Foreign Exchange Dealers In India
Foreign Exchange in India has always been the playground of banking institutions. No doubt therefore that the major foreign exchange dealers in India are banks. All the major foreign exchange dealers in India are members of the Foreign Exchange Dealers Association Of India. This article presents three popular foreign exchange dealers from the ranks of this association.
The first name that finds a prominent mention among the major foreign exchange dealers in India is BNP Paribas. The bank has a long relationship with India. It came to India in 1860 while it was still known as 'Comptoir National dÂ'Escompte de Paris'. Today, BNP Paribas is second oldest foreign bank that is functional in the country. The dealer has branches in all the metro cities and mini metro cities in India.
As of 2006, the global income of the bank was 7.30 billion Euro and it has 138,000 employees on its payroll all over the world. The fact that this bank is present in 87 countries and is the largest bank in the Eurozone, gives it an unparalleled experience in the area of foreign exchange trading.
The second name which finds a mention among the prominent foreign exchange dealers in India is American Express Bank Limited. The organization is involved in a number businesses like credit card and traveler's checks. This makes it one of the most experienced foreign exchange dealers of India. American Express is based in New York, USA. It has offices in all the major cities of India. The only place where this dealer needs to improve is its charging structure. Its prices can be more economical. American Express has been regarded as the fifteenth most valuable brand in 2007 according to a study conducted by BusinessWeek and Interbank. Despite its prices which are a bit on the higher side, American Express has established a name for itself due to its excellent customer service and overall service reliability. Another member of the elite club of foreign exchange dealers in India is Bank of America N.A. Not only is the Bank of America, the largest commercial bank in the United States, but also the biggest of its kind in the world. In 2006, the revenue of Bank of America was $117.01 billion. No wonder the Bank of America has a very respectable position among the foreign exchange dealers in India.. The Bank of America itself contributes to the foreign currency inflow in India through its offshore operations based in India. Al these organizations have an international presence. This provides them a unique edge over those foreign exchange dealers in India who are native Indian organizations. They are able to provide a world class service resulting in high levels of customer satisfaction.
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