A Pune based large corporate giant is having huge quantum of inflows on a regular basis. They are very much focused on their routine business operations having banking arrangements with a private sector bank. They are having regular foreign exchange transactions and coverts dollar 2-4 times a week with a value of 1 million every week. They are having a fixed margin of 4 paisa and are monitoring any Forex live terminal for their own reference.
Myforexeye Value Addition
The management is more concerned about the group’s activities and with the profitability of each division. They are having a good margin in their products and they trust the bank in respect of getting the forex quotes from them. As they are not keeping an eye on the forex rates by referring to any live interbank platform, with an exposure of 50-60 million yearly even a small deviation from live rates will affect them badly. While doing an audit of a transaction for them we discovered that the bank was not giving the live quotes to them. We took it further and assisted them in the very next transaction resulting in a huge saving of 60 paisa from the initial rate bank offered to them. They assigned us the task to get the conversion done for them with their bank with immediate effect.
13 Jun 2020 03:43 PM
A Tiruppur based fabric exporter had booked forwards expiring on May 29th, 2020 but due to lack of inward remittances, he had to roll over the forward contracts. The challenge encountered by him was the uncertainty in the Rupee spot price and the sev
05 Jun 2020 10:57 AM
A Delhi based metal importer had import payments of 3-4 million dollars scheduled every month. The client was getting extremely worried about the weakening rupee. The rupee has already depreciated 7.5% in 1.5 months. With growing uncertainties in the
19 May 2020 12:06 PM
A cloth exporter based out of Tirupur booked around $100,000 of export forwards per month. The client’s bank margin was fixed at 10 paise. The bank had been quoting a cash spot rate of 10 paise above the margin. The client had recently signed our “FX
16 Nov 2019 04:30 PM
Delhi based manufacturers of institutional and home furnishings, fabrics and hospital textiles exporter with market base across the country and other Asian and European nations. The client had recently started using our TPO service and had to book a
05 Oct 2019 05:30 PM
A Pune based industrial Instruments importer engaged in manufacturing of Electrical/ Instrumentation Systems. The client regularly avails import funding in foreign currency from Overseas branches of Indian Origin Banks. The client shared a transactio
21 Sep 2019 06:14 PM
A New Delhi based electronic goods importer. The working capital cycle of the client is 180 days but the Import payments terms are at sight against DP documents. The client used to utilize the Cash Credit facility with a PSU Bank. The client had appl