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India - Indian Rupee - Currency Guide

 

Foreign exchange guide to India and the Indian Rupee (INR)

   

General Currency Info - Indian Rupee

The Indian rupee gets its name from the rupiya – a silver coin first produced in the sixteenth century.

Rupee trades make up around 1% of the total volume of the foreign exchange market. This market share is comparable to currencies from other major emerging market economies, such as South Africa, Brazil and Russia, but falls some way short of the 4% share taken by the Chinese yuan – the most actively traded emerging market currency.

When is the Indian Rupee stronger or weaker?

Importantly, the rupee has strong seasonal characteristics. The currency typically falls in value every second-quarter (April-to-June) due to India’s heightened gold demand heading into the Hindu festival of Akshaya Tritiya. Heavy rains between June and September can also depress industrial production in the country and weaken exports, which weigh on the currency.

What are the rupee’s all-time highs and lows?

The rupee’s all-time low against the US dollar came in February 2016 when USD/INR reached 68.80 (INR/USD 0.0145). It's all-time high came in March 1973 when USD/INR traded at just 7.19 (INR/USD 0.139). More recently, since 2007, the rupee was at its strongest in November 2007 when USD/INR fell to 39.10 (INR/USD 0.0256).

Which Indian banknotes were cancelled in 2016?

On 8 November 2016, the Government of India announced the demonetisation of all ₹500 and ₹1000 banknotes of the Mahatma Gandhi Series. The cancelled ₹500 and ₹1000 notes are no longer exchangeable at any bank in India: they have since March 2017 effectively lost all monetary value.

In addition to the 500 and 1000 rupees, the Mumbai-based Reserve Bank of India has decided to withdraw all pre-2005 Indian Rupee notes. These discontinued Rupee bills have no year of issue printed on the back side. These Indian rupees without date on the back are no longer a valid means of payment in India or Bhutan.

Is Indian currency accepted in Bhutan?

Bhutan’s unit of currency is called the Bhutanese Ngultrum (BTN). A Ngultrum has the same value as the Indian rupee, the rupee is also legal in Bhutan.

INR 100 & 50 Rupee denomination may be used in Bhutan, but Ngultrum cannot be used in India. Indian Rupee denomination note of INR 500, INR 1000 and INR 2000 are not accepted in Bhutan.

   

INR News, Forecasts and Trends

NAB told Bloomberg TV that it sees a recovery in Asian currencies in the 2nd half of the year if the coronavirus comes under control.

In 2019 the rupee did remarkably well despite a 35 percent rise in the oil price last year (oil is India's largest import).

In early May 2019, by the narrowest of margins, the rupee reached a 16-month high against the Australian dollar (₹48.4), before falling back slightly. It rose towards long-term highs against the euro (₹77.3) and was flat on the year against the US dollar (₹69.2), although it was 8 percent higher against the greenback than it had been in October of 2018.

For more INR currency market forecasts you can read the full article Indian Rupee Forecasts. The below interactive chart shows the HKD to INR exchange rate, trend and recent alerts for the last 90 days.

   
Recent HKD to INR 90-day trend
 
ALERT:90-DAY LOWS |
HKD/INR at 9.6374 was trading 1.4% below AVG:9.7762 with LO:9.6344 and HI:9.93 (90 days). ALERT: HKD/INR dropped to 90-DAY LOWS.

Hong Kong Dollar to Indian Rupee - Historical Rates

HKD/INR historic ratePeriod
9.7788  22 Jun 20201 Week
9.7438  30 May 202030 Days
9.7181  31 Mar 202090 Days
8.8259  30 Jun 20191 Year
8.2024  01 Jul 20155 Years
5.9883  02 Jul 201010 Years
HKD/INR 10 year historic rates
 

HK$1,000 HKD
=
₹9,630 INR

Converted at HKD/INR wholesale exchange rate, compare foreign transfer and spend/travel exchange rates.

 
 

Hong Kong Dollar to Indian Rupee - Quick Conversions

HKD INR
HK$ 1 9.6301
HK$ 5 48.15
HK$ 10 96.30
HK$ 20 192.60
HK$ 50 481.51
HK$ 100 963.01
HK$ 250 2,408
HK$ 500 4,815
HK$ 1,000 9,630
HK$ 2,000 19,260
HK$ 5,000 48,151
HK$ 10,000 96,301
HK$ 50,000 481,505
HK$ 100,000 963,010
More amounts
HKD INR
HK$ 0.1038 ₹ 1
HK$ 0.5190 ₹ 5
HK$ 1.0380 ₹ 10
HK$ 2.0760 ₹ 20
HK$ 5.1900 ₹ 50
HK$ 10.38 ₹ 100
HK$ 25.95 ₹ 250
HK$ 51.90 ₹ 500
HK$ 103.80 ₹ 1,000
HK$ 207.60 ₹ 2,000
HK$ 519.00 ₹ 5,000
HK$ 1,038 ₹ 10,000
HK$ 5,190 ₹ 50,000
HK$ 10,380 ₹ 100,000
More amounts

Frequently Asked Questions

 

What currency should I use in India?

The domestic currency in India is the Indian Rupee.

What is the Indian Rupee currency code and symbol?

The three letter currency code for the Indian Rupee is INR — symbol is .

Which countries use the Indian Rupee?

It is the domestic currency in    India.

Is the Indian Rupee a closed currency?

Yes the Indian Rupee is a closed currency. Which means that you may find it difficult to purchase the currency (INR) before departure and will probably need to buy it upon arrival. If you do manage to buy some of the currency or have some left over from a previous trip, make sure you are aware if you are allowed to bring this closed currency into the country.

For more information and a full list of closed currencies please refer to our guide: What is a closed currency?

 

Travel, Currency and Money saving tips for India

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 prepaid taxi counter inside the terminal. There you can purchase a fixed price fare 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 prepaid 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 female 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.

Bringing India Rupee Travel Money into India

Only returning residents can bring rupee into India. If you're a foreigner, you can't bring rupee into India with you. There are exceptions if you're a returning resident, you can carry 7,500 INR into the country. There is no restriction to the amount of foreign currency you can bring with you. However, if you're carrying more than the foreign currency equivalent of US$5,000, you'll need to declare the cash at customs when you arrive.

 

Travel money for India

As mentioned above, the Indian Rupee is a closed currency. Which means that you may find it difficult (or be permitted) to purchase the currency (INR) before departure and will need to buy it upon arrival in India.

For these types of destinations, using a pre-paid travel card is a good solution. As no travel cards support loading closed currencies like the INR you will incur currency conversion or foreign transaction fees if you use a travel money card in India.

However, using a pre-paid travel card is still a good idea as you can avoid ATM fees and also you can avoid using (and losing!) your main bank or debit/credit card.

 

Sending money to India

When searching around for information on how to get a good exchange rate when sending money to India you need to start with finding out the latest Indian Rupee exchange rate for foreign-transfers, which can be very different to the wholesale rate.

Then compare your bank's exchange rates to several licensed FX providers exchange rate and fees to see how much you can save - we make that calculation easy in the below table.

 

HKD to INR International Money Transfers

Provider ReviewReceive INR(₹)Exchange RateFee HKDDeal Links
WorldFirst logo
WorldFirst
> Best Overall
9,586.1
0.5%
9.58610
OFX
9,298
3.49%
9.2980 for BER users (normally $15)
Citibank logo
Citibank
8,937.65
7.23%
₹648 less
9.046212
DBS Bank logo
DBS Bank
8,762.23
9.05%
₹824 less
9.223450
HSBC logo
HSBC
8,374.02
13.08%
₹1,212 less
9.1022HK$80
Banks - Average Rate
Citibank logo HSBC logo DBS Bank logo
8,691
9.79%
₹895 less
9.123955
WorldFirst
 
loading
WorldFirst: Foreign Transfer HKD→INR
From Amount (HKD)HK$1,000
Fee:
Exchange Rate:9.5861 (0.5% from mid-rate)
To Amount (INR)9,586.1
Total Cost:0.5%
Time:8:33 Local
Transfer Speed:1-2 days
Services:Bank Transfers - Online & Phone, Foreign Currency Accounts, Speak to Dealers
Rating:
 
: 4.6/5.0
Review:


Compare WorldFirst Rates
OFX
 
loading
OFX: Foreign Transfer HKD→INR
From Amount (HKD)HK$1,000
Fee:0 for BER users (normally $15)
Exchange Rate:9.2980 (3.49% from mid-rate)
To Amount (INR)9,298
Total Cost:3.49%
Time:
Rate Fetched: Mon Jul 06 2020 08:17:26 GMT+0000 (UTC)
Transfer Speed:1-2 days
Services:Bank Transfers - Online & Phone, Speak to Dealers, Foreign Currency Accounts
Rating:
 
: 4.8/5.0
Review:


Compare OFX Rates
Citibank
 
loading
Citibank: Foreign Transfer HKD→INR
From Amount (HKD)HK$1,000
Fee:12
Exchange Rate:9.0462 (6.1% from mid-rate)
To Amount (INR)8,937.65
Total Cost:7.23%
Difference:
₹648 INR less than using WorldFirst
Time:8:33 Local
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
Rating:
: /5.0
Review:


Compare Citibank Rates
DBS Bank
 
loading
DBS Bank: Foreign Transfer HKD→INR
From Amount (HKD)HK$1,000
Fee:50
Exchange Rate:9.2234 (4.26% from mid-rate)
To Amount (INR)8,762.23
Total Cost:9.05%
Difference:
₹824 INR less than using WorldFirst
Time:8:33 Local
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
Rating:
: /5.0
Review:


Compare DBS Bank Rates
HSBC
 
loading
HSBC: Foreign Transfer HKD→INR
From Amount (HKD)HK$1,000
Fee:HK$80 HKD (Minimum fee)
Exchange Rate:9.1022 (5.52% from mid-rate)
To Amount (INR)8,374.02
Total Cost:13.08%
Difference:
₹1,212 INR less than using WorldFirst
Time:8:33 Local
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
Rating:
: /5.0
Review:


Compare HSBC Rates
Banks - Average Rate
 
loading
Foreign Transfer HKD→INR
From Amount (HKD)HK$1,000
Fee:55
Exchange Rate:9.1488 (5.04% from mid-rate)
To Amount (INR)8,691
Total Cost:9.79%
Difference:
₹895 INR less than using WorldFirst
Transfer Speed:
Services:


 
loading
Snapshot 07/06/2020 - View live rates

Get a better deal for foreign transfers 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 4 simple steps :

  1. Open an account with a BER reviewed FX provider (id docs may be required)
  2. You specify the local or Indian Rupee amount you want to transfer
  3. Make a local currency domestic transfer for the requested amount to the provider's bank account in your country
  4. Once your funds are received by the provider the converted INR amount will be transfered to the recipient account you specify in India.

Use the above Send to Indian Rupee calculator to compare the exchange rates of FX specialist providers rates versus your bank's standard rates you can hopefully save around 5% and maybe more - end result is more Indian Rupee deposited into the recipient bank account and less margins and fees kept by the banks!


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