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 applied to borrow in foreign currency, but their application for availing Buyer's credit was put on hold as the said bank had not started issuing SBLC till date. The client consulted one of their business associates, who suggested Myforexeye to them for further assistance on the process of availing Buyer's credit.
Once the process was approved at the local bank’s end, the client was able to borrow funds in foreign currency at a substantially cheaper rate and secure the loan somewhat matching their working capital cycle. The client was delighted with the assistance provided by Myforexeye team in not just advising on the solution and arrangement of cheaper funding, but mainly towards convincing their long-standing bankers on getting it operational.
07 May 2021 01:04 PM
Our existing client, an IT company had contracts spanned across 2 years. They had Long term exposure of USD 12 million but were unable to hedge long term forwards i.e. more than 1 year.
08 Apr 2021 05:50 PM
A Bengaluru based exporter, banking with a leading private bank, had an inward of USD 79,586.
27 Mar 2021 06:38 PM
A Delhi based exporter with a monthly exposure of USD 100,000 was managing their forex exposure by booking window forward contract with their bank.
19 Mar 2021 05:30 PM
Exporter Saves INR 17,370 On A Single Transaction
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