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Cancelled trips damage $60 billion forex market

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The travel industry and its ancillary sectors have been the worst hit amid the covid-19 crisis After working with companies such as Thomas Cook, Centrum Direct, and BookMyForex, Prince Chhabra started his own forex firm less than two years ago.

Go Forex Pvt. Ltd’s trading outlet in Gurugram employs six. The business crashed in March as people started cancelling their overseas travel plans and tourists stopped visiting Delhi—even before the lockdown took hold. “From 15 March, there were no transactions.

I don’t know how to pay salaries, rentals. In March, I paid my employees. I might deduct salaries in April because the entire industry is doing that," Chhabra said.

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