A textile-manufacturing company based out of Tamil Nadu has a large scale domestic business and recently decided to enter the international market. Belonging to a small town and new to foreign currency exposure, they had little awareness of Forex. They wanted to mitigate their foreign currency risk in exports and imports. The company found us on the web, and was then approached by our sales team. They intended to subscribe for the TPO and Forex Advisory services.
With the help of Myforexeye Advisors, the client is now aware of how the forex rates work and bank practices. The client not only saved on the extra charges but will also be able to make sound decisions for himself in the future.
23 Jul 2021 01:45 PM
A Maharashtra based exporter had an inward of USD 9,198 and the bank was quoting him a net rate of 73.08 when USDINR spot rate was at 74.34.
13 Jul 2021 01:26 PM
A Pune based construction company did not have the funds to keep with bank as a collateral and open a forward limit to hedge the forex exposure.
03 Jul 2021 03:27 PM
An Ahmedabad based textile importer had an import forward booked for 22nd July at 74.59. On 2nd July, the client had to make an urgent payment of USD 49920.
27 Jun 2021 09:27 PM
A Japanese Yen importer had a business arrangement with the seller to use RBI quarterly reference rate for import bill buying. The client was hedging the import bills (JPYINR) on the basis of previous quarter's reference rates published by RBI to hed
18 Jun 2021 03:49 PM
A client had an exposure of USD 1 million receivable in seven equal tranches of USD 0.142 million each between August to February. He receives documents only one month before his receivables are due.
11 Jun 2021 01:37 PM
A U.P. based exporter had an inward of USD 150,000 in May 2021 to be converted to Indian Rupees. Forward premium were at its 4.5 years high in May so cash spot discount was also high around 5-6 paise.