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Home » General Information » Money Matters

Foreign Money Exchange India

Money Matters We all know the hard and fast fact that money is the major thing that moves the world when it comes to traveling. If you are a foreign Tourist, you need not worry a single bit about foreign money exchange in India. On arriving at the airport in India, you may exchange your currency at the currency exchange booths which are located inside the airport. These booths are usually available before you leave the customs area. If you walk out of the airport you may not be allowed back in to exchange foreign currency.

Few Points That You Should Remember While Foreign Money Exchange in India:

1. Always exchange foreign currency at authorized dealers such as American express or Thomas cook outlets. Most banks also are authorized to deal in foreign exchange.

2. Insist on a currency exchange receipt. This proves the source of your funds in India.

3. Currency exchanges receipts clearly show the amount of foreign currency exchanged for Indian currency and the rate of exchange you were given.

4. Please be aware that fake Indian currency notes like Rupee 500 notes are said to be circulating in India. This is another reason it makes sense to get your currency from banks. Some stores are reluctant to accept Rupees 500 notes because of various news reports of fake currency. This year I found that there were news reports of even the 1000 Rupee note being suspected as fakes were floating around.

5. Do not fall victim to people trying to entice you by saying they will give you a better exchange rate than what the banks may offer you.

6. If you save your currency exchange receipt you will be able to reconvert your left over Indian currency back to foreign currency at the airport where you fly out from.

7. When buying rail tickets etc that are available on a priority basis for tourists only. If you have proof of currency exchange receipt you will be allowed to pay for the tickets in Indian rupees. Other wise you will have to pay in foreign currency only.

8. Do not purchase foreign currencies form local residents. Buying foreign currency from unauthorized places is also illegal. Fake foreign currency is not uncommon in tourist areas.

9. Many banks and money exchange dealers offer a slight premium for traveler’s cheques than they do for cash.

10. When paying by an international credit card save your invoices. I prefer to write Indian Rupees also where the amount is filled on the invoice before signing it.

11. Do not buy anything online when using a computer in a cyber café.

12. Use only a secure computer when logging on to do your banking.

13. Complete details on India's Foreign Currency rules and regulations are provided in a question answer format at nriinformation.com.

You should know that Rupee is the only currency of India and it is fully convertible. Currency notes are available in denominations of 1000, 500, 100, 50, 20, 10, 5, 2 and 1. Coins are available in denominations of 5, 2 and 1 rupee. 50 and 25 paise coins are also available. Foreign tourists coming to India are required to declare their foreign exchange and currency to the customs authorities if the value of currency notes exceeds US $2,500 or if the aggregate value of the foreign exchange including currency notes exceeds US $10,000 or an equivalent amount.

Conversion Chart for Major Currencies
Foreign Currency Rupees
Australian Dollar 32.50
British Pound 78.60
Canadian Dollar 35.40
ECU-Euro 54.65
Hnog Knog Dollar 6.05
Japanese Yen 0.4020
Malaysian Ringget 13.15
South African Rand 6.40
Swedish Krona 5.95
Swiss Franc 35.25
Thai Baht 1.13
US Dollar(Subject to variation) 47.45

 
 
 

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