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For decades, banks and brokers have used hidden fees to overcharge consumers on international transfers and travel money.
Some of the Examples Factor Influencing Currency Exchange Rate:
Changes in market inflation cause changes in currency exchange rates. A country with a lower inflation rate than others will see an appreciation in the value of its currency. The Prices of goods and services increase at slower rate where the inflammation is low.
Changes in interest rate affect currency value and dollar exchange rate.Forex rates,interest rates and inflation are all correlated.Increase in interest rate cause a country’s currency to appreciate because higher interest rate provide higher rate to lenders,thereby attracting more foreign capital ,which cause a rise in exchange rate.
Government debt is public debt or national debt owned by the central government. A country with government debt is less likely to acquire foreign capital, leading to inflation. Foreign investors will sell their bonds in the open market if the market predicts government debt within a certain country. As a result, a decrease in the value of its exchange rate will follow.
BookMyForex.comintroduces City Wise Rates across All Cities in India. Thanks to this new development you can now see the best rates across all forex products in any city in India in real time. We’re now able to source exchange rates from hundreds of currency exchange and banking locations in every city and automatically show you the best live exchange rate in your area.
You can even freeze the best live rates in your city, set a rate alert for the best rate in your city and get all that BookMyForex goodness that you’re used to otherwise.
Products & Services :
Multi-Currency Travel Money Cards: Stop paying the exorbitant exchange rates that your international debit/ credit cards charge. Unlike your debit/ credit cards, which levy a surcharge of 2.5% - 3.5%, our Prepaid Multicurrency forex cards let you exchange currency absolutely for free i.e. at exact interbank rates
Foreign Currency notes (Cash):Currency notes are regular paper cash. Although most popular, their use is declining as carrying cash is the most unsafe. Currency notes are totally unprotected against loss and counterfeits.
Wire Transfer (TT):Wire Transfers are also a very common method of remitting money overseas. Using this method, funds can be transferred electronically to a foreign bank account.
Easy Reloads/Unloads:Reload your Forex Card remotely. Exchange the remaining balance on your card for INR once you return
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