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Customers will no longer have to struggle to find the actual Australian Dollar exchange rates today in Lucknow. This is because most of the rates you see online are just interbank or base rates, which aren’t actual currency exchange rates. But now live and real time Australian Dollar exchange rates today in Lucknow are available 24*7 on BookMyForex’s website for all to see. So customers can either buy forex at live rates or select the “Freeze the rate” option on our website to lock-in the Australian Dollar exchange rates today in Lucknow and exchange their currency at that rate within three days. We also offer other forex related products that include AUD currency notes, AUD forex cards, AUD traveler’s cheques, as well as money transfer and remittance services through AUD wire transfers and AUD demand drafts. Orders are delivered at our own branches or at the branches of our banking partners – ING Vysya bank and Axis bank.
While BookMyForex’s charges are based on live rates, other currency exchangers base their charges on ‘daily rates’ or “today’s AUD rate in Lucknow” which are much higher. Charging “today’s AUD rate in Lucknow” provides a cushioning effect to avoid incurring losses due to AUD price fluctuation in the market because just like stocks AUDs are also traded electronically across the globe like any other financial security. Unlike other foreign exchange dealers that exploit customers by basing their charges on daily rates or “today’s AUD rate in Lucknow”, BookMyForex’s offerings are more customer-oriented in terms of price and convenience. The norm of “today’s AUD rate in Lucknow” for basing forex rates only benefits the currency exchangers and earns them higher revenues. Because the AUD is traded across the world electronically just like stocks, its prices also fluctuate. To protect themselves from any losses on account of price fluctuation, currency exchangers keep higher margins and therefore their rates are higher. “Today’s AUD rate in Lucknow” therefore, is just a means to exploit the customer.
The foreign exchange market in India is fairly disorganized and there are several loopholes in the policies governing the market. Mr. Sudarshan Motwani, our CEO, who was earlier heading the foreign exchange division in HDFC Bank and ING Vysya bank, had established BookMyForex with a vision to revolutionize the forex market and make it more streamlined. Our services are already available across India.
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