian Rupees

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