TTB
- how to read
- How to read in Japanese: TTB
- synonyms
- antonym
The TTB (Telegraphic Transfer Buying Rate) is the rate at which financial institutions purchase foreign currencies from customers for foreign currency deposits and other purposes.
A buying rate from the buyer of a foreign currency is a selling rate from the customer’s point of view. In other words, in foreign currency deposits, it refers to the rate at which foreign currency is converted into Japanese yen.
Banks that exchange currency must charge a commission for the exchange because they have personnel, communication, and other expenses. Therefore, banks generally sell at a lower rate than the standard rate (called TTM).
For example, if TTM is 110 yen per dollar, TTB would be 109 yen per dollar, and so on. Conversely, the rate at which a currency is bought from a bank is called TTS.
Rates such as TTB, TTM, and TTS vary from bank to bank, so choose the most advantageous place to trade.