Tag Archives: foreign currency exchange in Chandigarh

Save Money with These Currency Exchange Tips

People start saving for months for a planned vacation. However, it might not be that affordable if you are made to pay huge currency exchange fees. The process of foreign exchange can be complex and might even end up as a costly affair, with different fees and charges. A brief preparation and acquaintance with a certified currency exchange company in Chandigarh can make sure you get the most out of your money.

Where to Exchange Currency ?

Whether you are abroad or at home, there are numerous currency exchange options available everywhere. However, some of them will be expensive in contrast to the others. Let us now briefly discover the options for foreign exchange available to you:

  • Ordering the Currency Online – Today, in the era of technology, where everything can be ordered online hassle free, currency exchange is also one of them that can be delivered right to your doorstep. Even though you can find the competitive conversion rates from different service providers online but the delivery charges may eat into the funds. So, it is not much preferred by the ones who go for planned holiday. But, if you are in haste, it is really worth opting for.
  • Choosing Traveller’s Checks–Security of money is essential whenever you are traveling abroad and opting for traveler’s checks can rest you assure for the same. However, these are not accepted everywhere abroad and finally you need to go to the bank to cash the same.Or, you need to find the ones where traveler’s checks are accepted and the number of such service providers is declining rapidly.
  • Visiting Currency Converter Service Provider – One of the best things you can do is approaching a certified service provider that deals in foreign currency exchange in Chandigarh. You will not only get the best exchange rate but can even avoid paying that hefty exchange feels that the majority of foreign exchange counters available at the airport charge. Choosing this option can probably save you a lot of money.
  • Withdrawing Cash from ATM–These days, the majority of credit and debit cards are acceptable internationally. In addition, almost every bank has a branch as well as ATM machines across the globe, or have a partnership with other institutions in various countries. You can use your credit or debit card to withdraw money. However, you might end up paying a bit more as you will be charged the exchange rate fees in addition to International Withdrawal Fees, which ranges from 1% to 3%.
  • Exchanging Cash at Travelex, Airport, or Hotel Counters–Relying on the currency exchange options available at Travelex, airport or hotel counters is definitely not recommended as you might end up paying a huge amount that might ruin some plans on your trip itinerary. Usually, the exchanges rates at such counters are poor as well as the fees charged are significantly high.

currency exchange company in Chandigarh

So, if you are going for a planned holiday to your favorite destination abroad, it is always good to get currency exchange from a certified and professional service provider in Chandigarh to avoid hassles and additional charges.

Have a safe journey!

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Sending Money to India – Tips & Tricks

Remitting money to India can be an expensive affair sometimes. But you can get maximum bang for your money with some simple tips and tricks. You must know the jargon, find the most cost-effective service, and time your money transfer perfectly to make a smart choice.There are many companies that offer money transfer services in Chandigarh who make the task very easy for you. Read on to know easy tips and tricks to help you maximize your money by taking advantage of the fluctuating exchange rates in India.

Why Exchange Rates Change?

The rates of most of the international currencies change as they float i.e. the value of the currency relative to other currencies is set up by their demand and supply. While governments in certain countries set a fixed exchange rate but mostly they fluctuate. Foreign exchange is traded around the clock across the world. This is the reason why foreign exchange rates vary every minute. The amount you wish to transfer to India also makes an impact on the exchange rate. In case you are remitting a small amount any change in the exchange rate may result in slight difference, however in the case of large amount, there is a significant effect.

 Know the Foreign Exchange Jargons

Foreign exchange has its own terms and jargon. It pays to know about common terminology so that you are aware what you are getting into. Some of the common terms are:

  • Sell Rate: This is the money you get when you exchange your local currency for foreign currency.
  • Buy Rate: Buy rate is what you get when you exchange foreign currency for local currency.
  • Interbank Rate: This is also known as a bank to bank rate and is the wholesale rate at which the banks exchange currency between themselves.

By knowing about these terms you can be sure what exactly are you signing up for?Some of the companies dealing in foreign currency exchange in Chandigarh a step further and calculate exactly the amount the remittance receivers will get.

Keep Track of Exchange Rates

You can watch the daily interbank rates on your chosen currency to find out the best exchange rates. As there is constant fluctuation in currency rates so the price you will get will never be the same and there will be a variation every day.Many factors can cause the travel money to wobble, from economic forecasts to employment figures to interest rates so you need to watch out the currency movements and transfer the money only when the rates are climbing. Alternatively, when you wish to transfer money back to the local currency you can do that when the rate is falling. You can monitor the exchange rates online as most websites display live rates.

money transfer services in Chandigarh

Shop Around for Most Economical Provider

Currency rates also fluctuate from one company to another. You may need to shop around for prices and find the best deal before you remit money to India. If remitting a substantial amount it leads to great savings. Also, check for any additional commission or transaction fees that may be involved at the time of the transaction. Once you compare the total cost of remittance you can finalize the company that gives you the best deal. Though the deal or exchange rate may appear to be very attractive with extra fees or commission involved the rates may not turn out to be as competitive as expected.

Also take into consideration the economy of India at the time you remit money. After following all these tips we are sure you can make the best choice while transferring money to India.

Please let us know if you want us to add something more by commenting below!

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Foreign Currency Exchange Trading – 3 Amazing Benefits

Trade volume in foreign currency exchange in Chandigarh and other parts of the globe has been escalated radically in recent years. Following the widespread adoption of the internet as a communication device, turnover in trade has reached trillions for each day. Yet, to attribute this spectacular escalation in trade volume solely to the internet would simply downplay the intrinsic advantages that traders enjoy through the business of trading foreign currency.

Here are 3 amazing benefits of trading in foreign currency exchange:

1) Liquid Investment

The foreign currency exchange market has the benefit of being extremely liquid, providing the investors with the flexibility to withdraw their invested money at any point of time, conveniently. Because foreign exchange market is not limited to Chandigarh only, it is not difficult to explore potential buyers of a particular currency.

2) Recession Resistant

One of the biggest benefits that traders of money exchange company in Chandigarh enjoy lies within the insulation to recessions. It is unlike other financial products such as stocks that are extremely vulnerable to recessionary pressure, but foreign currency exchange market is comparatively immune towards such a downfall.

For instance, the dollar can be exchanged or traded against or for any other currency in the market.

3) Convenience

Last but not the least is convenience. Trading in foreign currency exchange is absolutely convenient and is well organized. Unlike in stock market, there is no closing hour and the traders across the globe can stay connected via the internet round the clock. Moreover, it can cater your family as an extra income also and can be taken up as a full-time occupation too.

money exchange in Chandigarh

Even though there are a lot of other benefits of currency exchange in Chandigarh but these aforementioned are the top benefits over the others. If you are new in this market, feel free to hire professional services of a certified and experienced financial advisor or money exchange company in Chandigarh to get an expert advice for the same and make it lucrative.

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