A North based exporter of designer decorative and bath accessories having exposure of around 30-40cr banking with a private bank. They are actively managing their exposure, as their receivable are spread throughout the month they generally take window forwards. They are having a margin of 5 paisa with the bank for cash transactions and a margin of 25 paisa for forward transactions.
Myforexeye Value Addition
The management is well informed about the knowhow of the forex markets. Advised them to avoid booking window forwards as we loose on to the premium of whole month by following this practice. Advised them to go for fixed date forwards and that we can early utilise those forwards as well if we receive any inward during the month. The bank along with the hefty margin on forward transactions used to overcharge them by around 5-7 paisa. Had a word with their account manager from branch to discuss about different margins they are charging for cash and forward transaction. The relationship manager didn’t gave a valid justification against the same, advised them to take up this issue with their bank. Advised them to get direct treasury access for forex dealing so as to get the market rate.
After Myforexeye involvement they managed to gain on premium by doing month end forwards and early utilising the same as and when required. They saved on bank margin after setting a fixed margin with the bank of 7 paisa on both cash and forward transactions. After getting direct treasury access they are saved around 5 paisa on every transaction getting market rate.
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
07 Sep 2019 03:03 PM
A large importer based in Delhi. The client had started a relationship with Myforexeye 6 months back. The client was getting extremely worried about persistent rupee weakness. Their import payment of USD 1 million was due for September 2019.
17 Aug 2019 05:53 PM
A South Indian Electric Vehicles manufacturer well known for selling battery operated two-wheelers. The company regularly imports various components required to assemble two-wheelers from different geographies of the world. Given the focus on green e