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It is next to impossible for customers to find the actual Japanese Yen exchange rates today in Verka especially on the Internet. This is because most websites only provide the base rate or the interbank rate on their websites. With BookMyForex now in the market, this is no longer a challenge. It is the only website in India that provides live and real time Japanese Yen exchange rates today in Verka. Customers can buy/ sell their currency at live rates or at a rate they can ‘lock-in’ using the “Freeze the rate” option on the website to avail the best Japanese Yen exchange rates today in Verka. Our other forex related products and services include JPY forex cards, JPY traveler’s cheques, money transfer and remittance services. Orders can be collected at our branches or at our partner bank branches, Axis Bank and ING Vysya, in Verka. Orders can also be delivered at home free of cost.
While BookMyForex’s charges are based on live rates, other currency exchangers base their charges on ‘daily rates’ or “today’s JPY rate in Verka” which are much higher. Charging “today’s JPY rate in Verka” provides a cushioning effect to avoid incurring losses due to JPY price fluctuation in the market because just like stocks JPYs 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 JPY rate in Verka”, BookMyForex’s offerings are more customer-oriented in terms of price and convenience. The norm of “today’s JPY rate in Verka” for basing forex rates only benefits the currency exchangers and earns them higher revenues. Because the JPY 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 JPY rate in Verka” 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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