Myforexeye intends to support MSME's in managing various forex related issues
New Delhi: Myforexeye, India's leading technology led forex player has stepped up to offer its expertise and bouquet of services targeting the MSME sector. The company will aid the MSMEs in managing various critical issues such as high interest costs on forexloans, credit advisory from subject matter experts and growing complexities in forex transactions.
Industrial hubs within the region that houses MSMEs belonging to various sectorssuch as automotive, textile and readymade garments, leather goods, engineering, etc. These MSMEs are hard-hit by the pandemic and also due to high interest costs resulting out of higher debtor cycles which is hurting their bottom line. The volatile currency market is creating confusionfor exporters and importers. The limited capability to handle volatile forex markets leads to losses.
"MSMEs are hard hit by the pandemic. While government is doing its bit, high interest rates,opaqueness in forex transactions and limited understanding of the forex market hurts the MSMEs. Myforexeye experts will counsel MSMEs by guiding them on innovative ways to reduce the interest burden and bolster their profitability. Myforexeye mobile app will play asignificant role in providing latest information on forex trends and rates and help reduce theinformation barrier. In addition, Myforexeye will also organise knowledge seminar series with forex experts to bridge the information gap and reduce ambiguity around forex transactions," says Anand Tandon, founder of Myforexeye.
Myforexeyehas enabled real time forex solutions that have benefitted over 4000 organisations over the last 7 years, having done around 86,000 transactions of over $9 bn resulting in a savings worth $160 mn for itsclients. Myforexeye is a fully authorized money exchanger regulated by the Reserve Bank of India.
The company offers first-of-its-kind forex services and solutions to clients through an innovativemobile app - 'Myforexeye'. Some of its cutting- edge services and solutions include online buyingand selling of Forex, Transaction Process Outsourcing (TPO), Transaction Forex Risk Management, International Trade Finance, Forex Trading, Wealth Management using forex as an asset class.
