Money Exchanges

Money exchanges in Kerala are institutions that provide foreign currency exchange services to individuals and businesses. They facilitate the exchange of currencies for travel, business, and investment purposes. Here's a brief history and summary of money exchanges in Kerala, as well as the top companies in the industry:

History of Money Exchanges in Kerala:
Money exchange services in Kerala began in the 1970s, with the establishment of foreign exchange dealers in major cities such as Kochi, Thiruvananthapuram, and Kozhikode. However, the industry witnessed significant growth in the 1990s, with the liberalization of the Indian economy and the increase in foreign travel and investment.

Summary of Money Exchanges in Kerala:

Top Money Exchanges in Kerala:
a) UAE Exchange
b) Western Union
c) Thomas Cook
d) Cox & Kings
e) Muthoot Forex

Services Offered:
a) Foreign currency exchange
b) Travel insurance
c) Money transfer services
d) Prepaid travel cards

Benefits of Money Exchange Services:
a) Convenience: Money exchange services provide convenient access to foreign currency for travel and investment purposes.
b) Competitive Rates: Money exchange companies offer competitive exchange rates, making it easier for customers to get the best value for their money.
c) Safety: Money exchange services ensure the safety of transactions and protect against fraudulent activities.

Regulations:
Money exchange services are regulated by the Reserve Bank of India (RBI) and must comply with the Foreign Exchange Management Act (FEMA) regulations.

Top Companies in the Money Exchange Industry:
a) UAE Exchange
b) Western Union
c) Thomas Cook
d) Cox & Kings
e) Muthoot Forex

Overall, money exchange services have become an important part of the financial landscape in Kerala, providing individuals and businesses with convenient access to foreign currency. While money exchange services offer several benefits, customers should carefully evaluate exchange rates, fees, and safety protocols before engaging with a service provider.

Directory of Money Exchanges in Kerala with their website links.