Rates allows users to check forex rates in real-time while transacting with their banks as well as conduct a preliminary audit of last 1 year transactions closed with their respective banks. Rates can be used to check both real-time and historical rates for all types of forex transactions including Cash, Tom, Spot, Forward and Forward cancellation.

A user can check rates both real-time and historical for following currency pairs _ USD/INR, EUR/INR, GBP/INR, JPY/INR. Rates service is available between 9 am to 5 pm IST from Monday to Friday. As per RBI guidelines, merchant transactions are permitted till 4:30 pm only. Nowadays due to Covid 19 market timings are 10 am to 2 pm IST and Merchant timings are permitted till 1:30 PM.

We provide real time rates. These rates are picked from multiple sources including rates negotiated with 50+ banks for customers using TPO service of Myforexeye.

Myforexeye picks up data from 4 global service providers, blend this data from 27 contributors and populate its database. These rates are accurate and can be verified from external auditors.

Rates service is chargeable for checking real-time rates. A client has to make online payment of Rs. 36,000 per annum for availing the service. It comes with host of other services like access to historical rates, Daily Research Reports, Premium Research Reports and Trading Calls which makes the service highly cost effective. However, guest users can check historical rates for upto 3 transactions done in past 1 year with their banks.

Rates service is for individual companies and can't be clubbed for the entire group.

Rates subscription fees can be paid online using Myforexeye app or Myforexeye website. Once payment is received, the account is activated in less than 24 hours.

The banks seldom provide exact time of the transaction. It is difficult to arrive at the overcharged amount. Nevertheless, if users have been charged below/above Low/High rates then a client can contest the same with their bank. We advise not to get into any litigation with your bank.

Banks are companies looking to enhance shareholder value. It is in their interest to look for means to improve their profitability. It is incorrect to say such overcharging tantamount to cheating.

Yes, you can lodge a complaint with the regulator but it will be disheartening to note that the regulator (in this case RBI) will leave this between you and the bank to fix this. Few of our clients have written to RBI where response of the regulator was lukewarm.

Real-time rates are refreshed once every 5 seconds. To check real-time rates while talking to the bank, Open Rate Check > Input transaction in less than 30 seconds but DON'T press Submit button > Call banker > Once the bank quotes rate, press Submit button to check the difference in the rate offered.

Paid users can directly call Myforexeye dealing room. Before calling the dealing room, user has to update the last best quoted rate by the bank. Myforexeye dealer will negotiate rates from the bank and try to reduce the gap.

Yes, clients have to pay 30% of the saved amount or Rs. 1000, whichever is higher for all successfully negotiated transactions. The bill due date is within 30 days of transaction for assistance in subsequent transactions.

It is good news that you keep a watch on forex transactions. The arithmetic involved in arriving at Cash rates will still leave you vulnerable to leakages. Additionally, none of the websites provide real-time rates except for 4-5 global currency majors. And access to these live rates comes at a cost.

The forward premiums are not quoted on free websites leaving you vulnerable to relatively more leakages in Forward transactions.

Myforexeye audit report is 100% accurate. You can get the data verified from external auditors.

Yes, you can use Myforexeye audit report which is a transparent depiction of markets rates during the chosen period to claim refund for excess margin charged. Don't be disheartened when bank doesn't oblige with your request. But be careful in future while transacting with banks.

It is natural for banks not to accept differences in rates. Rate negotiation isn't easy. You are fighting with bankers who are more knowledgeable than you or your staff. The ultimate solution is to sign for TPO services of Myforexeye and relax as far as forex rates are concerned.

It is good news that you have a bank who listens to your requests. What is the surety the bank will not overcharge in future once they build trust with you? We have seen many customers returning to Myforexeye to handle their forex transactions when they rechecked rates after some time. It is impossible for bank to work on agreed margin due to profitability pressures from seniors, shareholders etc.

Rates allows the customers to check real-time forex rates while they negotiate for their transactions with their banks as well as check historical rates for transactions done in past 1 year with their respective banks whereas by using TPO service, rates for forex transactions of the customers are negotiated and booked by Myforexeye dealers on their behalf with their respective banks.
Please refer to comparison table to know the difference between the services included in Rate Check and TPO.

Service	Rate Check	TPO
Rate Check (Real-time)	Included	Included
Rate Audit (Historical)	Included	Included
Daily Research Reports	Included	Included
Premium Research Reports	Included	Included
Trading Calls	Included	Included
Guest Writers	Included	Included
Dealing Room Assistance	Included	Included
SMS Pre-Opening, Opening & Closing Rates	Included	Included
TPO Deal Cover	Included At Cost	Included
Dr. Forex	Not included	Included At Cost