1 - Foreign Exchange INCREASE profits: How to maximize profits and reduce the leak in revenue. Importers & Exporters be advised.

3923 reads


A business is run to be profitable. How many times we question the exchange rates given by banks? This leads to losses of hundreds of dollars on each transaction. Most firms and companies are blissfully unaware that they are leaking profits. 

Why pay more? Is that not a key element when doing business. Foreign exchange is no exception. 

A simple way is to use the assistance of an expert in this field to track rates, negotiate with banks and pay the least spread on your foreign exchange conversion. 

A saving of 20 paisa on a transaction of 10,000 dollars saves you Rs 2000/-  


Turn over of 5 crores increase profit by 2.22 lakhs. Turn over of 10 crores a profit increase of 4.44 lakhs and Turnover of 50 crores a profit increase of 22.22 lakhs.


The above table shows potential savings achievable on taking a small step in managing your foreign exchange. However diverting from your core business strength is not the way to go about this. Empanel an expert to assist you and increase profits, while you were wondering all the time where the profits went.

About the author:  Dominic Christy a professional banker for over 20 years with expertise in Foreign exchange and  Treasury Management and a well-rounded experience in project finance and banking laws. He has established a firm DAC Consulting to provide professional and timely advise to firms and corporate's. For a free consult, write to dominic@dacconsulting.in. The author invites requests from readers to suggest topic they may wish to have clarity on.


Future posts: 

Hedging of foreign exchange risks.

FEMA and you.

Banking laws, where do you find assistance.


cryptocurrency's picture

YouToken Disrupts FinTech and Crowdfunding at 2018 Global Blockchain Forum

YouToken (YTN) presented their innovative blockchain-based crowdfunding platform to over 1,400 attendees at the 2018 Global Blockchain Forum in Santa Clara, California.Dozens of promising startups attended the event with YouToken leading the way in
Ron Kaufman's picture

The Six Disruptors of Customer Experience

UP! Your Service is a global education and consulting company. We help leaders and companies all over the world achieve two primary outcomes: First, improve your customer’s experience – to help you attract customers, keep customers, generate
businessstandard's picture

Programmatic is transparent, but post-delivery: Vertoz CEO Ashish Shah

 Start-ups take faster to programmatic than regular consumer product firms, Ashish Shah tells Vanita Kohli-KhandekarIs programmatic useful from a brand building perspective?If you have to buy space in Business Standard or Times of India for 30
davecrenshaw's picture

Why “ASAP” isn’t clear communication—and what to use instead

Recently, I found myself saying the very word I’ve cautioned others against using many times. Here’s what happened. I noticed something was wrong on my website, so I reached out to my project manager, John. John’s a reliable guy and I knew he could
vsquare's picture

10 Steps for Business to be successful | Startup Success Formula | Dr Vivek Bindra

From: youtube.com By Dr. Vivek Bindra: Motivational SpeakerRecommended by: vsquare10 steps tor creating a successful business. You can use these steps to be successful. In this video, Dr Vivek Bindra outlines 10 revolutionary steps for business
jackcanfield's picture

Activating the Power of the Subconscious Mind

The untapped power of the subconscious mind can lead you to new success in your personal life and business life. Discovering how to turn your thoughts into positive and implementing the law of attraction into your daily life can take you to new
pradyumnanag's picture

How is it cheaper for Google to buy Groupon than internally build something like it?

 May be covered in some answers already by some fantastic answers.Just elucidating instead of replying on each of the posts. Though I may have my own personal reservations on the business model per se, they have been able to achieve something
changethis's picture

Willpower Is an Outdated Model of Success: Here’s the Future of Self-improvement

“It’s no wonder willpower has been placed under the media spotlight as essential to success. In a negative environment, willpower’s all we have left. It’s the life-raft, the backup parachute. And we’re depending on it to save our skins. It takes a
harvardbusinessreview's picture

How to Use Employee Referrals Without Giving Up Workplace Diversity

Incentivize employees to refer more women and people of color.