July 14, 2020
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Ebix to buy Centrum’s forex business - The Economic Times

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Forex sellers at airports keep a margin of 16-18%, money changers charge up to 3.5% and banks up to 2.5%. But online sellers typically work on margins of 0.5% above the interbank rate

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Centrum Direct, which specializes in travel-related forex services, is the largest revenue generator for the group. In 2015-16, it generated sales revenue of Rs3,893 crore with a profit after tax

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Diversified financial services player Centrum Group has decided to exit the forex business under the brand name Centrum Direct by selling it to Atlanta-based Ebix Inc. for around Rs 1,200 crore. Centrum Group exits its forex business, Centrum Direct and sells it to Ebix.

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