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Why does the value of Indian rupee fall 2018?

Over the past few years, the value of Indian rupee has been plummeting fast against the US dollar. And the falling value of a rupee means less export/import power in the hands of people as well as the government. Which in turn makes the nation financially weaker, hampering the prospects of international trade and currency exchange rates.

Here are a few factors that change the dynamics of the Indian economy.

Crude oil: With the fast development and growth of the Indian economy, the demand for petrol and petroleum products has been consistently rising. India produces about 20% crude oil we require, and the rest is imported from Saudi Arabia, Iran, and other Gulf countries. Reputed oil companies of India require millions of dollars every day in order to import crude oil and gas. Thus, the increase in the demand for the dollar leads to its appreciation and decrease in the value of the Indian rupees.

Trade Tensions: The policies of the US President have had an impact on the dollar as wel

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Ways to Save When Exchanging Foreign Currency

Increase in population has made international tourism in India a bright industry. However, Indian travelers have forgotten the crucial aspect of foreign exchange. Here are a few hacks one should consider to ensure   best value for their money, while traveling to other countries on business or leisure.

  • Say no to the counters at airports: The foreign exchange counters at airports provide a premium of 10 to 13% over the usual exchange rates, and this will only reduce the amount of currency one has at their disposal during their trip. A foreign exchange counter at airports is simply waiting to exploit a desperate traveler. So be smart and buy foreign currency 3-7 days before the travel, and stay away from the foreign exchange counters at airports.
  • Use a smarter way to carry currency: Travelers still carry cheques and it is an antiquated way to carry foreign currency. Switch to forex cards, as these cards have multiple benefits over traveler’s cheques. When encashing a substantial amoun
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How Fluctuating Currency Rates Affect Holiday Tour?

Rise and fall, variation or shift in the floating exchange rate system is a norm in the case of most major economies. The currency’s value goes hand in hand in accordance with the foreign-exchange market. International money exchange rates are affected by numerous factors that are usually in a state of perpetual flux. These include interest rate differentials, economic performance, supply and demand of the two currencies, and inflation. If you run a travel business, you’ll directly be impacted by fluctuating currency rates. The relative strength, or lack thereof, of the dollar against other major currencies will dictate your business traffic.

Travel Trends: A Lot of people travel for leisure than for business. Travel, just like any other activity, experiences trends that tend to develop based on various forces. Unsurprisingly, trends can be set by the media. Specifically, travel media may establish some trends based on tourism surveys and other professional research, developing campai

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Tips to Avoid Money Mistakes While Travelling Foreign

Travelling is all about experiencing something new. It’s about discovering something magical. And it’s about cherishing every moment. If not planned well, travelling can take a toll on you and end up as bitter memories. Speaking of planning, one of the key things to consider for a safe, happy and stress-free journey is to plan your finances. Among the most important, after your documents, financial planning (includes multi currency travel card, foreign exchange, dollar exchange, etc) can either make your holiday or break it. Simply because a trivial error can lead to a massive inconvenience.

Here are a few common finance mistakes to avoid when travelling abroad:

Carrying cash: Carrying cash is good, when it is limited. Stuffing your wallet or backpack with the entire trip’s budget is simply unsafe and stressful. Which is why using a multi-currency travel card can help. You can load as much money as you wish and use it whenever and wherever the need arises, without having to run to th

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Smart Uses for Leftover Foreign Currency

Travelers have few things in common.  And most of you will be familiar with that loose collection of small notes and rubble of change nestled in the bottom of your backpack. It’s a motley accumulation of currencies from your travels around the world.

Here are few options you can consider using it well

Exchange with a travel buddy: You could give a small number of euros to a friend planning a trip to Europe or sell larger amounts if you have them. Online travel forums are another way to connect with travelers looking to buy or sell excess forigen currency, and coin shops may be

Prepare for next time : To avoid the leftover travel cash headache on your next trip, order a currency card. Your card will be valid for 3 years after which you can simply renew, so keep your leftover travel money on your card until your next trip.

Currency conversion day: Dig up all your coins and change, and take it to a money exchange outlet to convert into local currency. At the very least, it’ll buy you

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Axis Bank Multi Currency Travel Card

Travel Money India offers you Axis Bank Multi-currency Forex Card. The Axis Bank multi currency Forex Card lets you load multiple currencies on a single card so you don’t have to carry multiple cards for different destinations. Thereby making it a convenient way to carry forex and make payments while travelling to multiple countries.

Travel Money India offers you Axis Bank Multi-currency Forex Card. The Axis Bank multi currency Forex Card lets you load multiple currencies on a single card so you don’t have to carry multiple cards for different destinations. Thereby making it a convenient way to carry forex and make payments while travelling to multiple countries.

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