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Customers looking for forex rates have to constantly struggle to find the actual Indonesian Rupiah rates today in Muzaffarpur. Unlike other websites that provide only the interbank rate or base rate, BookMyForex now provides live and real time Indonesian Rupiah exchange rates today in Muzaffarpur. So customers can either buy forex at live rates or select the 'Freeze the rate' option on our website to lock-in the Indonesian Rupiah exchange rates today in Muzaffarpur and exchange their currency at that rate within three days. We also offer other forex related products that include IDR currency notes, IDR forex cards, IDR traveler's cheques, as well as money transfer and remittance services through IDR wire transfers and IDR demand drafts. Customers can visit one of our channel partner locations to collect their orders.
While BookMyForex's charges are based on live rates, other currency exchangers base their charges on 'daily rates' or 'today's IDR rate in Muzaffarpur' which are much higher. Charging 'today's IDR rate in Muzaffarpur' provides a cushioning effect to avoid incurring losses due to IDR price fluctuation in the market because just like stocks IDRs are also traded electronically across the globe like any other financial security. Customers are simply being taken for a ride and exploited, when foreign exchange dealers base their forex rates on 'today's IDR rate in Muzaffarpur'. Little do customers know that in the the name of 'today's IDR rate in Muzaffarpur', the rates charged by the currency exchanger are higher because they have to protect themselves from any losses owing to IDR price fluctuation on account of the IDR being traded globally just 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 IDR rate in Muzaffarpur' therefore, is just a means to exploit the customer.
The very purpose of setting up BookMyForex was to tackle the challenges of a disorganized forex market such as the widely fluctuating prices and lack of uniformity in forex products and regulations in India. Having successfully established and run the Foreign Exchange division at some of India's leading banks, Mr. Sudarshan Motwani, our CEO, took the challenge head-on. Our services are already available across India on our website.
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