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Customers looking for forex rates have to constantly struggle to find the actual Saudi Riyal rates today in Jabalpur. 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 Saudi Riyal exchange rates today in Jabalpur. 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 Jabalpur. 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 can even choose to have their order home-delivered.
Customers are simply being taken for a ride and exploited, when foreign exchange dealers base their forex rates on “today’s SAR rate in Jabalpur”. Little do customers know that in the the name of “today’s SAR rate in Jabalpur”, 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. While BookMyForex’s charges are based on live rates, other currency exchangers base their charges on ‘daily rates’ or “today’s SAR rate in Jabalpur” which are much higher. Charging “today’s SAR rate in Jabalpur” provides a cushioning effect to avoid incurring losses due to SAR price fluctuation in the market because just like stocks SARs are also traded electronically across the globe like any other financial security. In the name of “today’s SAR rate in Jabalpur”, most currency exchange companies charge higher rates for forex so they can cushion themselves in case of losses owing to SAR price fluctuation.
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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