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Compare INR to USD foreign transfers

Use our comparison table to find the best exchange rates for United States Dollar foreign transfers versus the Banks.

When you are thinking about sending money abroad, an international money transfer provider is a great option. They can help you with the whole process, provide useful online tools and most importantly bank-beating exchange rates and low or zero fees.

 
 

Compare Best Exchange Rates for:

   
₹INR
$USD

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Foreign Transfer Providers
Ratings & Reviews
Receive USD($)Exchange RateFee INRTotal CostTransfer ServicesTransfer SpeedDeal Links
 
Instarem logo
141.57 USD0.01415700.75%
ICICI Bank International Money Transfers
ICICI Bank logo
136.13 USD0.01375₹1004.56%Online, Branch, Bank Transfers2-3 days
Banks - Average Rate
Indian Bank logo ICICI Bank logo
135.77 USD0.013715154.81%Online, Branch, Bank Transfers2-3 days
Indian Bank International Money Transfers
Indian Bank logo
135.42 USD0.013679₹1005.06%Online, Branch, Bank Transfers2-3 days
Instarem: Foreign Transfer INR→USD
INR amount:10,000 INR
Fee:0
Exchange Rate:0.014157 (0.75% from mid-rate)
USD amount:141.57 USD
Total Cost:0.75%
Time:1:04 Local
Transfer Speed:
Services:
Rating:
 
: 3.9/5.0
Reviews:
 

ICICI Bank logoICICI Bank

ICICI Bank: Foreign Transfer INR→USD
INR amount:10,000 INR
Fee:₹100 INR (1%)
Exchange Rate:0.013750 (3.6% from mid-rate)
USD amount:136.13 USD
Total Cost:4.56%
Difference:
5.44 USD less than using Instarem
Time:1:04 Local
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
Rating:
: /5.0
Reviews:
 

Banks - Average Rate

Foreign Transfer INR→USD
INR amount:10,000 INR
Fee:15
Exchange Rate:0.013408 (6% from mid-rate)
USD amount:135.77 USD
Total Cost:4.81%
Difference:
5.8 USD less than using Instarem
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
 

Indian Bank logoIndian Bank

Indian Bank: Foreign Transfer INR→USD
INR amount:10,000 INR
Fee:₹100 INR (1%)
Exchange Rate:0.013679 (4.1% from mid-rate)
USD amount:135.42 USD
Total Cost:5.06%
Difference:
6.15 USD less than using Instarem
Time:1:04 Local
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
Rating:
: /5.0
Reviews:
 
3 Month Chart
Loading AUDUSD rates

This is a chart showing the change in the INR-USD mid-market exchange rate over the last week. The Total Cost of each foreign transfer in the above table is calculated as the sum of all fees and the exchange rate margin, which is the difference between the provider's exchange rate and the mid-market INR-USD exchange rate.

Currency news and forecasts for Indian Rupee and United States Dollar

Whenever you are interested in an exchange rate you are actually interested in two currencies due to the fact that the value of a currency must always be quoted in comparison to a second currency.

So it follows that if you are determining the best time to transact, in this case the INR vs USD, you should pay attention to both Indian Rupee and United States Dollar news and forecasts.

Indian Rupee (INR) - Market news and forecasts

In the second week of March, the rupee was little changed on the year (<1 percent difference) against the dollar at rates near ₹70. It was, however, considerably higher than its record low of ₹74.52, achieved in October. The rupee hasn’t done badly in 2019 considering the 23 percent rise in the price of oil (India’s biggest import). Political uncertainty (never good for a currency’s valuation) is likely to emerge as we approach May’s election. A tough battle is expected for current Indian Prime Minister Narendra Modi and his Bharatiya Janata Party. Should the BJP be defeated, “the rupee could potentially spike to 74,” a Radobank economist said. In March, the Economic Times reported the results of a poll of 50 foreign exchange experts, who collectively estimated a year-end USD/INR rate of ₹71.3. This differed from January’s forecast from the Fitch ratings agency, which said it expects ₹75 on the basis of further current account deterioration and tighter financing conditions.

United States Dollar (USD) - Market news and forecasts

In the final week of April, the Dollar Index smashed through a major resistance point at 97.70 and broke towards a 2-year high of 98.25. The index was up 2 percent year-to-date and was 11 percent higher than 2018’s low.

2019’s dollar gains have come chiefly at the expense of the euro, the Swiss franc and the Swedish krona, which all trade at or near multi-year lows. USD is also inflicting pain on the Australian dollar and other important currencies.

The greenback’s 2019 strength has come in spite of a dovish turn by the Federal Reserve, which said in March it expects no interest rate increase this year. Fortunately for dollar holders, the rest of the world has problems and many other central banks have also turned dovish, removing any incentive for selling USD.

Scotiabank admitted defeat in April when it said that the dollar was likely to be “stronger for longer.” It had long held a bearish view on the dollar.

Bloomberg Research warned in April of potential for a large dollar move, up or down. Over the past quarter-century, three prominent troughs in the JPMorgan FX Volatility Index were followed by dollar moves over 6-month periods worth 10-15 percent. The index was trading in April at a 5-year low.