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Post # 1
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Join Date: 02 Jan 2012
Location:  Saudi ArabiaPosts: 1 |
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Difference in Exchange Rate |
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Why the exchange rate of Saudi riyal to INR is higher compared to the rate shown in the internet (i.e) cionmill.com, etc for transfering money to India. As on date the rate is 14.21 in the internet, but saudi banks are only offerring from 13.97 to 14.03 only for every riyal.
Already they are charging 16 to 22 riyal as their commission, still they r making profit in the rateas well. These rate differences making huge impact for those who sent bulk amounts to India. Pls. explain with reasons if anyone knows. Thanks. If such case is compulsory which we need abosrb in KSA due the Banking Law, what are the other options available to tranfer money with the prevailing market rate. Pls. advise |
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