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It is next to impossible for customers to find the actual New Zealand Dollar exchange rates today in Kozhikode 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 New Zealand Dollar exchange rates today in Kozhikode. Customers have the choice to book their order at live rates or at New Zealand Dollar exchange rates today in Kozhikode that they can select by using the “Freeze the rate” option on our website. Our full suite of forex related products includes NZD currency notes, NZD forex cards, NZD traveler’s cheques and NZD money transfer and remittance services using NZD DDs and NZD wire transfers. Product delivery is done at our branches or at all Axis Bank and ING Bank branches, our nation-wide banking distribution partners.
While BookMyForex’s charges are based on live rates, other currency exchangers base their charges on ‘daily rates’ or “today’s NZD rate in Kozhikode” which are much higher. Charging “today’s NZD rate in Kozhikode” provides a cushioning effect to avoid incurring losses due to NZD price fluctuation in the market because just like stocks NZDs 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 NZD rate in Kozhikode”. Little do customers know that in the the name of “today’s NZD rate in Kozhikode”, the rates charged by the currency exchanger are higher because they have to protect themselves from any losses owing to NZD price fluctuation on account of the NZD 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 NZD rate in Kozhikode” therefore, is just a means to exploit the customer.
Mr. Sudarshan Motwani established BookMyForex in 2012 with a vision to make the foreign exchange market more organized and transparent in India. Equipped with the expertise of having successfully set up and run the Foreign Exchange division at some of India’s leading banks, the challenge of setting up a Company that would revolutionize the entire forex market in India, was not daunting for him. Our services can be accessed online across India.
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