Online Foreign Currency Exchange Rates in Bangalore
Be it travelling to other countries for your higher studies, or going abroad for a business/trade/job, or
simply travelling to some foreign country for a family trip - exchanging your Indian currency for the
currency of the country which you will be visiting has always been a tedious and bothering task for all
Being a resident of Bangalore, you can get access to Fxkart.com - an online one-time-solution to all your
money exchange problems - prior to travelling abroad.
Before we get to know more about Fxkart, let’s get acquainted with the concept of foreign
What is Forex (Foreign Exchange)?
Forex is the general abbreviation used for referring to foreign exchange (FOReign EXchange). It is a huge
market on a global basis which involves trading of currencies. It is an over-the-counter (OTC) market
with no central marketplace and is open for 24 hours a day and five days a week.
Considering in terms of volume, this market has been by far the largest market in the world and is
continuously rising. In 2013, Bank for International Settlements confirmed that this huge market’s
turnover averaged around $5.3 trillion daily.
Participants of the Market
Starting from nationalized banks to individual dealers, there are a varied number of participants for the
foreign exchange market. Commercial as well as central banks take part in this trading. Registered
dealers and brokers are also authorized members of this market.
Fluctuations and Currency Value
Fluctuations in the market and the currency values depend primarily on political and economic
conditions of countries. These fluctuations are factors through which one gains or loses while trading.
Currencies are traded in pairs. For instance, USDINR refers to the value of the US dollar with respect to
the Indian rupee.
Other than trading and profiting purposes, the forex market is used for simple currency conversions for
common people travelling to other countries as mentioned earlier. If you want to buy something from
Brazil, certainly Indian rupee won’t be accepted there. All you need to do before travelling to Brazil is
get hold of some authorized dealer/broker who gets your Indian rupee (INR) converted to Brazilian Real
(R$). The dealer will interact with the foreign exchange market and get the money conversion done for
you at a best rate.
But this process of contacting the dealers, bargaining with them, choosing the best dealer, opting for the
best rates - is a very lengthy and time consuming process which most foreign travellers have
experienced in the past days.
Fxkart.com brings to you an online platform which helps in speedy completion of the entire money
exchange process. Besides, you are let to view all the available prices of the RBI authorized forex dealers
in Bengaluru and choose your best deal. Your requirements will be delivered at your doorstep.
Additionally, you do not need to worry about any type of hidden charges.
Fxkart.com functions in all major cities of India. Bangalore, being one of the metropolitan cities of India,
is also covered. Just choose your currency type, select Bengaluru as your city and get the best rates
available from dealers. You won’t be charged any membership fees- it’s absolutely free. You will get a
fast delivery at your favoured price. With Fxkart.com money exchange is not a headache any more.