Delhi Based Textiles Exporter Saved Rs 29000 On One Transaction
CASE
- Delhi based manufacturers of institutional and home furnishings, fabric 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 EURINR export forward for EUR 1,00,000 with a PSU bank.
SOLUTION
- Myforexeye dealer approached the bank’s Treasury for booking the forward contract for fixed maturity 24-Dec-2019.
- The negotiation with the bank started by the bank giving a net rate of 79.46 where our dealer quoted the live rates from the terminal. After a lot of negotiation, the deal was closed at a net rate of 79.75 saving the exporter 29 paisa per euro.
VALUE ADDITION
The client was highly satisfied with the TPO service of Myforexeye as we could successfully improve the EURINR forward rate from 79.46 initially offered to 79.75 and saved a sum of INR 29,000 for the client on a single forex transaction.
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