27th March 2018, It was a savings day for a Pune based corporate, which is one of the major players in steel industry. They have done a savings of half a million rupees in a single transaction. It was a CAPEX EUR Payment through one of the private sector banks.
The flow of the transaction was as below:
Transaction details were shared with us in the for outward payment of EUR 528,000.00
Bank had offered the EUR rate @ 81.8000, bank was overcharging them by 98 paisa/ EUR. After our intervention our dealer started negotiating with the bank to bridge the gap on appropriate margins. After a tough negotiations the EUR/INR deal was concluded @ 80.8500and done a net savings of Rs. 501600.00
It has been confirmed that the company will be having 4 more transactions in coming FY, considering the cumulative volume of USD 2.12Mn, the possible savings is nothing less than Rs. 20.00 Lakhs, which could be a CTC of a Finance unit of this company.
|Details of deal:Date: 27-03-2018|
|Transaction Type||Value||Currency||Amount||Rate Given By Bank||Amount in INR||Rate covered By RouteForex||Amount in INR||FX Margin Charged||Difference INR||Saving in Transaction (INR)|
Feedback from Client:
It’s been a big savings day for us. Saved of half-a million rupees made our day. Till now we were blindly trusting the other service providers and banking partners as far as the rates offered by them and accepting on a good faith. But after introduction of RouteForex& team, it was an eye-opening experience for us. Great support from dealing desk and effective assistance from the local officials. This is a good value addition for our company and we recommend this activity in our networks. Thank you!