Live Exchange Rates across 168 world currencies
A currency converter is a tool, which helps to convert currency of one country into another in order to get it’s corresponding value. It is updated every 60 min on our website.
A currency converter gives you the corresponding value of the currency of one country before exchanging into another currency. So when you plan to travel abroad, or need to transfer money to someone abroad, you can check as to how much one currency would be equivalent to another currency.
Cross border trades can happen only with the help of foreign exchange(FOREX). Forex means interchange of one country’s currency into another. Foreign Exchange can be used for import and export, travel, or purely for trading. People travel to foreign countries either for work purpose or leisure. It may not be easy to avail foreign exchange abroad. Finding the right place in a foreign country to get a currency exchanged can be a difficult task. It is always easy for you to exchange foreign currency through online mode.
Benefits of online foreign exchange:
You may be in any part of the world, online source of foreign exchange is always there for you. You may simply log on to online foreign exchange websites and fill in the required details. Buying or selling foreign exchange can be at your own convenience. It also saves you from exchanging your money at unreliable sources and at inflated prices.
You have an option to select from multiple choices of payment. They also provide doorstep delivery as well as branch pick up options. It is in fact a quick and easy option to buy or sell currency. So the next time you are looking for foreign exchange options, you know exactly where to go! It’s Online.
Some of the leading online foreign exchange websites in India are:
Currency notes are also known as bill, paper money or simply a note. In India post demonetisation typically used notes are of Rs. 10,20,50,100,500 and 2000 denomination. Similarly, currency denomination varies from country to country.
When you purchase foreign currency from authorised dealers like banks, Thomas Cook, etc., you can be rest assured about the genuineness of your currency notes.
While travelling for leisure, maximum limit is US $10,000 in a year for foreign currency per traveller as per Indian regulations but as currency notes only US $3,000 can be carried as per RBI and the remaining to be carried in the other forms like Prepaid Foreign Currency Cards or Foreign Currency Travellers Cheques. All these instruments are available at banks, forex dealers for your purchase.
Following documents are needed for buying Foreign Currency Notes
The Foreign Currency Travellers Cheques popularly called TCs are convenient and easy to use while travelling abroad. They can be used as a replacement of cash and can be used to purchase items at select merchant establishments
Over 400,000 locations spread across 200 countries accept Foreign Currency Travellers Cheques. You can en-cash them or use at Exchange Bureaus, Hotels, Banks, Restaurants, Shops, and other merchant establishments as conveniently as cash.
Its good to follow the procedure given below to keep your money safe.
All Travellers Cheques are secure as they have Signature based Security. At the time of encasement, the merchant establishment matches your signature with the photo ID proof. Hence, even if they are lost, they cannot be used by anyone.
Yes. Once you are back in India, you can encash any unused Foreign Currency Travellers Cheques from the issuing bank or dealer.
They are valid forever! You can use them for future trips.
Once you are back in India, you can request for encashment
Request for encashment can be made at the branch from where they were purchased. You have to ensure that the travellers cheques:
You can get your money back as soon as you're done with the procedure.
Prepaid Forex Cards also known as World Currency Card, Travel Currency Card are available over the counter at your nearest bank branch or Forex Dealer Branches. You need to fill in a simple application form along with required documents and you can take away the card loaded with the required amount of foreign currency. Once you get it loaded in India, it can be used to withdraw cash at ATMS or can be used to pay for shopping, bill payments at restaurants and other expenses across millions of merchant establishments globally.
Usually they are available in US Dollar(USD), Euro(EURO), British Pound(GBP), Euro, Japanese Yen(JPY), Australian Dollars(AUD), Canadian Dollars(CAD), Swiss Francs(CHF) and Singapore Dollar(SGD), UAE Dirham(AED)
Usually a Prepaid Forex Card’s validity is of 5 years from the date of issue or as per the date of expiry printed on the card. You can use a Prepaid Forex Card several times till the validity of card. You can refill your Card anytime you are leaving for a trip abroad. You need to fill in the re-load coupons along with the required documents; within 24 hours, your card will be loaded with the amount. RBI guidelines have to be followed for this.
It can be used only in foreign countries except India, Nepal and Bhutan as per RBI guidelines.
You can ask for encasement of money, once you are back to India. The last transaction on the card should have been done 10 days before to the date of encashment. For getting a refund of the residual balances in your card, you can approach any of the dealer branches. A refund form needs to be filled and a copy of your passport needs to be submitted to claim your refund.
Usually, you can get Foreign Exchange upto 60 days in advance of your foreign trip. The foreign exchange should be returned to the dealer and converted to Indian currency, in case, you do not travel during that period.
Foreign exchange for your foreign trip can be purchased against rupee payment in cash only up to Rs. 50,000/-(Fifty Thousand Rupees). If the Rupee equivalent is more than Rs. 50,000, then you have to make the entire payment by way of a crossed cheque/ banker’s cheque/ pay order/ demand draft/ debit card / credit card / prepaid card only. You have to provide a copy of your PAN Card for payments above INR 25,000.
While you are travelling for business to any country other than Nepal and Bhutan, you can take foreign exchange up to USD 25,000 per visit. You need prior permission from the reserve Bank of India for any amount of foreign exchange exceeding USD 25,000 for business travel abroad other than to Nepal and Bhutan.
Visits related to business dealing, deputation on a project by company, attending an international conference or a seminar, specialised training tours, study tours, apprentice training, etc., are treated as business visits.
Yes. Your parents can regularly send money to meet your living expenses or for payment of fees electronically through a bank or authorised forex dealer in a fast, reliable and convenient manner.
You have an option to purchase a Prepaid Forex Card for him before he travels and then reload it as and when needed once he is abroad. This will make sure he has access to funds in the fastest possible way. You may also choose to send a Wire Transfer(SWIFT) through your bank or an authorised forex dealer for his expenses.
Amount of foreign exchange depends on the prescribed limit by the country of emigration or USD 100,000. On self-declaration basis, you can draw foreign exchange up to USD 100,000. This amount can be used to meet the incidental expenses once you land in the country of emigration. You cannot remit foreign exchange outside India to become eligible or for earning points for immigration. RBI’s approval has to be taken prior for all such remittances. You can get even more than USD 100,000 provided an approval from the Reserve Bank of India is in place.
Yes. You are allowed to carry upto USD 10,000 as per RBI guidelines. You can choose from the instruments like Prepaid Forex Cards, Travellers Cheques or Currency Notes for your personal requirements. Carrying Foreign Currency Notes have a limit of upto a maximum of USD 3,000. The balance amount of forex needs to be carried in alternate instruments as per RBI regulation.