Forex Services You Should Know About

There are various institutions which provide large varieties of Forex services for fulfilling the requirements of the customers and the investors. They include:-

• Forex markets or other institutions are the certified traders in foreign exchange and are the associates of the FEDAI (Foreign Exchange Dealer’s Association of India ) .
• They contain the official branches in all over the world managing all kinds of foreign exchange business. Their subdivisions are located in all the urban cities and towns and some semi-urban places.
• They have reporter association with the abroad banks including each essential dealing and economic centers.
• Every room of the Forex market contains a completely automated information processing and telecommunication system with immediate access to each International Currency and Financial Market.
• They also contain immediate telecommunication ‘Hot Lines’ along with limited foreign exchange dealers.
• They are also associated with the SWIFT (Society for World Wide Interbank Financial Telecommunication) for immediate money transmits in the world.
• There are also more than 604 branches in the country that pursue chosen dealings in the foreign exchange.
• The Forex markets at Mumbai trades in about 12 foreign currencies with substantial knowledge in the main currencies such as GBP, USD, CHF, YEN and Euro.

Other Forex Services

• Offers forward cover.
• Offers market intelligence.
• Offers cross currency alternatives.
• Offers prospects, profiles and rate estimates for foreign currencies
• Greatest and quickest prices for any foreign exchange dealings for any value
• Offers status report, risk and profiles of the overseas dealing partners
• Import-Export policy, consultancy services on trade controls and other rules and regulations in foreign deal
• Risk management, counseling and best equivocation of the entire foreign exchange experiences in the durable perception

Forex Services for Exporters and Importers

• Gold Card format of the exporters
• Pre-shipment and post-shipment credit in foreign currency
• Pre-shipment credit to qualified exporters at reasonable interest rate for manufacturing, procuring, warehousing, processing and transporting of goods refers to exports against firm order or letter of credit

Forex Services for Travelers, Foreign Business Customers and Tourists

• Receipt and payments of inward allowances in any changeable currency
• Providing of encashment certificates and inward allowance certificates
• Collection of drafts, cheques and instruments in any changeable currency
• Loan capability to students for pursuing courses overseas according to the rules provided by the Reserve Bank of India

NRI Forex Services

All the banking comforts connecting to managing of NRI’s deposit account and other associated services which can be accessible to other branches. One can contact any certified offices at the overseas for any details.