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.
05 Mar 2021 03:06 PM
Myforexeye met an exporter when the USDINR spot was at ?72.40.The forward premium for April was 70 paise.
25 Feb 2021 06:10 PM
Our existing client, a garment exporter had hedged his receivables and sold EURINR forward @85.60 for Dec 2020 but part of their order got cancelled. They were able to cancel the balance contract only on maturity @89.90, booking a loss of INR 4.3 per
19 Feb 2021 12:12 PM
A Maharashtra based agro products exporter was taking working capital loan in foreign currency at 4% (LIBOR+200 to 250 bps). He wasn’t aware of PCINR/RPC, a packing credit loan available to Indian exporters.
24 Dec 2020 12:21 PM
Trade call given my Myforexeye on 10th November was to sell GBPUSD 25th November Futures.
19 Nov 2020 12:01 PM
An IT services importer had his account with HDFC bank. He did his forex transactions through HDFC bank. We reached out to him with our services.
06 Oct 2020 11:28 AM
Tirupur based textile exporter had to import Solar Panels from China. Duty was very high. The client had to make a choice regarding funding of the import.