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It is next to impossible for customers to find the actual Saudi Riyal exchange rates today in Chennai especially on the Internet. Unlike other websites that provide only the interbank rate or base rate, BookMyForex now provides live and real time Saudi Riyal exchange rates today in Chennai. 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 Saudi Riyal exchange rates today in Chennai. Our other forex related products and services include SAR forex cards, SAR traveler’s cheques, money transfer and remittance services. Orders are delivered at our own branches or at the branches of our banking partners – ING Vysya bank and Axis bank.
Customers are simply being taken for a ride and exploited, when foreign exchange dealers base their forex rates on “today’s SAR rate in Chennai”. Little do customers know that in the the name of “today’s SAR rate in Chennai”, the rates charged by the currency exchanger are higher because they have to protect themselves from any losses owing to SAR price fluctuation on account of the SAR being traded globally just like any other financial security. Being a technology company our offerings go beyond the standard “today’s SAR rate in Chennai”. Other foreign exchange dealers in Chennai are simply exploiting the customers through the concept of a static “today’s SAR rate in Chennai. Most money changers charge a fixed rate for a particular currency on a given day, whereas actually the SAR rates fluctuate constantly all through the day, as is the case with stocks in a stock exchange. To protect themselves from any losses on account of price fluctuation, currency exchangers keep higher margins and therefore their rates are higher. “Today’s SAR rate in Chennai” 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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