Gurugram, July 20, 2021: Myforexeye, India’s leading technology led forex player has stepped up to
offer its expertise and bouquet of services targeting the MSME sector in the Gurugram region. The
company will aid the MSMEs in managing various critical issues such as high interest costs on forex
loans, credit advisory from subject matter experts and growing complexities in forex transactions.
Gurugram is a major industrial hub of the country that houses MSMEs belonging to various sectors
such 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 confusion for exporters
and importers. The limited capability to handle volatile forex markets leads to losses.
This is where Myforexeye intends to tap the underserved MSME sector and is committed to serve
over 65000 MSMEs in the region over the next 2 years. Aligning with the government’s ‘Digital India’
program, Myforexeye mobile app will facilitate 24×7 services that will help MSMEs minimise costs &
expenses thereby providing them with more working capital.
Commenting on the services being offered, Mr. Anand Tandon, Founder & CEO, Myforexeye,
“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 in the Gurugram area by guiding them on innovative ways to
reduce the interest burden and bolster their profitability. Myforexeye mobile app will play a significant
role in providing latest information on forex trends and rates and help reduce the information barrier.
In addition, Myforexeye will also organize knowledge seminar series with forex experts to bridge the
information gap and reduce ambiguity around forex transactions.”
Myforexeye brings in its proven domain expertise coupled with technology enabled real time forex
solutions that have benefitted over 4000 organizations over the last 7 years, having done around
86,000 transactions of over US $9 bn resulting in a savings worth US $160 mn for its
clients. 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 innovative
mobile app – ‘Myforexeye’. Some of its cutting- edge services and solutions include online buying and
selling of Forex, Transaction Process Outsourcing (TPO), Transaction Forex Risk Management,
International Trade Finance, Forex Trading, Wealth Management using forex as an asset class. The
app provides 21 diverse services including round the clock alerts, real-time rate check, single click
dealer-connect, in-depth research, time-bound activity, rate audit with enhanced user experience,
transparent market operations and a complete audit trail for B2B and B2C segments in India.