BRL – INR Currency Conversion
Are you planning to visit Brazil this year and looking out for Brazilian currency? Well, Brazilian Real is the official currency of Brazil and you can convert Indian Rupee to Brazilian Real or BRL to INR in India from various places such as banks, local money changers or airports itself.
However, buying Brazilian real from the places mentioned above involves visiting bank branches multiple times, going through an opaque and complex process of documentation and pricing and finally ending up paying higher currency conversion charges.Â
BookMyForex is the online marketplace for currency conversion and foreign exchange related services. Now, rather than making numerous branch visits and enquiring about best Brazilian Real Rate and other currency conversion charges, you can place your forex order online at BookMyForex and that too at minimum charges.
A Comparative Analysis Between BookMyForex and Other Money Changers:
|
Parameter
|
BookMyForex
|
Banks/Money Changers
|
|
Exchange Rate
|
At Live Rates (Dynamic)
|
At Fixed Rates
|
|
Exchange Rate Margin
|
Low
|
High
|
|
Online Order Facility
|
Yes
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No
|
|
Doorstep Delivery
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Yes
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No
|
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Rate Alert Feature
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Yes
|
No
|
|
Branch Visit
|
No
|
Required
|
How to Convert BRL to INR at BookMyForex?
Why BookMyForex provides the best rates for BRL to INR conversion?
- Fixed vs Live Rates: Almost all of the currency exchange institution such as banks and local money changers provide Brazilian Real at fixed rates for the day. Since the currency exchange rate market in India is highly volatile, these institutions keep higher margins over the interbank rate to tread against the market volatility. Higher margin simply means a higher cost to the consumer. Instead of fixing the exchange rate, BookMyForex allows you to book your forex at live rates and passes the cost-benefit to the customer. For example, if you want to load or reload prepaid forex card to convert INR to BRL, you can do it at exact interbank rates (zero margin rates) at BookMyForex. Also Read: To Know More About Best Forex Cards in India
- Individual vs Aggregator: If you want to sell/purchase Brazilian Real from offline stores at best rates, you need to go for stores hopping from one place to other. In order to provide convenience to collects the data from all the nearby money changers compares it and provides you with the best rate available to purchase/sell Brazilian Reals. So the customer can save the shoe and leather cost involved with store hoping.
- 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.
Benefits of Placing Your Currency Exchange Order at BookMyForex
Documents Required to Buy Brazilian Real (INR to BRL) in India
As per the guidelines released by the Reserve Bank of India, the following documents are required to buy/sell Brazilian Rupee or convert BRL to INR:
- Passport
- Visa
- Air Ticket
- PAN Card
Note: In order to ensure convenience to its customer, BookMyForex provides the facility to its customers to upload mandated documents online from the comfort of their homes.
