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— Oscar Wilde.
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Impact Of Crude Oil Prices On Currency Exchange Rates
Among other things, the oil industry is also hit by the coronavirus outbreak in a bigger manner than most realize, which in turn is having a major impact on the Indian currency rate. The impact of crude oil on currency is so massive that the rupee which had opened on 72.09 on 2nd March fell to a record low of 74.5075 recently, a loss of over INR 2 in this month itself. But how can the rupee get a major hit due to crude oil prices? And the bigger question is how to make up for the losses when going for money exchange? The simple answer is to book currency exchange with BookMyForex
Starting with the bigger question:
If you’re looking for foreign currency exchange at this time when the rupee is plunging, look no further than BookMyForex. On this platform, you get the ability to lock-in the rate at its lowest and keep it locked for as much as 3 days at a nominal and refundable price. Even if you decide to go for the live rate. The site has 100s of channel partners and offers you the best forex rates quoted among them. This RBI authorized firm has many testimonials and positive reviews to its credit, making it one of the most trusted and reputed places for your foreign exchange needs.
Coming now to the other important question, how did rupee take a major hit due to crude oil prices:
The virus that led to economic instability globally also forced the demand of crude oil down in the market. This isn’t all. As an aftermath of Saudi-Russia war over crude oil, Saudi slashed the oil prices sharply, driving down the oil prices further. From $50 a barrel, the oil trade price has now plunged to around $30 a barrel.
The sudden and unexpected drop in oil prices has led some nations like India to leverage the situation. The domestic oil firms here immediately limited their medium-term requirement by buying in the future oil markets. While also covering their corresponding dollar need in the domestic spot markets to be completely hedged, which led to a rise in their dollar demand. The rise in dollar demand also led to the demand for FPI (Foreign Portfolio Investment) repatriating their funds, thereby making for a large dollar deficit in the dollar supply in the domestic market. Consequently, the rupee fell sharply. The sharp price drop in oil has thus proven to be a boon for the Indian authorities and domestic oil firms. Not so much for the value of rupee though.
RBI is now acting to ease out the dollar deficit in the markets by selling dollars in the spot markets. However, if the FPI’s keep selling in the equity markets and repatriate the money and oil companies to limit their crude requirements as prices fall, RBI will have to be more aggressive. As of now RBI has a large forex reserve and enough power to support the rupee against this speculative and commercial dollar demand.
Guide To A Budget Trip To Dubai This Summer
When you think about Dubai, what is the first thing that comes to your mind? For me it’s always the enchanting seaside spectacle alongside its huge coastline. Dubai’s pristine beaches with its bewitching scenery are natural marvels that tranquil your mind and uplift your spirit. However, to reach these palm-laced beauties, one needs to have all other things in place. The most essential part is arranging for its currency—Dirham. If you’re travelling to Dubai on budget, first things first, checkout the dirham rate on BookMyForex. Why? To take the first step in making your trip economical. Read along:
Get Forex in Advance
It’s always better to buy dirhams at live rates from a reliable forex firm. It’s not really a challenge if you’re talking to the right people who are well-informed and can guide you about today’s Dirham rate. Connect with a firm that is RBI authorized and has good reviews to its name. BookMyForex is one such firm where you can get forex in all forms, namely currency notes, travel forex card, wire transfer, demand draft. With a BookMyForex travel card, you can save on foreign conversion fees. It’ll help you save up to 0.5%-2.5% more than currency notes and 3.5-6.5% more than credit cards from banks. Getting forex in advance will help you avoid losses due to fluctuation in forex rates.
Dubai is a symbol of luxury. Therefore, travelling here on budget is slightly challenging but you can accomplish this if you follow these simple tips.
Where to Stay in Dubai?
Dubai is segregated in various districts but you should be particularly familiar with these ones: Downtown Dubai, where you’ll find the iconic Burj Khalifa. Dubai Marina, Jumeirah Beach, Al Barsha, Bur Dubai, and Deira are other prominent places. Among these, Bur Dubai and Deira may offer options that are within your spending range if you’re on a budget. Here you might find a double room at a superior hotel under USD 100/night, which in contrast to USD 400 to 1k in expensive locations, will save you quite a lot. Alternatively, you can also stay in a hostel which will cost you around USD 20-30/ night, although there are very few around the city.
For Travelling Around the City
Dubai has an advanced transportation system including metro, usual taxi service, and several other ride-sharing options. Get an NOL card to enjoy easy access to Dubai’s public transportation such as metro, buses, trams, and ferry. Among the four cards available, red, silver, blue, and gold, the red ticket is most suitable for the tourists. Its initial cost is AED 2, which can be reloaded for 10 single journeys. However, it can be used for one mode of transportation at a time, like metro or bus. Purchase a pass if you would like to use public transportation multiple times a day. The minimum fare of a taxi is AED 12. You can also take a HOHO bus to cover the most visited sightseeing spots.
Other tips to cut down cost
- Find cheaper options for food at Asian restaurants like Shawarma, sandwiches, manakish that are quite inexpensive compared to dining in lavish restaurants.
- Hit supermarkets or convenience stores for inexpensive packed meals and other basic items of necessity.
- Form a group with other people to share taxi fares and food costs.
- You can also find a place with a kitchen to prepare your meals instead of eating out all the time.
- Rent a hotel that is situated close to the metro, so you need not take a cab everytime.
Buy forex online and in advance from firms that allow you to lock in the current rate, so you can trade at a profitable price. Online exchange firms like BookMyForex.com have such a scheme, and offer much better rates than banks and airport stores.
Here’s What You Can Do With Your Leftover Foreign Currency
Has your beautiful sojourn finally come to an end? And among other things, you are left with a pocket full of foreign currency. But as much as you would like to store it along with other memorabilia, we recommend getting it exchanged from an RBI authorized firm as soon as possible.
As you know rupee is on a falling streak, and if you delay, the fluctuation might return a lesser amount later than you could get now. You can sell forex on BookMyForex for a profitable trade. Here’s how to exchange forex on good rates:
Get Best Money Exchange Rate
It’s always a good idea to deal in foreign exchange with a reputed firm that has good repo and reviews to its name. The firm should offer better exchange rates than airport stores and banks. BookMyForex is one such firm that deals in leftover currency online. You can also get home delivery from here, that too at live rates. Keep in mind that airport stores swap currencies at the worst rates, so don’t go for it unless it’s an emergency. With banks, you risk paying substantial service fees and other hidden charges.
If the amount is less, namely, a handful of currency notes and coins, then there are plenty of other ways to put that money to good use. Read along:
Gift it to Friends or Relatives
You can always share your leftover currency with a friend or some relative who is fond of collecting foreign currency notes and coins. Or geography teachers who can use it for their lessons. Ask around if any of your nieces, nephews, or neighbours love to collect currencies. Then create a gift pack with it; a small memento for them along with other souvenirs from the same place.
Be Artistic
Leftover coins are a great way to bring out your inner artist. You can make unique earrings or necklace using coins. Or might as well decorate a photo frame with them and put a travel picture of the same destination as the currency to make grand memorabilia for your show window.
Save it for Next Time
Here’s what frequent travellers can do: Make a box full of leftover currencies, and whenever you take the next trip to the same nation, dig through the box and see what you are left with to spend. It’ll help you save some local currency for taxi fares and tips. This way you won’t have to run to the ATM for little amounts.
More About BookMyForex
Going home with too much currency may seem wasteful. But it happens all the time when people overestimate the amount of foreign currency they’ll need. We understand that at such times you should ask yourself, “which is the best money exchange near me?” Trust BookMyForex to sell or buy forex online. It’s an RBI authorized firm. Plus, in terms of overall cost, experience, and convenience, it scores much better over banks and local money changers.
What Are The Best Foreign Currency Exchange Options In India?
Whether you want to buy forex for leisure, education, or business, one time or on a more frequent basis, it’s essential to understand how to get the best rates and make the most of your money. Gaining complete insight into foreign exchange is paramount to carry out this tedious task.
So if you’re dealing in forex for the first time, then this is a must-read for you. Quite evidently, you must be searching online about “currency exchange” and options for “foreign exchange near me”. Let us help you a bit. First things first, make sure you understand all the advantages and disadvantages of major currency exchangers in India, so you don’t fall prey to any unforeseen charges.
You can search for buy forex online on BookMyForex if you’re looking to save time and exchange currency from an RBI authorized firm. But why BookMyForex in particular? Read ahead.
Here we present to you the complete guide explaining the various money exchange options in India, which will help you take the right call for your forex need.
Airport Kiosks and Foreign Exchange Desks
We would like to remind you that the easiest looking option for foreign exchange may not be the best one. One such place for money exchange is right at the airport. The airport authorities know that travellers who visit them for exchange mostly are in need of forex urgently. Hence, they offer much rate higher compared to exchange firms and banks. As per NBC News, airport kiosks can also charge up to 20% extra fees compared to other companies. Hence, it’s advisable to plan ahead. Buy or sell forex early and make sure that you connect with a trusted firm.
Private Money Exchange Companies
Many people are unaware of the volatile nature of forex rates. The fluctuation may cause you to incur losses while exchanging money. However, only reliable firms can guarantee live rates. You can buy forex online on BookMyForex, where you can get hold of real-time rates and lock down the price that you feel will lead to a profitable deal. Why do we recommend BookMyForex over other private exchange firms? Because it is RBI authorized and associated with money changers throughout India. They will not fleece you with unprofitable static rates, rather you’ll get best foreign exchange rates on BookMyForex.com in a wide range of currencies. In addition, you can place the order from your home or office and get doorstep delivery.
Exchange Foreign Currency in Indian Banks
Requesting currency exchange in banks is commonplace. But banks offer currency exchange on a service fee. Plus, there are other hidden charges involved. Moreover, the exchange rate offered by banks is not updated either. Buying and selling forex is not their primary business but a side service they provide. Therefore, offering attractive rates is not their first priority, unlike money exchange firms.
So these are the primary currency exchange options in India. While we were discussing how to avoid losing money on forex at home, we missed abroad. Here we thought of sharing a few tips on how to avoid exorbitant forex fees when you’re travelling outside India.
Be Careful When Resorting to Credit Cards
Planning to rely on your credit card while you’re abroad? First, find out if it works internationally. If so, find out the fees that are applicable to it. Usually, it varies from card to card. It can include currency exchange fees, transaction fees, service charges, etc. Overall, they offer you an exchange rate close to the official rate but it’s still unprofitable, thanks to these charges and fees.
International Forex Cards are your Friend
Get a travel forex card while visiting abroad. They work everywhere including stores, online, and ATM and have additional card benefits. Plus, they are cheaper than credit and debit cards. These cards are preloaded with the amount of forex you want and some even carry the option of carrying multiple currencies.
Say Yes to Local Currency
Rather paying in foreign currency abroad, always pay in their domestic currency. It will help you avoid any hidden transactions and conversion fees that may amount to much more than what you would pay in local currency.
Here’s An Easy Ways To Exchange Currency In Bangalore
What is the first thing that you look for when buying or selling foreign exchange? For many of us, it’s always a reputed firm offering highly competitive exchange rates. And if you’re planning to head abroad with that money from Bangalore, there are so many other related questions worth scrutinizing. Which is the most trustworthy firm for Forex exchange in Bangalore? How much forex to carry? How to carry it? And more. In this article, we will try to answer some such relevant questions.
Which is the most trusted firm for forex exchange in Bangalore?
Our recommendation is BookMyForex.com. To start with, it’s an RBI authorized firm. It offers money exchange services not just in Bangalore, but all over India. It has a reputed name in the market and great testimonials to its credit. Big marketplaces like BookMyForex have tie-ups with multiple banks and money exchangers to whom they give orders in bulk. So the channel partners quote lesser rates in return. The dashboard then compares and displays the competitive rates, in addition to service quality metrics across hundreds of banks and firms for each product in real-time. The customer is then connected to the most ideal forex vendor. With BookMyForex, you can be assured to get the best forex rates that are accurate up to the last second.
How to get the best forex deal when planning a trip?
At firms like BookMyForex, you have the freedom to lock-in the best rates that you think will lead to a profitable exchange. Don’t forget that rupee is on a falling streak and even a small fluctuation can make a big dent in your holiday budget.
How to carry forex?
There are a number of ways in which you can carry forex – prepaid travel cards, currency notes, plastic money in the form of travel card, debit and credit cards or travellers cheques. Using just cash is not advisable. Remember to browse for the best deals on forex cards online or currency exchange in Bangalore.
Why should you carry a travel card instead of a credit card when travelling abroad?
Using a domestic credit card can be far more expensive than carrying a forex travel card. Here’s why?
No Foreign Transaction Fees Applied in Forex Card– Your credit card is designed to support the currency of the country it has been issued in or domestically. When you go abroad and swipe it to withdraw cash in some other currency, your bank applies foreign transaction fee on it. This fee varies in different banks and is generally around 3-3.5% of the transaction amount. However, in a forex card no such forex card is applied.
Control over Exchange Rates Applied – While in forex cards, Indian currency is changed into foreign at the time when you buy them, therefore, you can control the rate of foreign currency that’s fixed in case of a credit card. In a credit card, the rates are applied when the transaction takes place and you have no control over it. Due to rate volatility, your entire holiday budget can mess up. Plus, international debit/credit card issuing banks additional markup on foreign currency over foreign transaction fees. It means you can easily end up paying approx. 6%+ compared to the forex cards.
Avoid Late fee/ Interest Charges – You’re liable to pay late fee and high interest rates if you don’t pay your credit card bill in time. There is no such issue in case of a forex card, as it is preloaded with the currency.
How much forex to carry?
Plan wisely keeping your budget in mind. It’s advisable to take 20% forex in cash and 80% in a travel card. Do some relevant research on the accommodation, transportation, food, and general expenses of the destination you’re heading to for a rough estimate. Look for the best deals and make early bookings to avoid last-minute hassles and fare hikes. Buy forex well in advance to avoid getting a higher money exchange rate in Bangalore. Some firms like BookMyForex.com offer a doorstep delivery for a trouble-free experience.
How Much Canadian Dollars You Need To Carry For A 10-Day Trip To Canada?
Canada is easily any traveler’s paradise. It’s vast and versatile with acres of beauty stretched across endlessly in the purest of forms. It has spell-binding snow-clad mountains, shimmering glacial lakes, pristine shorelines, gigantic national parks, and astounding historical monuments. What’s not to love? However, the high costs involved and Canadian dollar rate today is enough to make you apprehensive when planning a trip to this relatively expensive travel destination.
Finding out how much money you need for your trip to Canada is a key step in planning your vacation. Canada is huge (a lot to travel between places) and its budget should cover many must-visit and must-do lists to make it memorable. So as a first step, budget it in the smartest way possible.
First and foremost, make sure that you buy forex from an online place that is trusted and offers foreign exchange at live rates. When you search online to “buy CAD” or “currency exchange in Delhi”, the internet will show you many choices, leaving you baffled. The Canadian dollar rate or any other currency’s rate is dependent on several factors and changes quickly. Sometimes even in seconds, which can make a big difference to your budget. Consider an online platform like BookMyForex.com for buying forex.
Here’s why:
- It’s an RBI recognized firm that provides live market rates up to the last second.
- Get a better value for your money compared to hundreds of banks and money changers around you. Save 2.5% to 6% over banks and money changers. Save 3.5% to 6% over international debit and credit cards. Save 6.5% to 13% over airport exchange counters.
- Lock in the current rate for as much as 3 days for a more profitable exchange.
- Get doorstep delivery on the same day or the next day of booking.
- They offer proactive customer service and have multiple testimonials to their credit.
Like other countries, Canada too offers a range of experiences.
Budget travellers should look at spending $100 to $125 per day. It can include camping, hostel, dorm or inexpensive hotels, food from supermarkets, fast food joints, public transportation, and limited attractions.
Midrange travellers should plan at spending between $100 and $250.
And if you can afford extravagance, go for high-end hotels or resorts, meals, and attractions. The budget for a lavish spender starts from $250 per day.
Coming to essentials:
Hotel Expenses: Economical vs Luxury
It’s your decision to stay in a five-star hotel or a hostel. Or there is another option that is exciting for both penny pinchers and lavish spenders — camping. It’s not only easy on your pockets but offers a chance to encounter Canada’s mesmerizing landscapes up close.
While motels outside major cities come under $100 per night, vacation rentals are greatly priced. However, they offer a great way to save on meals, parking, wi-fi, and other such expenses.
Cost saving accommodations including hostels, university dorms, motels, campgrounds, and budget hotels (2-star) are excellent money savers and sometimes include breakfast as well. These places may cost you anywhere between $25-$100 per night.
Mid-range hotels serving breakfast (3 or 4 star) might run in the range of $100 to $250 depending on major cities and smaller towns.
Luxury resorts and hotels (4 or 5 star) can come in the range from $200 to $500+.They may or may not serve breakfast. But many of the resorts do include at least one meal.
Do remember that around 18% taxes are added to your hotel bill, so a $200 bill can actually come close to $240.
Transportation Expenses: Quite Steep for Budget Travellers
Road trip lovers, Canada is going to excite you the most. Most people visiting here rent a car as it offers flexibility because transportation cost tends to be high. Given the country is so large, making your way across it can incur high airfares, gas, or train tickets. Cost to rent a car per day in Canada can come between $35 to $70.
One side airfare from Toronto to Vancouver can come between $220 to $700. Buses are definitely the cheapest mode to travel long distances. They have wifi and fare can be as low as just a few dollars.
Food and Drinks: Taxes and Tips can Weigh on the Pocket
In Canada, a significant % tax is added to the restaurant bills, which is not included in the prices listed on the menu. Open-air fresh markets and supermarkets allow you to save on dining costs. Breakfast at a diner may cost you around $10-$15. Dinner for two + wine at fine dining will incur around $200+. In addition, tipping is customary here.
Attraction and Entertainment: A Pass in Major Cities can Save the Day
The average cost to visit a typical museum in Canada can be around $12 to $22. Canada’s Wonderland theme park ticket is around $40 -$50 and Whale watching excursion $100 to $150. Adult ski pass for one day at Whistler: $100 to $150. Get an attractions pass that is available in many of the major cities. It will save you money if you visit a certain number of attractions within a few days.
Keep in mind that taxes will be incurred on many of your purchases in Canada like hotel stay, dining, clothing, etc. These taxes can add up a considerable amount to your bill. Plus, tipping is customary on services ranging from hairdressers, restaurants, bars, etc .
For most visitors to Canada, our first advice is to buy CAD from BookMyForex instead of banks that levy hidden charges. It’s great if you buy forex online and well in advance. Check if Canadian dollar rate is suitable today, if not wait for the right time and book your order before the rate shoots up.
Here’s Why Forex vs Card Should Be The Only Card You Use Abroad To Transact
The most concerning question that bothers most individuals is how they are going to transact abroad and take care of their travel expenses. International travel cards come with heavy mark-up fees and additional transactional charges. Whereas the same is not true for forex travel cards as they are already preloaded with foreign currency and hence, they are highly economical. In fact, customers who buy forex card online on Bookmyforex.com can save as much as 6% over international credit cards while traveling abroad.
More importantly, it is always preferable to purchase your prepaid forex card online beforehand at the time of planning your trip. It is so because the forex card requires up to 1-3 working days to get fully loaded with the currency of the destination country which you are going to visit shortly. Continue reading to find out why a forex card is much better than a debit card so that you can make the right choice and maximize savings without any hassle.
Top 3 reasons why forex card is a better alternative to credit card
When it comes to choosing between a credit card and forex card online, the decision should only be finalized after indulging in careful consideration. Here are the top 3 reasons that give forex cards a notable edge over international credit cards.
- Highly cost-effective:
The best part about prepaid travel forex cards is that they are highly cost-effective as compared to international credit cards. Customers that select platforms like Bookmyforex.com always get the best forex card rates and they only have to bear the issuance charges. However, purchasing a credit card for international travel requires one to pay the joining fees, renewal charges etc.
- Protection against currency fluctuations:
When you transact with your international credit card in a foreign country, you may have to pay extra owing to currency fluctuations which result from the prevailing economic instability. The most major advantage of buying a forex card online is that you get to reap the benefits of locked-in exchange rates. This way prepaid forex cards keep you protected from currency fluctuations and thus, you are not prone to rate volatility at all.
- Secure and convenient:
It is an undeniable fact that prepaid forex cards have emerged as the most recommended way of transacting overseas as they are highly secure. Since forex travel cards we pin-protected, they can only be utilized by authorized users. Bookmyforex.com provides customers with the best forex card which features customizable spending limits, unlike most international credit cards. The prepaid travel cards can also be replaced in case they get stolen or lost. Moreover, they can easily be reloaded with foreign currency at any given time of the day.
The majority of people often struggle to get an answer to this most frequently asked question – how do I know who is the most trusted provider of forex exchange near me? Sanctioned by RBI, Bookmyforex.com is the world’s largest foreign exchange marketplace and it has successfully fulfilled the needs of more than 3 lakh customers. So, see to it that you connect with a trusted platform like Bookmyforex.com to get the best forex card deals to save big..
Get Your Currency Exchange In Delhi Online With BookMyForex
Are you planning to travel abroad on a family trip? Do you need to make an emergency cash remittance abroad to a relative? Do you need a money changer in delhi to exchange currency for paying educational fees in a university you applied for? Well, reasons can be many but the exchange of currency is easier with options available today.
Banks offer you a fixed rate of exchange on currency and you also have to pay a nominal fee for the exchange. Most people still take the traditional route for exchange and go to Moneychangers. Moneychangers offer you a constant exchange rate, unlike online sites. If you stay in Delhi, then the currency exchange in delhi is now even easier.
Currency exchange in Delhi – Online option
If you are thinking ‘How to exchange currency in Delhi, then the easiest way to exchange is through online sites today. A site like Bookmyforex.com offers currency rates that are better than bank rates and moneychangers. You’ll get the benefit of live market rates on exchange. The site lets you choose a rate and lock the rate for three days.
By paying an upfront fee of 2%, you’ll be able to use the locked rate for three days. Book your rate at the same price as shown on the site. The live market rates are updated every three seconds. With an online forex exchange advantage, you can get the best possible deal on the exchange.
Best rate advantage
Currency exchange rates in Delhi fluctuate according to market conditions. But, Forex rates do play a big role in the conversion of currency. If the rates are low, you’ll get the benefit of the best exchange and it will also save your money. Foreign currency exchange rates in Delhi offer the best deals online.
Bookmyforex.com offers you a fair rate advantage. You can choose a rate and order your money by making an online payment. By logging on to the site, you’ll be able to choose the best rate and get your currency exchanged. The best part is the rate alert feature lets you know about your desired rate. Upon setting your rate, you can choose to convert the currency you need.
No added costs
Banks offer you rates that are constant and you’ll have to pay added fees on the exchange. Currency exchange in Delhi with Bookmyforex.com gives you the advantage of no added costs. When you exchange or convert your currency, you will not have to pay added fees unlike what banks and money changers offer you.
The best part is there is no hidden fee for conversion. You can exchange currency in Delhi at exact interbank rates as well. Bookmyforex.com helps to save your effort and added costs. Currency exchange rates in Delhi are offered best on online site like Bookmyforex.com. So take advantage of it the next time you need to exchange your currency.
At different locations near you
A site like Bookmyforex.com offers you delivery convenience. As it offers money exchange in different locations, you don’t have to worry about delivery. You can make an online booking for exchange and get it delivered at your location. The site lets you avail 24/7 booking, so you can book your exchange at any time of the day, the delivery to the location is normally within a day. If you order before noon, then you can also avail the same day delivery for the exchange.
The flexibility,
Online Forex site like Bookmyforex.com gives you flexibility in exchange for currency. As it has a tie-up with different banks and moneychangers, you can get the best rates and deals. The site also delivers to different locations of Delhi. Booking an exchange order online is easier than you think.
You just have to choose a rate and provide your basic documents to the site. Once your order is booked effectively, the exchange currency will be delivered at your location in Delhi. Currency exchange in Delhi is now possible with a click, so do use the service.
Everything You Need to Know to Acquire the Best Canadian Dollar Rate Today
In the past few years, the diplomatic relationship between Canada and India has strengthened to a significant extent. Also, a lot of Indians happen to move Canada in search of better employment opportunities, higher education, and better market options for business objectives. Whatever your reason is, read along and you might get some useful advice on acquiring better deals for canadian dollar rate today.
The reality of Canadian dollar rate today
Exchange rates are volatile. They are never static and keep fluctuating from time to time. The rates recorded for canada dollar rate today might differ from what was recorded previously . This is because the valuation of a currency is directly and indirectly dependent on several factors. The most important ones include interest rates, inflation rates, trade relations between countries, recession or economic slowdown, and lastly the various speculations doing the rounds in the forex market. None of these can be side-lined as they can affect the currency rates at a level an amateur forex trader might not relate with.
The internet is full of information. Thus, you should always research and choose the data that serves your purpose directly. The two most reliable ways of getting hold of foreign currency includes a) approaching a local bank that offers foreign currency exchange services; b) going online and registering with a reputable online money changer like BookMyForex.
Though you can buy forex from the nearest bank or a local exchange vendor, there is a very good chance that you might be offered static values for Canadian dollar rate. Banks have a tendency to carry out such practices so that they can keep a good margin for themselves and tackle unfavourable trends for the currency (if there is any) in the future. This situation can be avoided if you decide to go online.
Buying forex from a trusted source like BookMyForex will not only ensure better Canadian dollar rate but also ensure transparency at every step of the process.
Here’s a list of reasons as to why one should look for forex online:
- Banks usually offer fixed rates in the name of today’s currency rate which shouldn’t be done as the values for Canadian dollar rate keep changing every now and then.
- Online money vendors like BookMyforex use an advanced algorithm to compare rates with various other banks and credit-unions and eventually offer a rate that is most suitable for the buyer/seller.
- You can lock-in/freeze a forex rate that might meet your requirements effectively. When you complete a transaction, the prevailing exchange rate for Canadian dollar rate today gets locked-in and the foreign exchange gets delivered to you on that locked-in exchange rate, irrespective of how the forex rates behave thereafter.
- Uploading and verification of important documents is easy and less time consuming.
- You can also order a best forex card in India online with just the click of a button. Money changers like BookMyforex offer multi-currency forex cards that can be loaded with sixteen different currencies at a time.
BookMyForex is an established online money exchanger that offers a gamut of forex-based services to customers in India. From the forex card to liquid cash, you can place the order from your home, it will be delivered to your doorstep within the specified time. You can also avail demand-drafts, traveller’s cheque and wired money transfer. Above all, be assured of the guaranteed best rates from the comfort of your home.
Get the Best Results for the Current Rate of Dirham
Your trip to the Middle East is incomplete if you haven’t been to Dubai. And Dubai is synonymous with shopping, lavish food, sightseeing, and cultural events. Having a clear idea about the current rate of Dirham will help you plan your expenses beforehand and ensure a smooth travel experience. Read along if you wish to know more about the current market trends of AED (Arab Emirates dirham).
Dirham rate today
While interacting with banks and money changers, you might come across the term “Dirham rate today”. In layman terms, it is a fixed currency rate that banks and other money vendors use to convert AED to other foreign currency and vice versa. Truth to be told, foreign exchange rates are dynamic. They keep changing every day, and at times, every hour and every second. Money changers keep the static rates so that they can achieve a huge profit margin on underlying interbank rates and tackle any adverse changes that could happen in the future. What can one do to avoid this deception? Go online! If you look for the current rate of Dirham or Dirham rate today on a search engine, you might come across some reliable online money vendors like BookMyForex which happen to put real-time exchange rates on display.
Here’s a list of reasons you should look for forex online:
- Unlike banks, online vendors like BookMyForex do not impose hidden charges or demand high fees for the transactions undertaken abroad.
- Most online money changers offer their customers the benefit of placing the order online i.e. you can place your order from home and it will be delivered at your doorstep within the scheduled time. You do not have to go to any branch or office to collect your order.
- You are likely to find real-time Dirham rate today on a digitally-enabled platform. For instance, forex rate on BookMyForex are live and accurate up to the last instantaneous second. This is because the algorithm on the website scans through the quotes from different vendors in real time and automatically displays the best rate on offer at that point in time for your area.
- Uploading and verification of documents is relatively easy. In case you are stuck at something, you can approach the customer service team for help.
- At online platforms like BookMyForex, you have the provision to freeze/lock-in the current rate of Dirham by a nominal fee for a time span of three days.
- In addition to the conventional way of foreign currency exchange, most online money changers offer their customers other mediums of acquiring foreign currency such as the multi-currency forex card, demand draft, and traveller’s cheque.
BookMyForex offers the complete gamut of forex products including foreign cash, wire transfers, forex cards, traveler’s cheques etc. What is notable is that you can be assured of the guaranteed best forex rate on BookMyForex every time you make a transaction. Not only can you place your order anytime, anywhere but also enjoy free doorstep delivery of your order. Not to forget, there are no hidden charges on the transaction. So book your order hassle free and save too.
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