RATE CONVERSION
USD 1 = RM4.2
BANK CHARGE ON RATE
RM0.25
RATE AFTER CHARGE
USD 1 = RM4.2 – RM0.25
= RM3.95
EXAMPLE (refer BQ Phase 4 Open Yard)
52343.68 USD = 52343.68 X RM4.2 = RM219,843.46
Bank charges = RM0.25 (bank will deduct from rate conversion)
52343.68 USD = 52343.68 X (RM4.2 – RM0.25) = RM206,757.54
RM219,843.46 – RM 206,757.54 = RM13,085.92
We loss about RM13,085.92
RM13,085.92 = 3115.70 USD (bank charge)
To cover loss due bank charge, we add RM0.25 on rate
52343.68 USD = 52343.68 X (RM4.2 + RM0.25) = RM232,929.38 / 55,459.38 USD
RM
: RM232,929.38 – RM13,085.92 = RM219,843.46 (cover back bank charge)
USD
: 55,459.38 USD – 3115.70 USD = 52,343.68 USD