telegraphic transfer selling rate; TTS
A financial term used in foreign exchange: the rate at which a bank sells foreign currency to a customer via telegraphic transfer. Often abbreviated as TTS.
When you buy foreign currency at a bank, the telegraphic transfer selling rate is applied.
What is today's TTS rate for dollars?
Compound of 電信 (telegraph) + 売 (sell) + 相場 (market price/rate). The term originates from the practice of quoting foreign exchange rates for telegraphic transfers.