An agricultural machinery manufacturer in Maharashtra was on a trial for the Transaction Processing Outcourcing (TPO) service. His Bank was ICICI bank and was charged a margin of 3 paisa. The client requested us to conduct a conversion transaction of amount $ 299,135.48 that he had received as an export remittance.
As requested, we conducted the transaction. Initially for 299135.48 ICICI Bank quoted 72.85 to the client. But after our involvement they quoted 72.92, and at last after decent negotiation we got 73.0225. Hence improvement of 17.25 paise/dollar on $299135.48 from 72.92 and a majorimprovement of means in Inr terms improvement of 24.25 paisa / dollar from the initial quote of 72.85. The total amount saved by the clienton this transaction was INR 72,540.35.
18 Jun 2021 03:49 PM
A client had an exposure of USD 1 million receivable in seven equal tranches of USD 0.142 million each between August to February. He receives documents only one month before his receivables are due.
11 Jun 2021 01:37 PM
A U.P. based exporter had an inward of USD 150,000 in May 2021 to be converted to Indian Rupees. Forward premium were at its 4.5 years high in May so cash spot discount was also high around 5-6 paise.
05 Jun 2021 12:28 PM
A fruit exporter approached Myforexeye to better optimize forex risk management. He had an exposure of $300,000 every month and was banking with a large foreign bank in India.
31 May 2021 09:10 PM
A perishable goods exporter needed to hedge USD 0.5 million inwards anticipated in July but was unable to hedge as forward limits were not available to him.
29 May 2021 01:59 PM
A client had opened an import L/C for EUR 500,000 on 11th January 2021 with an expected due date of 31st March 2021. The client was unsure if he should hedge his position or not.
07 May 2021 01:04 PM
Our existing client, an IT company had contracts spanned across 2 years. They had Long term exposure of USD 12 million but were unable to hedge long term forwards i.e. more than 1 year.