Why BookMyForex provides a better exchange rate to convert INR to BDT?
Have you ever wondered about how BookMyForex manages to provide better foreign exchange rates than other players in the market? Well, Here is how!
- Fixed-Rate vs Live Rate Bookings: Banks and other authorized money changers have inherent fixed costs involved with their physical setups which they recover by charging their customers higher fixed rates. While BookMyForex passes the cost-benefit to the customer by providing currency exchange at dynamic rates.
- Individual vs Aggregator: If you want to sell/purchase Bangladeshi Taka (BDT) from offline stores at the best rates, you need to go on store-hopping. In order to provide convenience to its customers, BookMyForex collects the data from all the nearby money changers, compares it and provides you with the best rate available to convert INR to BDT. So the customer can save on the shoe and leather cost.
- Institutional Costs: Most of the money changers in India have an institutional setup at the physical level which involves various kinds of fixed costs such as rent, salaries and other operating costs. The simple rule of economics tells us that all of these costs are ultimately borne by the customer in the form of higher fee and purchase price.
Being a digitally enabled platform, BookMyForex saves that cost and passes that benefit to the customers in the form of lower fees and charges.
How to buy/sell Bangladeshi Taka or convert BDT to INR?
Step 1: Search online and visit various platforms that provide the BDT rates in or simply visit BookMyForex’s website to get the best rates possible.
Step 2: Now make a comparison between the Bangladeshi Taka rates offered by various players in foreign exchange retail. Choose the one that gives the best rates and book your order.
Step 3: Submit all your KYC documents and make the payment to your chosen retailer.
Step 4: Everything is done! It’s so simple. Now you can collect the currency the store or can request BookMyForex for doorstep delivery.
You can compare and check online that BookMyForex provides the most genuine rates for foreign currency exchange apt service quality. We do not charge any extra amount for converting the currency other than government taxes.
Benefits of Buying/Selling Foreign Exchange from BookMyForex
Q1. How long does it take to provide doorstep delivery with BookMyForex?
Ans. Orders received prior to 1 PM are delivered on the same business day. Any order received after 1 PM may still be delivered on the same business day but in the worst case, BookMyForex guarantees delivery on the next business day.
Q2. What is the foreign exchange entitlement limit for business travel?
Ans. As per the Liberalized Remittance Scheme (LRS), a person is entitled to foreign exchange upto 2.5 lakh US dollar or equivalent in a financial year irrespective of the number of visits and the period of stay. Within the US $ 2.5 lakh limit, up to 3,000 US dollars or equivalent per visit are allowed to be carried in the form of currency notes(cash).
About BookMyForex:
Foreign exchange market in India is highly regulated and very much disorganized because of which customers looking for foreign exchange either have to go through a complex process to forex in India or fall into the trap of black marketers.
Mr Sudarshan Motwani, who has previously headed foreign exchange function at some of the leading banks in India, established BookMyForex in 2012 to address these issues and streamline the forex business in the country. BookMyForex was established on the premises to resolve the woes of people looking for foreign exchange related products in India.
