Foreign Exchange in Dubai

The foreign exchange involves money transfer from local currency to foreign currency or vice versa. Companies assist their clients in conducting money transfers on a large scale. They set terms and conditions for clients which are in favor of both parties. They help migrants and tourists in conducting money transfers through net banking and other forms of e-commerce. Some companies also help clients to transfer shares; they help customers reserve foreign currency for travel. Most foreign exchange firms are located at airports and docks to aid tourists and immigrants in money transfer.

The staff who work in foreign exchange companies are up to date with the international market value of foreign money with respect to local currency. They assist customers with both online and offline money transfers, some companies provide services without service cost or commission charges. Some big foreign exchange companies have tie-ups with other money transfer companies, agents and brokers to provide a hassle-free experience to the customer. Agents collect information from the customer and understand his needs; they issue a reliable solution to clients with exchange rates and delivery time. Some agents study the global market closely and suggest an ideal time for the clients to initiate money exchange to reap the best benefit. Some foreign exchange companies issue credit and debit cards for customers with respect to local denominations. They also help non-residents and immigrants set up bank accounts in foreign nations.

Foreign exchange companies provide competitive exchange rates, spot contracts, forward and limit available orders and provide weekly updates on exchange rates. Some companies do not charge rates for overseas money transfers. Foreign exchange fixing is a monetary exchange rate which is fixed by the national bank for each currency. Central banks, overseas merchants, offshore company owners and logistics companies are benefited with the services provided by the foreign exchange companies. Money transfer companies perform high volume and low volume transfers by migrants at their home country. The three main services provided by money transfer companies are no transfer fee, first transfer fee and low transfer fee service. In the no transfer fee service companies provide exclusive offers which do not involve in any service cost. Some popular locations to conduct foreign exchange and money transfer in Dubai are Al Sayegh centre, Sheik Hamdan Street, Deira, Al Daghaya, Deira Souq, Sheikh Zayed road, Satawa, Baniyas road, Al Rigga road and Al Murar.