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Foreign Exchange Guide to India

Read this currency guide to India with INR money transfer and travel tips.

India
Country Code:
IN
Domestic Currency:
Indian Rupee
Symbol - Code:
₹ INR
Telephone Prefix:
+91

This is a foreign exchange guide to India, the Indian Rupee currency plus INR transfers and travel tips.


In this guide we review :

  1. Indian Rupee info - general info about the Indian Rupee
  2. Indian Rupee in the markets - recent INR moves and predictions from the FX markets
  3. Travelling in India - currency & money saving tips
  4. Buying Indian Rupee cash online - travel money for India
  5. Sending money to India - save on Indian Rupee bank transfers to India
  6. Indian Rupee exchange rates - latest & historic exchange rates.

Indian Rupee (INR) general currency information


What is the Indian Rupee currency code and symbol?

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


Which countries use the Indian Rupee?

It is the domestic currency in India.

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.

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.

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).


Indian Rupee (INR) in the markets

The Indian rupee has been under significant pressure in 2018. Versus the dollar, it stood in mid-July at levels in the low 68s, down 6.5 percent on the year and at historically weak levels (all-time low is at 69.52). However, in July, forecasters became more optimistic on the rupee’s prospects.

Emirates NBD – among the most accurate rupee forecasters according to Bloomberg – said in July that the rupee would likely strengthen to 67 per dollar by year-end. Factors weighing on the rupee might have run their course, Emirates said.

Weighing on the rupee had been the strong dollar, but the dollar bull run might be nearing an end; and high oil prices, but these slumped in mid-July amid increased supply.

Supporting the rupee will be additional interest rate hikes by the Reserve Bank of India, thinks HSBC. In June, the RBI raised rates for the first time in four years in order to rein in above-target inflation.

The rupee would likely depreciate to new all-time lows upon the development of a full-blown global trade war, which appeared possible in July after massive US tariffs were proposed.

The interactive chart below shows the USD to INR exchange rate for the previous 3 months with rate alerts for days when the exchange rate moved up or down significantly or for 30 day highs and lows.


USD-INR 3 Month chart
USD-INR 3 Month chart
USDINR currency converter

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.

 

Travel money for India

 

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.

 

Travel Money Exchange Rates Compared

Buying INR Cash with USD 1,000

ProviderRatingFeesExchange RateMargin
Travelex US logo Travelex US
 
$054.5897₹54,590 INR21.53%
HSBC logo HSBC
$054.04₹54,040 INR22.32%
Average Bank Rate
U.S. Bank logo  Wells Fargo Bank logo  HSBC logo 
$1053.6767₹53,316.33 INR23.36%
Wells Fargo Bank logo Wells Fargo Bank
Minimum 20 USD54.04₹52,959 INR23.87%
U.S. Bank logo U.S. Bank
$052.95₹52,950 INR23.88%
 
Travelex US logo Travelex US
Free Home Delivery when you Buy Online Travel Money & Cards with $0 commission and great exchange rates only available from Travelex Online. Zero cost for Home Delivery or pickup your foreign cash at your local Travelex store or at the airport on departure day. * Home deliveries can only be made to the registered billing address of your chosen payment method.
Price Details
Receive: ₹54,590 INR
Exchange Rate: 54.5897
Fees: $0
Total Cost : 21.53% (from mid-rate: 69.5651)
Amount of cash that could be received at rate USD/INR=54.5897 and inclusive of the fee of $0.
Rate timestamp : Thu Feb 15 2018 16:45:03 GMT+0000 (UTC)
 
HSBC logo HSBC

Price Details
Receive: ₹54,040 INR
Exchange Rate: 54.04
Fees: $0
Total Cost : 22.32% (from mid-rate: 69.5651)
Receive INR ₹550 less than with  Travelex US logo Travelex US
Amount of cash that could be received at rate USD/INR=54.04 and inclusive of the fee of $0.
 
Average Bank Rate
U.S. Bank logo  Wells Fargo Bank logo  HSBC logo 
This is the average USD to INR Buy Foreign Cash exchange rate from multiple banks, exchange kiosks and post-offices, available over the counter and via the internet.


Price Details
Receive: ₹53,316.33 INR
Exchange Rate: 60.87
Fees: $10
Total Cost : 23.36% (from mid-rate: 69.5651)
Receive INR ₹1,274 less than with  Travelex US logo Travelex US
Amount of cash that could be received at rate USD/INR=53.6767 and inclusive of the fee of $10.
 
Wells Fargo Bank logo Wells Fargo Bank

Price Details
Receive: ₹52,959 INR
Exchange Rate: 54.04
Fees: Minimum 20 USD
Total Cost : 23.87% (from mid-rate: 69.5651)
Receive INR ₹1,631 less than with  Travelex US logo Travelex US
Amount of cash that could be received at rate USD/INR=54.04 and inclusive of the fee of Minimum 20 USD.
 
U.S. Bank logo U.S. Bank

Price Details
Receive: ₹52,950 INR
Exchange Rate: 52.95
Fees: $0
Total Cost : 23.88% (from mid-rate: 69.5651)
Receive INR ₹1,640 less than with  Travelex US logo Travelex US
Amount of cash that could be received at rate USD/INR=52.95 and inclusive of the fee of $0.
 

India Trip Checklist    

  1. Compare INR travel cash rates - probably why you are here!
  2. Search Hotel deals - Save on your accomodation in India
  3. Lonely Planet - world's best travel guide (coupon and deals)

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 foreign-transfer exchange 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 here).


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 our Send to INR 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!

 
Sending a LARGER international money transfer? Request a Free Multi-Vendor Quote

Compare Foreign Transfers

Sending USD 10,000 to INR

ProviderRatingFeesExchange RateMargin
OFX logo OFX
 
$069.25₹692,500 INR0.45%
Wells Fargo Bank logo Wells Fargo Bank
$1867.66₹675,382 INR2.91%
HSBC logo HSBC
$1567.6₹674,986 INR2.97%
Average Bank Rate
Bank of America logo  U.S. Bank logo  Wells Fargo Bank logo  HSBC logo 
$1567.4750₹670,826 INR3.57%
Bank of America logo Bank of America
$10067.32₹666,468 INR4.2%
U.S. Bank logo U.S. Bank
$10067.32₹666,468 INR4.2%
 
OFX logo OFX
Book & track your foreign transfers online (24/7) with industry best rates for all your deals - not just the first one! Lock in exchange rates with Spot & Forward Deals. BestExchangeRates users get the transfer fees waived.
Price Details
Receive: ₹692,500 INR
Exchange Rate: 69.25
Fees: $0
Total Cost : 0.45% (from mid-rate: 69.5651)
This is the amount of money that could be received by your transfer at rate USD/INR=69.25 and inclusive of the fee of $0.
Rate timestamp : Tue Aug 21 2018 04:04:44 GMT+0000 (UTC)
 
Wells Fargo Bank logo Wells Fargo Bank

Price Details
Receive: ₹675,382 INR
Exchange Rate: 67.66
Fees: $18
Total Cost : 2.91% (from mid-rate: 69.5651)
Receive INR ₹17,118 less than with  OFX logo OFX
This is the amount of money that could be received by your transfer at rate USD/INR=67.66 and inclusive of the fee of $18.
 
HSBC logo HSBC
Rate available to HSBC Online Banking customers only.

Price Details
Receive: ₹674,986 INR
Exchange Rate: 67.6
Fees: $15
Total Cost : 2.97% (from mid-rate: 69.5651)
Receive INR ₹17,514 less than with  OFX logo OFX
This is the amount of money that could be received by your transfer at rate USD/INR=67.6 and inclusive of the fee of $15.
 
Average Bank Rate
Bank of America logo  U.S. Bank logo  Wells Fargo Bank logo  HSBC logo 
This is the average USD to INR International Transfer exchange rate and fees from multiple banks for FX rates available over the counter and also via Internet Banking.


Price Details
Receive: ₹670,826 INR
Exchange Rate: 67.18
Fees: $15
Total Cost : 3.57% (from mid-rate: 69.5651)
Receive INR ₹21,674 less than with  OFX logo OFX
This is the amount of money that could be received by your transfer at rate USD/INR=67.4750 and inclusive of the fee of $15.
 
Bank of America logo Bank of America

Price Details
Receive: ₹666,468 INR
Exchange Rate: 67.32
Fees: $100
Total Cost : 4.2% (from mid-rate: 69.5651)
Receive INR ₹26,032 less than with  OFX logo OFX
This is the amount of money that could be received by your transfer at rate USD/INR=67.32 and inclusive of the fee of $100.
 
U.S. Bank logo U.S. Bank

Price Details
Receive: ₹666,468 INR
Exchange Rate: 67.32
Fees: $100
Total Cost : 4.2% (from mid-rate: 69.5651)
Receive INR ₹26,032 less than with  OFX logo OFX
This is the amount of money that could be received by your transfer at rate USD/INR=67.32 and inclusive of the fee of $100.
% Margins to latest USD/INR mid-rate: 69.5651
Rates @ 08/21/2018
 

Major INR cross rates


INR/USD - Indian Rupee to United States Dollar - 10 Year History

DateExchange RatePeriod
12 Aug 20180.01451 Week
20 Jul 20180.01451 Month
20 Feb 20180.01546 Months
19 Aug 20170.01561 Year
19 Aug 20160.01492 Years
20 Aug 20130.01585 Years
21 Aug 20080.023010 Years

INR/EUR - Indian Rupee to Euro - 10 Year History

DateExchange RatePeriod
12 Aug 20180.01271 Week
20 Jul 20180.01241 Month
20 Feb 20180.01256 Months
19 Aug 20170.01331 Year
19 Aug 20160.01322 Years
20 Aug 20130.01185 Years
21 Aug 20080.015510 Years

INR/GBP - Indian Rupee to British Pound Sterling - 10 Year History

DateExchange RatePeriod
12 Aug 20180.01131 Week
20 Jul 20180.01111 Month
20 Feb 20180.01106 Months
19 Aug 20170.01211 Year
19 Aug 20160.01142 Years
20 Aug 20130.01015 Years
21 Aug 20080.012310 Years

INR/JPY - Indian Rupee to Japanese Yen - 10 Year History

DateExchange RatePeriod
12 Aug 20181.60131 Week
20 Jul 20181.62071 Month
20 Feb 20181.65536 Months
19 Aug 20171.70411 Year
19 Aug 20161.49422 Years
20 Aug 20131.53835 Years
21 Aug 20082.495710 Years

INR/AUD - Indian Rupee to Australian Dollar - 10 Year History

DateExchange RatePeriod
12 Aug 20180.01991 Week
20 Jul 20180.01961 Month
20 Feb 20180.01966 Months
19 Aug 20170.01971 Year
19 Aug 20160.01962 Years
20 Aug 20130.01745 Years
21 Aug 20080.026310 Years

INR/CAD - Indian Rupee to Canadian Dollar - 10 Year History

DateExchange RatePeriod
12 Aug 20180.01901 Week
20 Jul 20180.01911 Month
20 Feb 20180.01956 Months
19 Aug 20170.01961 Year
19 Aug 20160.01922 Years
20 Aug 20130.01645 Years
21 Aug 20080.024110 Years