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An exchange rate is the ratio of one unit of currency to another unit of currency. An exchange rate is established between different currencies to facilitate inter-country transactions. The conversion rate between various currencies depends mainly upon the demand and supply relationships. Because exchange rates are fluctuating in nature, companies and dealers are subject to exchange rate fluctuation risks.
There are two important types of exchange rates that prevail in a foreign exchange market. They are the Spot Exchange rate and the Forward exchange rate. Spot exchange rates are the rates that are applicable for purchase and sale of foreign exchange on spot delivery basis or immediate delivery basis.
Although, the term spot denotes immediate happening and closing of transaction, practically it takes two business days for a spot exchange transaction to get settled.
So, we can say that the Spot rate is the rate of exchange of the day on which the transaction has occurred and of the days the execution of the transaction is taking place. Forward exchange rates, in contrast, are the rates that are applicable for the delivery of foreign exchange at a certain specified future date. For example, a foreign exchange contract may specify that the payment has to be settled after 3 months, or it may be a day maturity contract.
When a contract is agreed upon, the dealer of the foreign exchange settles the payment due after the day period at the agreed forward exchange rate. This settlement will be at the initially agreed rate, called forward exchange rate, and will not be affected by the spot exchange rates prevailing at the time of settlement at maturity. This is a way by which uncertainty and risk could be avoided in dealing with foreign exchange transactions. NetDania does not guarantee the accuracy of data contained on this website, nor do we guarantee that data is real-time.
Data on this website may be provided from OTC market sources and market makers, and not necessarily from exchanges. The provided price data is indicative and may not be appropriate for trading or decision making purposes. NetDania does not assume any responsibility for any losses incurred from the use of the provided data. NetDania does not endorse or promote any broker or financial service.
NetDania is a pure technology provider offering its software with broker integration. Any user of NetDania software must be an existing client of one of our supported brokers. NetDania showcases NetDania technology for the purpose of demonstrating it towards brokers and other institutions looking to white label the technology on a software subscription contract.
No financial services are offered, promoted or recommended. NetDania is compensated as a technology provider by its institutional clients including its integrated brokers. It is the sole responsibility of any recipient employing or requesting an offering to comply with all applicable legislation or regulation affecting it.
We have not taken any steps to verify the accuracy, quality or reliability of any products, information or services provided by third parties that have links on our website. We accordingly provide no warranties with regard to and disclaim responsibility for any such products, information or services and exclude all liability in this regard to the fullest extent permitted by relevant laws and regulations.
We are per cent transparent with our customers and do not burden them with any other hidden charges. The Forex rates provided by our dealers are always updated live on our website to ensure our customer is informed at all times. Our aim is to strive to become better by each passing day and to achieve excellence and utmost satisfaction of our customer base by offering them the most competitive pricing and providing them maximum benefit on every international transaction.
We believe in winning our customers with complete trust, authenticated processes and validated information. Transparency is our ultimate goal. Currencykart launches India's first online market place for foreign exchange to buy forex and forex related products like currency exchange , travel cards and money transfer online at best prices an I too faced some challenges, but I am blessed to have a supportive family.
Online money-changer CurrencyKart makes forex look easy for foriegn exchange and related products launches india's first integrated market place Read More. CurrencyKart, an online currency aggregator, feels the business has taken a big hit.
Online forex business to witness boom post demonetisation? India's first integrated market place for foreign exchange launches Forex in an app: Currencykart is an online marketplace for foreign exchange and foreign exchange products like currency notes , travel card , money transfer and travel insurance. Currency Converter See the latest exchange rates now!!! Request a call back Drop us a message We shall contact you shortly!!!
Please Enter Email And Mobile. Proceed View Rate Card. Best Rate Delivery Billing Payments. Best Rate in the City Edit. Estimated Amount Exclusive of Tax: Airport Delivery Currency denomination below 10 is not accepted. Your order has been broken and divided into several sellers, to provide you cheapest rates.
Select Delivery Option Normal Delivery. Logistic and payment handling supported by CurrencyKart. Documents to be Provided: Flight Ticket Valid ticket within 6 months from date of purchase.
Currency Declaration Form Required for transaction worth over Rs 50, Please carry these documents handy or upload copy after placing order otherwise we will not be able to deliver currency. I confirm that I'm in possession of valid documents as per the list shown above and that I haven't bought or transfered foreign currency for more than USD 2,50, or equivalent in another currency in the current financial year.