It is next to impossible for customers to find the actual Euro exchange rates today in Malerkotla especially on the Internet. Most websites on the net don't provide currency exchange rates but only the interbank or base rate. However, BookMyForex has made this easy for the customers because now they can log on to our website at any point in time to see the live and real time Euro exchange rates today in Malerkotla. So customers can either buy forex at live rates or select the 'Freeze the rate' option on our website to lock-in the Euro exchange rates today in Malerkotla and exchange their currency at that rate within three days. We also offer other forex related products that include EUR currency notes, EUR forex cards, EUR traveler's cheques, as well as money transfer and remittance services through EUR wire transfers and EUR demand drafts. Orders are delivered at our own branches or at the branches of our channel partners. Customers can even choose to have their order home-delivered.
Unlike other foreign exchange dealers that exploit customers by basing their charges on daily rates or 'today's EUR rate in Malerkotla', BookMyForex's offerings are more customer-oriented in terms of price and convenience. The norm of 'today's EUR rate in Malerkotla' for basing forex rates only benefits the currency exchangers and earns them higher revenues. Because the EUR is traded across the world electronically just like stocks, its prices also fluctuate. While BookMyForex's charges are based on live rates, other currency exchangers base their charges on 'daily rates' or 'today's EUR rate in Malerkotla' which are much higher. Charging 'today's EUR rate in Malerkotla' provides a cushioning effect to avoid incurring losses due to EUR price fluctuation in the market because just like stocks EURs are also traded electronically across the globe like any other financial security. To protect themselves from any losses on account of price fluctuation, currency exchangers keep higher margins and therefore their rates are higher. 'Today's EUR rate in Malerkotla' 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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