Postal Dept opens Foreign Currency Exchange counter

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Anupam Bhagria

Posted online: Saturday , May 17, 2008 at 12:39:42
Updated: Saturday , May 17, 2008 at 12:39:42

Ludhiana, May 16 The Department of Posts has opened a Foreign Currency Exchange Counter for its customers at Head Post Office, Bharat Nagar. The counter has been opened for facilitating people with various services related to foreign currency.

The counter came up on April 30. In Punjab, these counters have been opened in three cities, viz. Ludhiana, Jalandhar and Amritsar. These is one such counter at Chandigarh too.

The counter provides various types of services. These are telegraphic wire transfer, sale/exchange of foreign currency, sale/exchange of traveller’s cheques, sale of foreign currency denomination, demand draft, transaction against international credit cards, sale of store value cards. For these services, the Department of Posts has collaborated with Centurian Bank of Punjab.

An employee of the Postal Department said, “This is a revenue generating service, and the department will get 50% commission on total earnings.” The sources revealed that by now, foreign currency of more than 1.50 lac has been exchanged. Under sale and purchase, currency of about 3,800 dollars has been transacted,” he revealed.

Earlier, this service was available only in banks.

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