Historical telegraphic transfer buying rate for a currency

As per Rule 26 of the Income Tax Act, TT buying rate means the rate adopted by SBI as per guidelines issued by RBI. Now the practical issue is that SBI Forex Card Rates are updated on daily basis and there is no way on the internet to get the rates of past dates until and unless such person have saved the rates.

For this purpose, we use OANDA currency converter to get the past rates. Here, I would like to highlight that there will be a minor difference between the rate as per OANDA and SBI, however in the absence of SBI rates, we can use OANDA as an alternative and can provide sufficient evidences on this rates if the same is challenged by Assessing Officer in scrutiny.

Thanks and Regards,
If you need more clarification, please feel free to contact me.
Nihit Somani
8989066636

Hi Keshavaprasad, You can find SBI TT rates from 01 January 2020 onwards at https://mksco.in/forexrate Use the rates given on the second page of the rate cards as that is the reference rate.

Thanks Manish.

But if one needs to know the SBI TT buying rates from the past, how can he get those ?

I see that that the rates after 1/1/2020 are posted on the website you mentioned, but I'm interested in the rates before 1/1/2020.

 

I visited SBI branch nearby, but even those guys seem helpless. 

Please help.

 

Regards,

Sanjeev 

Dear Sanjeev,

Unfortunately I cannot help you with rates for 2019 and earlier. It is exactly because rates were not available to the profession that we started capturing and posting it online for access to all. I suggest you use RBI mid-rates in case you cannot find SBI TT rates for the dates you are looking for.

Best wishes

Maneesh

Dear Maneesh

 

your website https://mksco.in/forexrate is very helpful thanks. but when I click for 2022 Forex card rates it displays interest rate perquisite calculation. can you please check and guide for 2022 rates. I need for rates for Sep 2022 to be precise 

thanks in advance

pranati 

Dear Maneesh,

your website https://mksco.in/forexrate is very helpful for the 2022 year data. But it is not updated for 2023 forex rates. Please update it if possible.