Sending Money to India – Tips & Tricks (Blog)

Remitting money to India may be an expensive process at times; however, with few tips and tricks at your rescue you can surely find the best deal. Contact a reliable company that offers money transfer services in Chandigarh at best prices and makes the entire process smooth. For more information visit our website: http://hedgemoney.in/blog/sending-money-to-india-tips-tricks/

Publisher: HedgeMoney - 22:08

How to get best deals while buying foreign currency?

As soon as the holiday season arrives, few people like to travel abroad. One of the most important things for your foreign tour includes the foreign exchange. Travellers can usually purchase foreign exchange 180 days prior to the travel date by submitting copies of pan card, passport and visa or air ticket. However, if you do not want to block your money foreign exchange can be purchased 3 to 4 days prior to your departure. You can keep the following pointers in mind in order to get the best deals while purchasing foreign currency:

1. Check who offers what?

There are several players in the market who offer Foreign Exchange Services in Chandigarh. These may be authorised money changers, travel agents, banks and unregulated grey market. Usually, the forex dealers charge the lowest commission when compared to banks or travel agents. You can check out the rates of various forex dealers, banks and money changers and choose the one which offers the most competitive rates. 

2. Avoid Grey Market

The grey market may offer lower rates, however, should be avoided as there may be several risk factors associated with them. There may be counterfeit notes or no receipt may be issued for the foreign exchange by the grey market. If you use a counterfeit note overseas, the authorities will ask you to produce a receipt. In the absence of a receipt, it is regarded that the money has been taken from the grey market.

3. Do not exchange money at Airports

It is very expensive to exchange currency at international airports. This is mainly because the real estate at airports is very expensive. The common goods that are available at cheaper prices outside are usually available at 10 times the cost at the airport. The same logic applies to currency as well and there is a loading of 2 to 5 percent depending upon the location of the airport.

4. Excess cash must be avoided

Carrying excess cash has dual risks of theft and counterfeit currency so it is better to carry a plastic travel card instead. The chip based prepaid forex cards not only offer enhanced security however there is no fear of loss of value. These cards can be used at any of the POS terminals and are widely accepted across the developed countries. Plus in the case of loss of forex card, it can be hotlisted to ensure the amount remains safe.

So enjoy your holidays with your loved ones and for getting the best deals on foreign exchange, check the various sources and choose wisely. Most of the experts though advise using the forex card which not only is widely accepted however also proves to be an effective hedge against the fluctuations in exchange rates and does not involve any additional charges.

Publisher: HedgeMoney - 03:02

How to Exchange Currency in India?

Travelling is getting the most prominent interest among the people these days. Whatever may the reason for travelling, some arrangements always remains the same such as  your booking your accommodation, ticket bookings, planning your itinerary, adjusting to varying time-zones, planning your meals, packing up, carrying medicines and the most important arranging forex. Travelers look towards the reliable source to convert their currency. Here we will discuss the dependable places in India for foreign currency exchange. 

Currency exchange booths in Airport: One of the most convenient place for the tourists to exchange their dollars to Indian rupees is the currency exchange booths inside the airport. It is not possible for the tourists to exchange the currency, once they leave the airport. But don’t prefer it all the time as the exchange rates may vary from place to place. 

ATM centers: 

For exchanging a small or limited amount of money, ATMs will be the right choice. It is better to confirm the exchange rates with the concerned bank regarding the changing of foreign currency through ATMs. Having a tourist guide as a friend or any relative in India is a better option. 

Banks in India: 

The nearby local bank can also be proffered for the money exchange. Some of the banks allow the facility of foreign money exchange only to the account holders while some charge an extra fee to change money through which you may experience a big loss. But tourists can find a local bank and discover the cost effective procedure for money exchange. 

If you want to avail smoother and easier foreign currency exchange, you can get it from Hedge Money- A well renowned Currency Exchange Company in Chandigarh.

Publisher: HedgeMoney - 04:05

Myths or Smashing Facts About Forex While Travelling Abroad

Myths are part of our daily life and we are surrounded by many myths. Either you’re a usual or a new overseas traveler or new to the Forex market, the myths about traveling abroad and Forex are always spinning around you. No matter how many times you have traveled earlier, such myths can affect anyone potentially. Here we will look at some myths that help any traveler to take the decision easily.

MYTH: Foreign Currency is the best option while traveling overseas.
FACT: carrying the hard cash with you can’t be safe for you, Forex card is an excellent option. The forex amount can be added to the prepaid card which can be used at any time you need to buy anything. The card is more secure and safe than the currency notes.

MYTH: Foreign tours are more expensive.

FACT: Foreign tours can be deliberated within your budget with careful planning of your Forex Exchange. You can plan it smartly by carrying Forex in a prepaid card and trigger any extra charges or surcharges which are imposed if you use Indian Credit/Debit cards overseas.

MYTH: Entire money is lost if we lose a Forex card while traveling.

FACT: In-case your card is lost or damaged, the balance in your card can be transferred into secondary card, which is issued with your Forex card. On your request, the Forex card issued to the traveler will be deactivated and entire balance will be transferred to the secondary card. Therefore, you can use the money on your trip.

After knowing these major myths, travelers can avoid these problems in India as well as foreign countries and opt for Money Transfer Services in Chandigarh to have a splendid trip.

Publisher: HedgeMoney - 21:50

Knowledgeable Delights from Foreign Exchange Company in Chandigarh

With the start of New Year, every Forex trader has new hopes for business in mind, new resolutions to follow in coming days, and new lessons to learn. In order to add more knowledge to your book of Trade, here are few terms elaborated by experts at a best Foreignexchange company in Chandigarh –

Off-Balance Sheet –

Financing a company or raising any fund, which is not visible on the balance sheet of that company are known as off-balance sheets. Example of such sheets includes forward rate agreements and interest rate swaps.

Offsetting Transaction –

When an investor enters equivalent but different position to an already occupied position, thereby balancing the complete positions. An off-setting transaction to the initial purchase would be considered to be a sale.

Open Position / Open

A valid offer or the order which is still pending to be executed is the open position, which can put any trader at risk as per the hike in the price, fall, or risky moments in exchange rate.

Options

Options are tradable contracts that give you the right, not the obligation to buy or sell securities, commodities, or currencies for future at a pre-decided price. Options are used to hedge against adverse price movements to speculate frequent changes.

A wise word of knowledge is never going to harm you, so add these terms to your glossary and utilize them wisely. We will come up again with more delights to your knowledge.

Publisher: HedgeMoney - 22:01

Forex Solutions in Chandigarh – Terms That You Should Know

A sincere Forex trader is always ready to grasp knowledge and know more about the business process they are involved into. For all those keen minds, here are few terms explained by experts offering Forex Solutions in Chandigarh to add to their business knowledge –

 

•    Uptick – This term is used to designate a price quotation, which is recognizably higher than the preceding pricing quotation for the same set of currency.

•    Uptick rule – This is the regulation to secure to be traded short, prior to the short trade the price of the trade should be lower than the current short trade price.

•    U.S. Prime Rate – This rate of interest is lent to the clients by major banks on demand.

•    Volume – The volume designates the count of the contracts and shares traded as per the security or an exchange during a certain period of time.

•    Volatility – This term refers to the tendency of variables/prices to vary over time. It is one of the most commonly analyzed coefficients of variation. Higher the volatility, higher is the risk involved.

•    Variation margin – It is a call to the broker to increase the margin requirement of an account at the time of highest market volatility.

Knowledge has the power to accelerate your business and always help you to achieve your goals with minimum efforts. So, add these terms to your business knowledge and have a profitable, safer, and wiser Forex trade.

Publisher: HedgeMoney - 21:19

Foreign Exchange Services in Tricity – Important Terms That You Should Know

Marketing is all about making money, profit, and loss of investors who are participating in the market. If one is earning profit from any deal, the other is certainly be facing the loss. The difference between both of them is that the profit earner worked with a strategy and knowledge and the loss earner lacked it in the process he followed. It is not every time that the tricks work, experts offering Foreign Exchange services in Tricity and other neighboring cities mention that regular learning and good thinking prospect, readiness to learn new things and knowledge is the most important thing that an investor should have. Here are few terms used in foreign exchange that every investor should know –

Candlestick Chart – It is the elaborated chart that represents the higher, lower, opening and the closing price, similar to the bar chart. In case the closing in the chart is comparatively lower than the opening in the body of the candlestick chart is filled in. On the other hand, if the opening is lower than the closing, then the chart is left empty.

Carry Trade – An investment to buy a higher yielding currency for the position with capital of any of the lower yielding currency, in order to gain a visible differential of interest rate.

Chartist – This term refers to the professional technical analyst or to the person who use to analyze the graphs, charts and other related data to uncover the potential trends in the market.

Cable – This term is been used in the Foreign exchange to elaborate and describe the rate of exchange between the British Pond and US Dollar.

Confirmation – It is a type of written document to verify the completion of transaction or trade to include certain factors like fees, date, commissions, terms of settlement, and the price.

Next time you will see these terms used somewhere during the process of Forex Trade, you can easily recognize its meaning. More information and descriptions related to foreign exchange servicesin Tricity will be shared in next post, stay tuned in.

Publisher: HedgeMoney - 02:32