introduces India’s first e-commerce website on foreign exchange

Breaking Tourism News (BTN India)
Along with the surge of outbound tourism, India has witnessed foray of several travel related e-commerce portals to facilitate the travelers in every way, right from booking air tickets, hotels, cruises to cab booking etc. Foreign exchange which is an integral part of any travel abroad, thus far, has not seen an Internet based solution. has been introduced to fill exactly this need gap. The website is poised to become India’s first full featured money exchange & foreign remittances portal offering users the convenience of booking foreign exchange products and foreign money transfer orders online. offers a full suite of forex services & product offerings that consists of currency notes, prepaid travel cards (forex cards), traveler’s cheques, foreign currency demand drafts and foreign currency wire transfers. Its interactive portal guides visitors through the order booking process step by step, ensuring a pleasant user experience and guaranteeing compliance with all applicable laws and regulations.
The company offers one standard rate for each currency & product across the country. For the first time in India, customers have the option to book currency at live and real-time market rates. Customers can even freeze the currency exchange rates for as many as 3 working days. To provide their services through a vast network, the company has done an exclusive tie up with Axis Bank. The tie-up allows to fulfill forex orders from all Axis Bank branches nationwide, effectively making BookMyForex’s network of over 1700 locations, the largest in India.
Sudarshan Motwani, CEO & Founder, says “The foreign exchange markets in India have lacked standardization in exchange rates and regulation requirements. Exchange rates can vary wildly from 0.5% margin to over 5% margin between different money changers and documentation requirements for different forex transactions may also vary between different Banks and forex dealers. A forex deal therefore often ends up requiring a lot of time as customers haggle for the best currency rates and go through multiple back and forth’s to acquire appropriate documentation to process their order. BookMyForex was born with the goal to address exactly these issues. BookMyForex aims to bring standard and extremely competitive currency rates across India. Our online order booking process also provides customers with the exact documentation requirement that is required to complete an order swiftly and smoothly. The company’s long-term vision is to create a much more organized and customer friendly foreign exchange and remittances market in India.”

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