Foreign Exchange Guide to India
In this guide we review :
- Travelling in India - Practical tips
- Buying Indian Rupee Cash Online - Travel money for India
- Indian Rupee (INR) - Currency Market News
- Sending Money to India - Save on Indian Rupee bank transfers
- Indian Rupee Exchange Rates - Latest info & charts.
India Travel Practical Tips
India is a vibrant, colourful, and fascinating country to explore but can be a little intimidating for first time visitors. There are many magical places to visit so try to make a point of staying at least two nights in any one place. You will be using the local currency (rupee) on the street, however credit cards are now widely able to be used at the more expensive locations. Though depending on your security concerns purchasing a Prepaid Travel Card before heading there may ease your mind. Never exchange foreign currency on the street.
For getting around cities its rickshaws, they are old looking but very cheap, and definitely add to the experience. On arriving at an airport you can avoid the crowd of taxi drivers waiting outside by going to a pre-paid taxi counter inside the terminal. There you can purchase a fixed price fair to the hotel you want, pay on the spot, and they will give you a green slip. Then you can head outside and once the less scrupulous drivers see you holding a pre-paid slip you won't get swamped with offers. For longer distance travels both bus and train are available and most hotels will be happy to organise this for you as they generally get a cut of the action. The are also many small travel shops everywhere that will do this also but they may over charge. Trains are available as well and can be a good way to get around. Be aware however that they can be extremely crowded and often booking ahead at least a day or two is required. Another good option is you intend to travel around within a state for a few days is to hire a driver. This not expensive and certainly can make life easier. Only drink from bottles water and make sure it is properly sealed when you buy it. As tasty as it looks, don't eat from street vendors, and try to eat food you know has probably been prepared properly.
For a long time flights within India have been expensive and most travelers went by the bus system or by train. Now however, flights to major cities are very affordable and convenient, and can save a lot of time seeing more of the country. Doing a bit of looking around online can save you a lot of money on flights.
For women travellers you'll need to prepare for being stared at, this is usually out of curiosity more than anything else, and you will get used to it very fast. Dress conservatively, loose ankle-length pants or skirts, tops that cover your shoulders and shawls to avoid to most unwanted attention, and avoid travelling alone during festivals when thick crowds can be used as an excuse for a pinch or two.
Travel Money for India - Indian Rupee (INR)
Save money and time by Ordering your Indian Rupee Online from Travelex, you get better rates and can pick up the INR cash locally or even on travel day at the airport.
Another popular option is to use a Pre-paid Travel Card. Your Debit/Credit Card provider will charge you 2% from market mid-rate, but your bank may also charge an extra 3% as an “Overseas Transaction Charge” plus “Overseas ATM” fees for withdrawing cash.
For card purchases if offered a choice of currencies always select to Pay in Indian Rupee otherwise you may get much worst exchange rates.
Indian Rupee (INR) - Currency Market News
The rupee had a difficult September, ending the month at 65.44 per dollar, which meant that it had given back 40% of the 2017 gains it once held over USD (the rupee had been as strong as 63.53 per dollar on August 3rd).
The rupee had been one of the stars of the early part of the year, strengthening 6% against the dollar between January and April. However, between May and August, seasonal factors and a drop in market volatility meant that USD/INR spent much of the June-August period drifting sideways along the 64.0 handle.
While we could blame Donald Trump for the rupee’s September nosedive (Trump reignited the US reflation trade with September’s proposed corporate tax cuts) the reality is that the rupee remains weak by recent standards against many of the majors, especially the Canadian dollar, euro and British pound.
In September, AUD/INR once again tested 52.0, and once again was repelled. This resistance level is one of the strongest in FX and a break above it could see the rupee enter a long-term decline against the Australian dollar.
Sending Money to India
When sending money to India it’s important to compare your bank’s rates & fees with those we have negotiated with our partner money transfer providers. To get a better deal you should follow these 3 simple steps :
- Open an account with a provider (id docs may be required)
- You specify the local or Indian Rupee amount you want to transfer
- Make a local currency domestic transfer for the requested amount to the provider's bank account in your country
- Once your funds are received by the provider the converted INR amount will be transfered to the recipient account you specify in India.
You can save around 5% and maybe more - end result is more Indian Rupee deposited into the recipient bank account in India and less margins and fees kept by the banks!Compare Transfer Exchange Rates to India