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Pakistan Remittance Initiative

The State Bank has offered marketing expenses reimbursement to overseas entities that succeed to mobilise large amount of remittances for the country.

Click to continue reading “Pakistan Remittance Initiative”

Remittance Offers in this Diwali Season

It is Diwali season in India and the festive sprits are high. The festival of lights has certainly lifted the dampened sprits of recession with the stock markets rocketing for the past couple of days, even the dropping exchange rates have started to gain with a INR2 gain in the pound from the previous close of INR 73.20 to over INR 75 today.

The remittance service providers have quite a bouquet of offers on their sites, a few of them are as follows -

Barclays Remittance: Online Money Transfer offers UK ATP tour tickets free to its customers who remit money between 10th October till 9th November. The tickets will be for the finals match to be held in London. Please click here to see the promotion.

Remit2India: They offer white-goods which will be delivered to an address in India. The offer requires you to transfer money and play a simple game to be elegible for the offer. Please click here to see the promotion.

Money2India: They offer calling cards on remittances. Please click here to see the promotion.

Don’t miss out on the offers!

Increasing your Remittance Value

Sending money home is always a tricky proposition, especially when you send it frequently and you can’t time the foreign exchange rate movement to get the best value, but here are ways you can better manage your remittances and get a fair remittance value out of it. Now, what is ‘Remittance Value’^©? it is the ratio of cost of remittance divided by time value associated with the remittance. Here we have put a few pointers on how to get the most of your Remittance Value^©.

Click to continue reading “Increasing your Remittance Value”

GBP – INR Forex rates on 12th June 2009

The GBP-INR FX rates as displayed by various Indian Online Money Transfer service providers are as per the below table -

Operator	Inter Bank Rate	Display Rate	% Margin	Paise Margin
Barclays Online MT	INR 78.63	INR 77.90	0.92%	INR 0.73
HDFC Quick Remit	INR 78.63	INR 77.66	1.23%	INR 0.97
Remit2India	INR 78.63	INR 77.86	0.97%	INR 0.77
Money2India	INR 78.63	INR 77.28	1.71%	INR 1.35
Axis Remit	INR 78.63	INR 77.97	0.83%	INR 0.66
OnlineSBI	INR 78.63	INR 77.57	1.34%	INR 1.06
Bank of Baroda	INR 78.63	INR 76.96	2.12%	INR 1.67
CitiNRI	INR 78.63	INR 77.16	1.86%	INR 1.47

The rate are as of	1:07 PM	12-Jun-09

Disclaimer – The display rates shown in above are for illustration purposes and amy not be applicable to transactions process on the mentioned day or date. We do not claim any responsibility towards the correctness of the data presented here. The data has been colledcted from various websites and we do not solicit any transactions or remittances based on the above representation.

GBP to INR forex rates on 8 May 2009

The GBP to INR foreign exchange rates as displayed on various online money transfer services and banks -

Operator	Inter Bank Rate	Display Rate	% Margin	Paise Margin
Barclays Online MT	INR 74.11	INR 74.00	0.14%	INR 0.11
HDFC Quick Remit	INR 74.11	INR 73.27	1.13%	INR 0.84
Remit2India	INR 74.11	INR 73.32	1.06%	INR 0.79
Money2India	INR 74.11	INR 73.34	1.03%	INR 0.77
Axis Remit	INR 74.11	INR 73.46	0.87%	INR 0.65
OnlineSBI	INR 74.11	INR 73.59	0.70%	INR 0.52
CitiNRI	INR 74.11	INR 72.72	1.87%	INR 1.39
Bank of Baroda	INR 74.11	INR 73.80	0.41%	INR 0.31

The rate are as of	10:52 AM	8-May-09

GBP-INR Foreign Exchange Rates on 7 May 09

The GBP to INR foreign exchange rates as displayed on various online money transfer services and banks -

Operator	Inter Bank Rate	Display Rate	% Margin	Paise Margin
Barclays Online MT	INR 74.64	INR 74.00	0.86%	INR 0.64
HDFC Quick Remit	INR 74.64	INR 73.91	0.98%	INR 0.73
Remit2India	INR 74.64	INR 74.15	0.66%	INR 0.49
Money2India	INR 74.64	INR 73.34	1.75%	INR 1.30
Axis Remit	INR 74.64	INR 74.31	0.45%	INR 0.33
OnlineSBI	INR 74.64	INR 73.71	1.25%	INR 0.93
CitiNRI	INR 74.64	INR 72.84	2.42%	INR 1.80
Bank of Baroda	INR 74.64	INR 73.42	1.64%	INR 1.22

The rate are as of	10:46 AM	7-May-09

Remit2India: Money on Referral

Remit2India launched on 28th April 09, a new referral program targeted to increase business via new customers. The program is called “MORE Friends = MOR Money“

With MOR, the program claims that you will make money on referrals as well as your friend’s first transaction through us. For every friend that you refer, your Remit2India account^* will be credited with INR 150 (US$ 3 approx.) immediately.

Immediately after your friend completes his first transaction through Remit2India, your MOR statement^* will be again credited with a further amount of INR 350 (US$ 7 approx., the account or stament is not clear)

To know more about the offer please click here.

There were no terms and conditions available on the referral promotion page for review at the time is article was published. * – Remit2India account is not clear since the service does not operate any known e-wallets. The site mentions that the referral amount can be added to the next transaction.

Fx Rates for remitting Money to India on 29 Apr 09

The forreign exchange rates as displayed on online money transfer operators for India are -

Operator	Inter Bank Rate	Display Rate	% Margin	Paise Margin
Barclays Online MT	INR 73.08	INR 73.20	-0.17%	-INR 0.12
HDFC Quick Remit	INR 73.08	INR 72.95	0.17%	INR 0.13
Remit2India	INR 73.08	INR 72.91	0.23%	INR 0.17
Money2India	INR 73.08	INR 72.00	1.48%	INR 1.08
Axis Remit	INR 73.08	INR 73.07	0.01%	INR 0.01
OnlineSBI	INR 73.08	INR 72.81	0.36%	INR 0.27
CitiNRI	INR 73.08	INR 72.20	1.20%	INR 0.88
Bank of Baroda	INR 73.08	INR 72.44	0.87%	INR 0.64

The rate are as of	8:18 AM	29-Apr-09

FX Rates on 28 April 09

The displayed rates on Online Money Transfer portals are -

Operator	Inter Bank Rate	Display Rate	% Margin	Paise Margin
Barclays Online MT	INR 73.08	INR 72.90	0.24%	INR 0.18
HDFC Quick Remit	INR 73.08	INR 72.59	0.67%	INR 0.49
Remit2India	INR 73.08	INR 72.60	0.65%	INR 0.48
Money2India	INR 73.08	INR 72.00	1.48%	INR 1.08
Axis Remit	INR 73.08	INR 72.76	0.43%	INR 0.32
OnlineSBI	INR 73.08	INR 72.81	0.36%	INR 0.27
CitiNRI	INR 73.08	INR 72.20	1.20%	INR 0.88
Bank of Baroda	INR 73.08	INR 72.26	1.12%	INR 0.82

The rate are as of	10:50 AM	28-Apr-09

India’s Rupee May Advance to 47 in Six Months: Barclays

April 17 – India’s rupee may strengthen almost 6 percent to reach 47 a dollar in six months on better prospects for global growth and an increase in foreign investment, according to Barclays Plc.

Asia’s third-biggest economy may see a recovery in the three months ending Dec. 31, after the growth rate reaches a “bottom” in the prior quarter, helping the nation post a balance of payments surplus in the second half of the year, Sailesh Jha, an economist at the world’s third-largest currency trader, wrote in a research report dated yesterday. He had forecast last month that the rupee would drop to a record-low 56 by end-June.

“In our view, the government believes that the worst of the slowdown in growth is over,” Singapore-based Jha wrote. “The risks to our growth forecast are tilted to the upside versus our previous assessment of risks to the downside.”

The rupee traded at 49.77 per dollar as of 10:34 a.m. in Mumbai, according to data compiled by Bloomberg. It has rallied 5 percent since touching a record low of 52.185 on March 3.

The median estimate of 25 strategists surveyed by Bloomberg News is for the rupee to weaken to 50 by end-September and to reach 48.98 by the end of the year.

Click to continue reading “India’s Rupee May Advance to 47 in Six Months: Barclays”

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Pakistan Remittance Initiative

Remittance Offers in this Diwali Season

Increasing your Remittance Value

GBP – INR Forex rates on 12th June 2009

The GBP-INR FX rates as displayed by various Indian Online Money Transfer service providers are as per the below table -

GBP to INR forex rates on 8 May 2009

GBP-INR Foreign Exchange Rates on 7 May 09

Remit2India: Money on Referral

Fx Rates for remitting Money to India on 29 Apr 09

The forreign exchange rates as displayed on online money transfer operators for India are -

FX Rates on 28 April 09

The displayed rates on Online Money Transfer portals are -

India’s Rupee May Advance to 47 in Six Months: Barclays

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