Mathematics · Foreign Exchange Calculations
A Mumbai-based exporter realizes an export bill of USD 150,000 on March 15 and deposits it in an EEFC account. The balance carried from February is USD 20,000 (declared for future commitment). On March 20, he pays USD 40,000 for raw material import and USD 5,000 for marketing. On April 5, he receives another USD 10,000. Under RBI EEFC surrender rules (100% surrender of unutilized March accruals by April 30), calculate the amount that must be compulsorily converted into INR by April 30, assuming no further debits occur.
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1USD 150,000
- 2USD 135,000
- 3USD 125,000✓
- 4USD 105,000
Correct answer
USD 125,000
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