What does it mean by buying TT or OD or selling TT or OD in foreign exchange?

Answer 1

When buying or selling foreign currency, "TT" stands for telegraphic transfer, which refers to electronic transfers of funds between banks. "OD" stands for on demand, which refers to transactions that are processed immediately. Buying TT means purchasing foreign currency through a telegraphic transfer, while selling TT means selling foreign currency through a telegraphic transfer. Buying OD means purchasing foreign currency for immediate delivery, while selling OD means selling foreign currency for immediate delivery.

Answer 2

Well, hello there! When you see terms like TT or OD in foreign exchange, it's just a way to describe different types of transactions. TT stands for telegraphic transfer, which is a quick way to send money electronically. OD means on demand, which is more like a traditional bank transfer. Whether you're buying or selling TT or OD, it's all about choosing the method that works best for you. Just remember, there's no mistakes in foreign exchange, just happy little transactions waiting to be made.

Answer 3

TT - telegraphic transfer OD - on demand, i.e. currency notes Buying TT or OD = bank buying from you Selling TT or OD = you buying from bank