Use this two-way calculator and chart to calculate amounts in either U.S. dollar or 1000 using
the real-time USD/INR market mid-rate.
Then choose your transaction type
Foreign TransferTravel Money
to see the available exchange rates and reviews for our leading foreign exchange providers.
The mid-rate is the rate you will see
Quoted on Google
or the News, nobody except the largest banks can get exchange rates close to this mid-rate. It is actually just the theoretical half-way point (hence mid-rate) between the last rate at which the USD / INR was traded (bought or sold) in the international markets.
2. Transaction Costs - Margins and Fees for USD/INR Foreign Exchange
The transaction margin from the mid-rate you will be charged by your bank or foreign exchange provider plus any fixed or percentage fees. These margins and fees will vary significantly for International Money Transfers and Travel Money transactions.
USD to INR Foreign Transfer - Costs Compared
You can see a sample of the margins from mid-rate in the table below which shows an example of the costs charged by FX specialist and the average bank rate when sending money transfers from USD to INR.
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.
The below table shows an example of the margins and possible savings when you order travel money online with a currency specialist versus the average bank, kiosk or post office rate to buy foreign cash.
Travel Money Exchange Rates Compared
Buying INR Cash with USD 1,000
Bank Rates - Average
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.
Receive: ₹57,351 INR
Exchange Rate: 57.93 Fees: USD 10 (1%)
Total Cost : 13.38% (from mid-rate: 66.2083)
Amount of money that could be received by your currency exchange at rate USD/INR=57.93 and inclusive of the fee of USD 10 (1%).
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.
Getting a good market rate is mainly about timing however the transaction margin
you end up being charged can be considerably reduced by around a few percent (of total amount being exchanged) for
and possibly over 5% to 6% when sending money.
The exact potential savings depends on the currencies being exchanged and the amount
you are transferring and if you are willing to shop around.
Why can't I just get the same USD/INR market rate I see on Google or in the Media?
When you look up the current U.S. dollar to Indian rupee exchange rate on the web the figure you find quoted on sites like google or mentioned on TV is commonly referred to as the mid-market rate.
Getting a great USD to INR mid-market rate is all about timing, so unless you
are able to wait, watch and time the market this is largely beyond your control.
This rate will go up and down with varying amounts of volatility depending on the currency pair.
This mid-market rate is really only a reference and is just the starting point for calculating the actual rate you will
get for your transaction, luckily we can also use this same rate to determine how good a deal a rate that a provider offers you actually is.
You can use the below
USD to INR calculator to convert currency amounts using the latest mid-market exchange rates.
Then choose your transaction type for specific U.S. dollar cross rates and reviews of leading foreign exchange providers versus the Banks.
3. Currency News, Research and Forecasts for U.S. dollar and Indian rupee
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 is always determined quoted in comparison to another currency.
So it follows that if you are determining the best time to transact, in this case the USD vs INR, you should pay attention to both U.S. dollar and Indian rupee news and forecasts.
U.S. dollar (USD) - Market news and forecasts
Against a basket of currencies, the U.S. dollar held steady in February and March – a welcome change considering the currency’s 15% fall in the preceding 13 months. However, any boost the greenback might receive from higher U.S. interest rates (the Fed hiked again in March) is likely to be offset by the longer-term consequences of U.S. trade tariffs, thinks a growing number of FX analysts. The latest round of tariffs include those on steel and aluminium imports and on $60 billion worth of Chinese goods, all aimed at boosting U.S. manufacturers.
The question of whether China in particular would take retaliatory steps on trade was a hot topic approaching the end of March. Analysts at Bank of America Merrill Lynch, BK Asset Management and Lloyds all said that the dollar would weaken on any escalation of trade tensions. In March, Lloyds reduced its dollar-euro year-end forecast to 0.8 (EUR/USD 1.25), from 0.82.
With trade on everyone’s lips and with traders uninspired by U.S. economic prospects, it is not surprising that the dollar’s trajectory has decoupled in 2018 from that of U.S. interest rate expectations. Despite yields climbing steadily this year, the dollar has sunk.
“It’s easy to see the weak-dollar story persisting,” said ING in February. The bank has forecast dollar-euro at just 0.77 at year-end (EUR/USD 1.3).
Indian rupee (INR) - Market news and forecasts
By its own standards, the rupee made great inroads against the dollar in late 2017, and ushered in 2018 in much the same fashion.
In mid-November, the rupee began its determined climb against USD. Eight straight weeks of gains and an appreciation of 4% by January 5th (the time of this report) took the rupee to its strongest level in nearly two-and-a-half years, at 63.2 rupees per dollar.
Throughout early 2018, the rupee is likely to see continued support because of “increasing risks of an end to [the Reserve Bank of India’s] accommodative monetary policy,” thinks the team at ICICI Securities.
One exchange rate we look at often at Best Exchange Rates, the Australian dollar-rupee rate, fell (the rupee strengthened) throughout much of the final quarter of 2017. The rupee did, however, lose nearly half of its Q4 gains in the final three weeks of the year, mainly on broad Australian dollar strength.
With AUD/INR rates close to 50 in early January, a 4% climb is needed for AUD/INR to once again test 52.0 – one of the strongest resistance levels in all of FX.
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