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Currency Exchange rates
Posted on 24.08.2004 09:49
Currency Exchange rates
Hi friends,
can somebody suggest me a website where i can find the currency conversion rate information(probably euro-rupee) for the last two weeks.
Regards
Deepak
deepak_bansal
Member since 09.03.2004
onye
Member since 06.12.2003
fredjeffry
Member since 24.06.2004
Posted on 24.08.2004 11:05
Re: Currency Exchange rates
But more realistic rates are shown in the ICICI site:
https://money2indi...ace/NRI_Forexcalc.jsp
-Fred
************************
The realistic prices depends on the bank you are banking on.. I have talked to several banks before deciding through whom i send money. ICICI charges almost 50 to 60 paise per Euro in conversion. It could go upto 1 Rs when you are using CITI bank. I am using Vysya bank and they give me the closest of TT buying price of RBI. less than 10 Paise. But again, the forex rates are so fluctuating, there can be an intra day variation. So we cannot be 100% sure about the market price and the conversion value the bank quotes.
Yeah, all in all rbi.org.in will give you a base price and from there you can judge your bank..
Cheers,
cmreddy
cmreddy
Member since 19.11.2003
Posted on 24.08.2004 11:18
Re: Currency Exchange rates
@cmreddy:
hey, that was really shocking !!
Eventhough ICICI claims that the money2India transfer is "free", i know that they are not doing any social service and will be compensating on the exchange value!
You mean that Citibank deducts more than ICICI? I think its better to rely on Stae Banks or the like!!! If only the online-banking facilities of govt banks were so developed as ICICI !!
-Fred (from TN, India)
- Fred.
fredjeffry
Member since 24.06.2004
Posted on 24.08.2004 12:15
Re: Currency Exchange rates
ICICI gives the best rates among the banks (correct me if i am wrong) and ICICI is also quite good.
Asian
Asian
Member since 24.08.2004
Posted on 24.08.2004 13:03
Re: Currency Exchange rates
Hi All,
Small Tip... If you want to transfer some amount from Your German bank to your Bank in your country(like India), just ask ur German bank not to deduct the transfer rate.. tell them Beneficiary will pay the transfer rate... so you can save some money. As I did many types or transfer from last couple of years. and recently I found the above procedure is good.. for example if u transfer 4000 Euro and here banks will charge atleast 31 to 50 Euros as transfer charge and if u say beneficiary will pay.. they will transfer full amount and in India they will deduct only 12 Euro or less.. it happened for me... so just try this way
Srikanth
vsrikanth9
Member since 17.11.2003
Posted on 24.08.2004 13:36
Re: Currency Exchange rates
Thats correct VSK !
Earlier when I transferred 1000 Eu through my Volksbank account, they charged 23 Eu for the transfer. But if you send a cheque (Verrechnungs scheck) per Post to your parents or someone else, the transfer charges in India come only around 6-8 Eu.
ICICI has the advantage that the money reaches faster. I mean, you just have to transfer the amount to be sent to India to a particular Deutsche Bank account in Frankfurt. The next day when the money is credited there, our account in India will be credited with the equivalent amount in rupees. And they claim "no transfer charges". Of course only hidden charges in the form of bad exchange rates as cmreddy pointed out 
- Fred.
fredjeffry
Member since 24.06.2004
Posted on 24.08.2004 13:48
Re: Currency Exchange rates
Now someone tell us a good way to send money to india if not ICICI bank or RemitTOIndia service. I have bank accounts in netbank (a complete online bank ) and citibank. Any proposaly would be great.
regards
Jani.
b_janardhan
Member since 20.04.2004
Posted on 24.08.2004 13:54
Re: Currency Exchange rates
Money2India or Remit2India or something else is same.. just ask transfer rates... Citibank to Citibank is free they r telling but transfer rate is very poor at citibank.. so just think about it.. ICICI bank is far better than other banks..
VSK
vsrikanth9
Member since 17.11.2003
Posted on 24.08.2004 13:55
Re: Currency Exchange rates
Have patience janardhanaa....
The analysis is going on. In the meantime you can share your experiences with citibank and the netbank if you like.
-Fred 
- Fred.
fredjeffry
Member since 24.06.2004