Home Arrow FAQ Arrow Can I take foreign currencies (US dollars and Euros) to India?

Can I take foreign currencies (US dollars and Euros) to India?

Foreign currency is allowed into India, and there is no restriction on how much a traveler can bring. Visitors can carry up to US$5,000 in coins and notes or US$10,000 in coins, notes, and traveler's checks into India without disclosing it. If the sum is more, a declaration is necessary.

Before you go, prepare money in various forms: cash, credit cards, and traveler's checks, just in case you need them. It's also a good idea to keep them in several locations (money belts, secret pockets, a Ziploc bag, or even a wash bag).

In India, currency exchange is available via banks (RBI-issued AD-I licenses) and money changers (Both AD-II and FFMC license holders).

Banks

Banks are usually the first option that comes to people's minds when they need foreign currency bills, but only if they have an account with an Indian bank. It's also worth noting that many banks typically don't keep their foreign currency in the form of bills, so bank visits may be completely useless. Instead, banks typically keep their foreign exchange cards, as this allows them to maintain higher profits.

RBI-approved money changers

Using money changers instead of banks will get you a better price. Money changers provide higher exchange rates than banks to entice clients because their primary business is currency conversion.

Money changers may be found in all major cities and communities in India. Keep in mind, however, that not all money changers are regulated by the Reserve Bank of India. Make sure you're dealing with a legitimate forex broker. As a result, your transactions will be controlled and safe.

Airports

You can convert currencies at airports as well, although we do not recommend it. Because airport currency exchange sellers are well aware that travelers rush to them in a hurry to get foreign currency, you wind up spending roughly 10-15% more than you would if you did it through online forex platforms. As a result, exchanging cash at airports might end up being a very expensive bargain for you.

Online foreign exchange platforms

Currency exchange in India is made simple by using online currency exchange services. Some of these services compare currency rates from numerous money changers in your region to get you the best prices for the currency you want to purchase or sell.

Order placing is simple with a 24-hour online booking option, with no long lines, hidden fees, and no lengthy procedure. You may upload the documents directly to the web, and the money will be delivered to your door the same day. You can accomplish all of this while sitting on your couch. 

People are increasingly turning to online forex platforms. Who wouldn't want to get the greatest possible deal?

 

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