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It is next to impossible for customers to find the actual Omani Rial exchange rates today in Patancheru especially on the Internet. Unlike other websites that provide only the interbank rate or base rate, BookMyForex now provides live and real time Omani Rial exchange rates today in Patancheru. Customers have the choice to book their order at live rates or at Omani Rial exchange rates today in Patancheru that they can select by using the 'Freeze the rate' option on our website. Our full suite of forex related products includes OMR currency notes, OMR forex cards, OMR traveler's cheques and OMR money transfer and remittance services using OMR DDs and OMR wire transfers. 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 OMR rate in Patancheru' which are much higher. Charging 'today's OMR rate in Patancheru' 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 Patancheru'. Little do customers know that in the the name of 'today's OMR rate in Patancheru', 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 Patancheru' 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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