Currency Exchange in India for American Travelers

India welcomes thousands of travelers from the USA each year visiting for an amazing vacation experience. The tourism industry has developed at a fast pace and long gone are the days when currency exchange was tedious work. Nowadays there are a plethora of options for US nationals to get their currency exchanged from airports to ATMs and more.

One should keep in mind and note down their expenditure to make the optimum use of their travel expenses. Tripbeam brings you the guide to currency exchange ways and platforms in India for US citizens and American travelers so that your research time is cut down considerably and you can plan your vacations more thoroughly. Get international flights to India from USA with super saver offers for an enjoyable and comfortable flight experience. 

Currency Exchange Rate

The currency exchange rate for US Dollars to INR is 74.577 for January. This means that $1 is equivalent to 74.577 INR. The exchange rates of the last three months are shared below for an easier understanding. 

Scroll down to know about how you can get your money exchanged in India and the list of documents required for the same. Tripbeam brings you this article with the aim to help you in making your transactions easier in India.

Foreign Currency Exchange Ways in India

There are many ways to get your currency exchanged in India and the details of these methods are shared below. Also, for US nationals and UK nationals, they can bring Rs. 10,000 from their countries in INR. The amount is set so with rules in place to make sure that tax evasion does not happen.
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Online Forex Platforms

Get the best value for your money with competitive exchange rates. Online Forex Platforms are the new facilities available to travelers who are visiting India during their holidays. The two reasons for the popularity of Online Forex platforms are the ease during the change process and the competitive exchange rates. 

Foreign Currency Exchange at the Airports

Many airports offer services for currency exchange from USD to INR. It is a hassle-free process of getting your money upon arrival in India but the exchange rates are higher and do not offer value for your money. The list of major airports for USD to INR is shared below.

• Indira Gandhi International Airport, New Delhi       – T3 International Arrivals and Departures
• Chhatrapati Shivaji International Airport Mumbai  – Terminal 2, Arrivals
• Kempegowda International Airport, Bangalore         – Ground & 1st floor at the International Terminal
• Cochin (Kochi) International Airport                           – International Terminal

Foreign Currency Exchange Through Banks

Banks are the most trustworthy place to get good value for your money if not the best. Government sector banks like SBI (State Bank of India), PNB (Punjab National Bank), and private sector banks like HDFC and AXIS offer foreign exchange services. 

The list of banks with currencies available for exchange there is shared below. 

• HDFC Bank            – 20 currencies including THB, USD, EUR, KRW, SAR, and SGD
• State Bank of India – USD, GBP, and EUR
• Axis Bank               – 14 currencies including ZAR, SGD, JPY NZD
• ICICI Bank             – 14 currencies including AED, SGD, HKD, QAR, SAR, and KWD

Money Exchangers Approved by RBI

The best value for your money is provided by money exchangers in India. Unlike banks, RBI-approved money exchangers work on holidays also making them suitable for money exchange in any situation. There are many other benefits also of making your exchange through them like;

• Locations are convenient
• Exchange rate is competitive
• Operates on more hours and days than banks (operating on weekends)

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Using Atm Withdrawals in India and Direct Banking for Currency Exchange

ATMs are a handy way for you to get money as they are easily available, even in remote places. Keep in mind that there are certain limitations on money withdrawals from ATMs. Your international credit or debit card can withdraw you a maximum amount of 10,000 INR each day. The service charges and exchange rates are also a little heavier.

Direct banking is one the most convenient ways as you transfer money from one account to another using mobile or internet banking. As there is no need to physically visit banks or go to the location of money exchangers, it saves your time. 

List of Required Documents

KYC (Know Your Customer) documents are required for the US nationals to buy or sell foreign currency in India through their bank or chosen money changers. These documents comply with the guidelines of RBI regulations and all banks and authorized exchange houses must follow them. 

The required documents for buying or selling foreign currency in India are – 

For Buying –

1. Indian Passport
2. Confirmed Air Ticket showing travel details (Travel within 60 Days) 
3. PAN Card
4. Valid Visa (Mandatory for some countries)
5. International Driver’s License or copy of utility bills for overseas residents

For Selling – 

1. Indian Passport (Mandatory for transactions above 25,000)
2. Driving License
3. Voters ID
4. Aadhar Card
5. PAN Card

Note- One of the above documents is required or otherwise as asked by the authorities.

Tripbeam hopes that the information is relevant to you and saves your time for researching. We offer flight booking services for flight tickets from India to USA with amazing travel packages. Call us on 1-866-235-8886 to book your flights conveniently.

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