Back on the forum after a long time with another query. I need to get some Indian rupees exchanged into US dollars, and also need some British pounds converted into Indian rupees. What is the best currency exchange rate in Delhi I can get? Where is the best place to get money exchanged from?
Currently, the exchange rate for US Dollars is: 1 INR = 0.0155950 USD, so Rs100 would get you $1.55 dollars. For British pound the exchange rate is: 1 GBP = 82.0622 INR. I would go to reputed and genuine places in Connaught Place like Travelex and Prince Forex, which are reliable and also give a good exchange rate. You can try your bet on the smaller shops as well, as you may get a better deal.
Finding the best currency exchange rate in Delhi can involve some searching, but here are some tips to get you started: Research Online Rates: Several websites and apps offer currency exchange rate comparisons for Delhi. Examples include XE Currency Converter Use these resources to get a general idea of the current exchange rates offered by different money changers in Delhi. Look for Exchange Houses with Low Markup: The best exchange rate will have a low "markup" which is the difference between the interbank rate (wholesale rate) and the rate offered to customers. Reputable money changers will typically display their exchange rates prominently. Look for places with rates closest to the interbank rate. Consider Online Money Transfers: Online money transfer services like TransferWise or Remitly can sometimes offer competitive exchange rates compared to traditional money changers. These services may have lower fees but might take a bit longer for the transfer to be completed. Here are some additional places to consider for currency exchange in Delhi: BookMyForex: This online currency exchange platform offers competitive rates and doorstep delivery in some areas. Authorized Money Changers: Look for money changers authorized by the Reserve Bank of India (RBI). These typically adhere to regulations and display their rates. Banks: While banks might not always offer the most competitive rates, they are a safe and secure option for currency exchange. Here are some things to keep in mind when exchanging currency: Ask about hidden fees: In addition to the exchange rate, some money changers may charge additional fees for services like commission or processing. Ensure you understand all charges before finalizing the transaction. Carry your identification: You'll likely be required to show valid ID like your passport or PAN card when exchanging currency. Get a receipt: Always get a receipt for your transaction for your records. By comparing rates online and considering these tips, you can increase your chances of getting the best currency exchange rate in Delhi.
