It is impossible to time the withdrawals to get maximum conversion rate. The best one can do is gauge the trend and prepone-postpone the transaction by 2-3 days. Regards, RightMan
This is what I use http://www.xe.com/ucc/convert.cgi?Amount=1&From=USD&To=INR but paypal rates are less than this.
With FII's pumping in huge quantity of dollars in the Indian stock market, the conversion rate has taken fair amount of beating... quoting at 46.13 in the spot market! Regards, RightMan
FIIs have bought equities worth Rs 17657.60 crores in July month itself and have invested another 864.40 crores on 2 August. So one can imagine the inflow that is gushing in.... everyday and putting the downward pressure on the dollar conversion rate! Regards, RightMan
Not seen much of those, i started IM stuff in 2007, any idea what was the rate then? My account manager in bank does exactly the same for my incoming affiliate commission payments, but he do not wait for 2-3 days, he get it done on same day on best available price.
In January 2007, the rate was 44 and it declined to 39-40 by December of the same year! Regards, RightMan
And I bet... you would be very fondly remembering the heady days of January 2009 as well... when dollar rate was quoting 50+! Regards, RightMan
Yes why not RM. Seen all types of ups and downs during these 6-7 years @Getjimmy - I don't think so that it's possible in near future (at least this year). DON.
If the stock markets have topped out as I believe, we would surely see 47 and a bit more! Regards, RightMan
Looking at huge gush of dollars from FII's, it is no surprise that the dollar rate has broken the 46 level as well... now quoting at 45.95 in the spot market. The question is... where will this slide end? Regards, RightMan