Central Bank Base Rates & 3-Day FX Transfer Savings

Countries consolidated by currency. Interest is computed on 100,000,000 units of local currency at the latest policy/base rate. We show daily interest, one-month interest, and the potential 3-day saving (opportunity cost avoided) if settlement time is reduced from 3 days. All comparison values are converted into INR.

Assumed transfer delay

3 days

INR policy rate used

5.25% (RBI policy repo rate)

Saving on ₹100 crore over 3 days

₹431,506.85

Currency Countries Policy/Base Rate Daily Interest
(100M local)		 Monthly Interest
(100M local)		 3-Day Interest
(100M local)		 INR per 1 unit 100M in INR
(Indian units)		 3-Day Interest in INR
(Indian units)		 Monthly Interest
in INR
(Indian units)		 3-Day Savings
Opportunity
(Indian units)
AED AE 3.65% 10,000.00 304,166.67 30,000.00 25.603700 ₹2,560,370,000.00 ₹768,111.00 ₹7,787,792.08 ₹768,111.00
AUD AU 4.10% 11,232.88 341,666.67 33,698.63 67.303800 ₹6,730,380,000.00 ₹2,268,045.86 ₹22,995,465.00 ₹2,268,045.86
BRL BR 14.75% 40,410.96 1,229,166.67 121,232.88 19.014913 ₹1,901,491,339.66 ₹2,305,232.65 ₹23,372,497.72 ₹2,305,232.65
CAD CA 2.25% 6,164.38 187,500.00 18,493.15 68.725900 ₹6,872,590,000.00 ₹1,270,958.42 ₹12,886,106.25 ₹1,270,958.42
CHF CH 0.00% 0.00 0.00 0.00 119.959000 ₹11,995,900,000.00 ₹0.00 ₹0.00 ₹0.00
DKK DK 1.60% 4,383.56 133,333.33 13,150.68 14.730900 ₹1,473,090,000.00 ₹193,721.42 ₹1,964,120.00 ₹193,721.42
EUR BE,DE,ES,EU,FI,FR,IE,IT,NL,PT 2.15% 5,890.41 179,166.67 17,671.23 110.093000 ₹11,009,300,000.00 ₹1,945,479.04 ₹19,724,995.83 ₹1,945,479.04
GBP UK 3.75% 10,273.97 312,500.00 30,821.92 126.940000 ₹12,694,000,000.00 ₹3,912,534.25 ₹39,668,750.00 ₹3,912,534.25
HKD HK 4.00% 10,958.90 333,333.33 32,876.71 12.004900 ₹1,200,490,000.00 ₹394,681.64 ₹4,001,633.33 ₹394,681.64
INR IN 5.25% 14,383.56 437,500.00 43,150.68 1.000000 ₹100,000,000.00 ₹43,150.68 ₹437,500.00 ₹43,150.68
JPY JP 0.75% 2,054.79 62,500.00 6,164.38 0.589835 ₹58,983,478.73 ₹3,635.97 ₹36,864.67 ₹3,635.97
NOK NO 4.00% 10,958.90 333,333.33 32,876.71 10.098800 ₹1,009,880,000.00 ₹332,015.34 ₹3,366,266.67 ₹332,015.34
NZD NZ 2.25% 6,164.38 187,500.00 18,493.15 55.313200 ₹5,531,320,000.00 ₹1,022,915.34 ₹10,371,225.00 ₹1,022,915.34
PLN PL 3.75% 10,273.97 312,500.00 30,821.92 25.968200 ₹2,596,820,000.00 ₹800,389.73 ₹8,115,062.50 ₹800,389.73
QAR QA 4.10% 11,232.88 341,666.67 33,698.63 25.718200 ₹2,571,820,000.00 ₹866,668.11 ₹8,787,051.67 ₹866,668.11
SAR SA 4.25% 11,643.84 354,166.67 34,931.51 25.053400 ₹2,505,340,000.00 ₹875,153.01 ₹8,873,079.17 ₹875,153.01
SEK SE 1.75% 4,794.52 145,833.33 14,383.56 10.207900 ₹1,020,790,000.00 ₹146,825.96 ₹1,488,652.08 ₹146,825.96
SGD SG 2.11% 5,780.82 175,833.33 17,342.47 73.694200 ₹7,369,420,000.00 ₹1,278,039.14 ₹12,957,896.83 ₹1,278,039.14
USD US 3.625% 9,931.51 302,083.33 29,794.52 94.022700 ₹9,402,270,000.00 ₹2,801,361.27 ₹28,402,690.62 ₹2,801,361.27
ZAR ZA 6.75% 18,493.15 562,500.00 55,479.45 5.688770 ₹568,877,000.00 ₹315,609.84 ₹3,199,933.12 ₹315,609.84
TOTALS 20 Currencies - - - - - ₹89,173,131,818.39 ₹21,544,528.69 ₹218,437,582.56 ₹21,544,528.69
Notes & assumptions: Daily = P × rate / 365; Monthly = P × rate / 12. "3-Day Interest" approximates the opportunity cost of funds in transit for three calendar days. Monthly Interest is calculated as (Annual Rate ÷ 12) × 100M local currency, then converted to INR. INR conversions use Wise mid-market rates captured on 23 April 2026. Large INR values are displayed in Indian financial units (lakh/crore) for easier RBI-style reading, with the exact amount preserved in the hover tooltip. Policy/base rates were refreshed to current public central-bank values aligned with the BIS central bank policy-rate release cycle. Singapore is shown using SORA as a market benchmark because MAS does not operate a conventional policy-rate target. U.S. values use the midpoint of the Federal Funds target range.

Daily Settlement Float Opportunity Cost Analysis

Key Insight: With 3-day settlement, institutions maintain 3× their daily volume permanently tied up in the settlement pipeline. Weighted average daily opportunity cost: 0.0080534% across all 20 currencies when translated into INR.

Regional Banks

Daily Volume: ₹10 crore

Settlement Float: ₹30 crore

₹24,160.34/day
₹8,818,522.81 annually

Large Commercial Banks

Daily Volume: ₹100 crore

Settlement Float: ₹300 crore

₹241,603.36/day
₹88,185,228.13 annually

Global Investment Banks

Daily Volume: ₹1,000 crore

Settlement Float: ₹3,000 crore

₹2,416,033.65/day
₹881,852,281.26 annually

Central Banks & Sovereigns

Daily Volume: ₹5,000 crore

Settlement Float: ₹15,000 crore

₹12,080,168.24/day
₹4,409,261,406.28 annually

Settlement Float Calculation

Settlement Float = Daily Volume × 3 days (amount always tied up in pipeline)

Daily Opportunity Cost = Settlement Float × 0.0080534% (weighted average daily rate across 20 major currencies, translated to INR)

Additional Benefits of Instant Settlement

Beyond opportunity cost savings, instant settlement reduces operational risk, improves liquidity management, and lowers counterparty settlement risk. The total monthly interest earning potential across all currencies shown is ₹218,437,582.56 on ₹89,173,131,818.39, representing significant working-capital optimisation potential.