TT buys are electronic International Money Transfers
Forfaiting, also called bill buy-up or bill buy-out, is a kind of trade financing that Bank , as the buyer-up, purchases without recourse from the exporter the accepted usance draft so as to provide finance to the exporter.
TTS rate
An abbreviation of Telegraphic Transfer Selling rate. The foreign exchange authorized banks are required to quote their selling rates of foreign currencies every day. The customers can buy the foreign currencies in cash using these rates. In case of US dollar, the TTS rate is one Japanese Yen higher than the Nakane-rate which is fixed at 0955 JST. In former days, Telex has been used for prompt transfer overseas, and then, the forex rate is called as TT(=Telegraphic Transfer) even now.Thats what I could gather for now
