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It is next to impossible for customers to find the actual Omani Rial exchange rates today in Kasargod 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 Omani Rial exchange rates today in Kasargod. So customers can either buy forex at live rates or select the 'Freeze the rate' option on our website to lock-in the Omani Rial exchange rates today in Kasargod and exchange their currency at that rate within three days. We also offer other forex related products that include OMR currency notes, OMR forex cards, OMR traveler's cheques, as well as money transfer and remittance services through OMR wire transfers and OMR demand drafts. Orders can be collected at our branches or at locations of our partnering RBI authorized exchange companies/ banks, in Kasargod.
While BookMyForex's charges are based on live rates, other currency exchangers base their charges on 'daily rates' or 'today's OMR rate in Kasargod' which are much higher. Charging 'today's OMR rate in Kasargod' provides a cushioning effect to avoid incurring losses due to OMR price fluctuation in the market because just like stocks OMRs 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 OMR rate in Kasargod'. Little do customers know that in the the name of 'today's OMR rate in Kasargod', the rates charged by the currency exchanger are higher because they have to protect themselves from any losses owing to OMR price fluctuation on account of the OMR 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 OMR rate in Kasargod' 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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