When you travel to India you will need tips on handling India Rupees and how to get them. You might want to know what your currency is worth there in the country. You will also need to keep an eye on the depreciation of the Indian Rupee so that you can get the best rates while you exchange your currency.
Here we discuss Indian rupee exchange rate and all the pieces of information you will need to handle money effectively on your trip in the country.
How to get Indian Rupees before traveling to India
In order to prevent tax evasion, the legal regulations in India do not permit taking rupees out of the country. Hence, you cannot take more than Rs. 10,000 while leaving the country. Nevertheless, you can bring rupees into India.
It is possible to get Indian rupees at AAA in the USA. In some countries, you can also order for Indian rupees through some specified banks. Since the exchange rates differ between banks, you must check it before ordering in order to be able to save a few bucks.
How to get Indian Rupee while you are on a trip to the country
In fact, there is no reason for you to stock Indian rupees with you before you travel to India. Ideally speaking, seasoned travelers to India, do not keep more than Rs.10,000 (roughly $135) in Indian rupees before they land in the country. Even if you come without any rupees, you will be fine here. However, travel with some USD for emergency purposes. It is good to carry about $100 in $20s and secure it somewhere with you.
While going to the airport, you can visit the ATM and take out the money. It is as simple as that. Charges made by ATM are much cheaper than the charges you must bear at the foreign currency exchang at the airports. A tip that will come to your help here. Banking with Charles Schwab is a great option, especially while visiting India since this bank reimburses all the ATM fees and bank charges for foreign currency exchanges. This can save you a lot of money.
Indian Rupee Exchange Rate as in October 2018
Here is a fair idea of how much a rupee bill is worth and how much you must take out of the ATM.
Indian currency works with a lot of coins. The largest coin is 10 rupees which are worth about 13 cents.
5 Rs bill (also a coin) = 6 cents
10 Rs bill = 13 cents
20 Rs bill = 27 cents
50 Rs bill = 67 cents
100 Rs bill = $1.35
500 Rs bill = $6.75
2000 Rs bill = $27.02
As it is evident from the figures noted above, there is a large difference between the 500 rupee note and 2000 rupee note. There is no bill available in Rs.1000 denomination. Often you will find it very difficult to break 2000 Rs notes outside bigger shops, fancy restaurants and supermarkets. Hence it is always advisable to get this big bill broken so that you will have a smaller chance with you for arising needs. Having a smaller change in hand will also make negotiating easier.
Some good options for you
When you need a larger amount of money, you can do an exchange rate comparison between different banks, your bank’s ATM fees and foreign currency transfer fees and the fees of the Western Union Money Transfer. It is a very simple procedure to send money to India via Western Union and pick it up in a travel agent’s office in India.