Conversion rates Query

[ashokccs]

Hi pals,

when I try to convert the INR to GBP I get 2 values eg:
Median price = 73.26861 / 73.77339 (bid/ask)

could someone let me know which value to consider for
converting my previous earnings???

awaiting your reply,
Ash.

[Tier1_Bristol]

Hi pals,

when I try to convert the INR to GBP I get 2 values eg:
Median price = 73.26861 / 73.77339 (bid/ask)

could someone let me know which value to consider for
converting my previous earnings???

awaiting your reply,
Ash.

I would go with the min. price (median one).

Cheers

[suds19]

Currency Converter at OANDA gives you -
====================================
Wednesday, March 18, 2009

1 British Pound = 73.77339 Indian Rupee

1 Indian Rupee (INR) = 0.01356 British Pound (GBP)

Median price = 73.26861 / 73.77339 (bid/ask)
Estimated price based on daily US dollar rates.
====================================

Though the Tier-1 guidance notes doesn't say anything about it, but always go with the "1 Indian Rupee (INR) = 0.0xxxx British Pound (GBP)" figure, which is the price at which you will buy 1 Indian Rupee.
Multiply it with your previous earnings to arrive at GBP figure.

And for maintenance fund, use "1 British Pound = xx.xxxx Indian Rupee" figure to calculate how much minimum balance you should have maintained.

Don't bother about the Median price column where two rates are shown, one for buying and another for selling. Use the rates as I have mentioned above.