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Where to get best forex rates
jerry
#1 Posted : Thursday, November 07, 2013 9:18:46 PM
Rank: Elder


Joined: 9/29/2006
Posts: 2,570
..."Forex bureaus are licensed to cater specifically for the retail end of the forex market, i.e. buyers and sellers of small amounts of forex, mainly cash. Bureaus therefore often have favorable rates for this market segment when compared to commercial banks’ cash rates.

The commercial banks are more competitive when dealing with larger amounts of forex that are settled via telegraphic transfers using correspondent accounts abroad and therefore tend provide finer rates for this market segment. Nevertheless, all forex deals are transacted on a willing buyer willing seller basis and are subject to negotiation between the forex dealers and their customers."

The above is quoted from http://www.centralbank.g...istics/exchange-rates-2
Where can I buy (say 10,000) dollars cheapest?
The opposite of courage is not cowardice, it's conformity.
tassia
#2 Posted : Friday, November 08, 2013 12:03:37 AM
Rank: Member


Joined: 4/25/2011
Posts: 368
Location: Nairobi
Yes. Banks have better rates than Bureaus when dealing with large transactions and this does not always have to be the case of telegraphic transfer. When you have large amounts, you can either negotiate directly with the treasury department of a bank or ask the person you are dealing with in the bank to let the treasury department the amount you expect. For amounts 10,000 and above, I used to negotiate with treasury at NIC and get better rates. However, most Banks prefer making these kinds of deals with account holders. For Amounts less than 10,000. I have found bureaus on Kaunda Street (Section between Kimathi Street and Wabera Street) to have the best rates in town. They are about five and all but one are owned by Warias. I prefer one as you approach NIC bank from Kimathi street because of good customer service.
Bureaus outside town are expensive.
jerry
#3 Posted : Friday, November 08, 2013 10:59:22 AM
Rank: Elder


Joined: 9/29/2006
Posts: 2,570
@tassia, Thanks for precision. I will visit one of the NIC branches in the countryside! since I'm not in the city.
The opposite of courage is not cowardice, it's conformity.
jimmy1
#4 Posted : Thursday, November 14, 2013 1:36:10 AM
Rank: Member


Joined: 2/11/2011
Posts: 240
Location: jamuhuri ya kenya
if in nairobi check the bureaus at 20th century building ground floor, there is one called peaktop & usually has better rates than the others. If you have an account at equity bank they also give good rates, but you have to call a few bureaus & find out what rate the bureaus are giving before negotiating with equity's treasury department. The treasury will give you a reference number once you agree on the rate, valid for 24hrs
essyk
#5 Posted : Monday, April 19, 2021 6:18:50 PM
Rank: Elder


Joined: 11/15/2011
Posts: 4,510
How can such a good thread be this cold.waa.
Or am I in the wrong thread.
Anyway,if any of the verified traders here and I know them( if you have a funny name or newcomer pls I don't need stress)
has a good sell rate for euro pls reach out.I know today is at 130/1..Target is around 127.Amt to buy €15000.I will be your client.
"The true measure of a man is how he treats someone who can do him absolutely no good.
mungaits
#6 Posted : Sunday, May 09, 2021 8:03:20 AM
Rank: Member


Joined: 9/20/2007
Posts: 252
Hi

Try Alpha forex in Westlands
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