Client Saved INR 72,540 In First TPO Transaction
CASE
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.
VALUE ADDITION
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.
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