💱 Currency Exchange Guide for Indians (2026)
Whether you’re traveling abroad for tourism, study, business or relocation — managing foreign currency is one of the most important financial decisions Indian travelers make.
This guide explains:
✔ How to exchange currency from India
✔ Best ways to get good exchange rates
✔ Fees & forex markup explained
✔ Cash vs Forex Card vs Credit Card
✔ Airport exchange traps
✔ What to avoid
✔ How much currency to carry
🌎 Popular Currencies Indians Need
The most common currencies for Indian travelers include:
✔ USD (United States Dollar)
✔ EUR (Euro)
✔ GBP (British Pound)
✔ AED (UAE Dirham)
✔ SGD (Singapore Dollar)
✔ THB (Thai Baht)
✔ AUD (Australian Dollar)
✔ CAD (Canadian Dollar)
✔ JPY (Japanese Yen)
🧾 Options to Exchange Currency in India
Indians can exchange foreign currency through:
1️⃣ Banks
✔ Safe
✔ Moderate rates
✔ Can issue Forex/Travel cards
✔ Need KYC
Most major banks support currency exchange.
2️⃣ Authorized Money Changers
Examples:
✔ Thomas Cook
✔ Cox & Kings (forex)
✔ BookMyForex (aggregator)
Rates are often better than banks.
3️⃣ Online Forex Aggregators
These compare multiple forex providers and show the best price.
Popular platforms:
✔ BookMyForex
✔ BuyForexOnline
✔ Niyo (via partners)
Advantages:
✔ Competitive pricing
✔ Home delivery
✔ Online reload
✔ Transparent fees
4️⃣ Airport Exchange Counters (Worst Option)
✖ High forex markup
✖ Typically 8–12% higher than market
✖ Only use for emergency small amounts
💸 Cash vs Forex Card vs Credit/Debit Card
Let’s compare what Indian travelers should use:
| Method | Forex Markup | Best Usage |
|---|---|---|
| Forex Card | 0% – 2% | Daily expenses |
| Credit Card | 3.5% avg | Hotels, flights |
| Debit Card | 3.5% – 4.5% | ATM withdrawals |
| Cash | Market dependent | Emergencies only |
| UPI International | Low | Growing markets |
🛒 How Much Cash Should You Carry Abroad?
Typical recommended mix:
70–80% Forex Card
10–20% Cash
0–10% Credit Card backup
Carry at least $100–$200 equivalent cash for:
✔ Taxis
✔ Tipping
✔ Small shops
✔ Food courts
✔ Emergency situations
🏧 ATM Withdrawals Abroad
ATM withdrawals abroad may include:
✔ Local ATM operator fees
✔ Bank fees
✔ Foreign conversion fees
Credit card cash advances add:
❌ Immediate interest
❌ Extra charges
Use forex cards for ATM withdrawals instead.
📈 How to Get Best Exchange Rates (Smart Tips)
✔ Exchange 1–2 weeks before travel
✔ Compare rates from 2–3 platforms
✔ Avoid airport kiosks
✔ Avoid last-minute conversions
✔ Track USD & EUR moves
✔ Reload forex cards during favorable rates
📅 When to Exchange Currency
✔ After visa approval
✔ Before boarding flight
✔ Before peak travel seasons
✔ Before currency volatility periods
🌍 Country-Specific Exchange Advice
UAE (Dubai/Abu Dhabi):
Cash and card both work, forex cards widely accepted.
USA:
Card-first society, carry small USD cash.
Europe (Schengen):
Euro accepted widely, ATMs available.
Japan:
Cash-heavy culture; carry more cash or use travel SIM for e-payments.
Thailand:
Cash needed for street food & taxis.
📦 Best Platforms for Currency Exchange (India)
✔ BookMyForex
Best comparison & competitive rate.
✔ Banks (HDFC, ICICI, Axis, SBI)
Reliable, but slower processing.
✔ Niyo Global (via Forex Partners)
Zero markup card + multi-currency support.
✔ Thomas Cook
Known for forex & international travel services.
🔍 What to Check Before Exchanging Money
✔ Forex markup
✔ Conversion fees
✔ Reload fees
✔ ATM withdrawal fees
✔ Currency buy-back rules
✔ Expiry rules
✔ Minimum order clauses
🧩 Documents Required for Currency Exchange
India requires KYC by RBI:
✔ Passport
✔ Visa (for some currencies)
✔ PAN (for higher values)
✔ Ticket/Itinerary
🔐 Is Currency Exchange Regulated in India?
Yes — regulated under:
✔ RBI
✔ FEMA Rules
You can legally carry:
💼 Up to USD 3,000 cash equivalent
✔ Rest via forex card, wire, or banking instruments.
🧮 How Much Currency Can Indians Legally Carry?
Outbound travel limit:
✔ USD 250,000 per financial year (LRS Limit)
❓ Frequently Asked Questions (FAQ)
Q1. Should I buy USD in India or abroad?
✔ Buy in India — better control and typically better rates.
Q2. Should I use INR cash abroad?
❌ Rarely accepted — must convert.
Q3. Can I exchange leftover currency back to INR?
✔ Yes — via buy-back or forex counters.
Q4. Is international UPI available?
✔ Expanding — supported in UAE, Singapore, Nepal, Sri Lanka (2026).
📌 Disclaimer
This article is informational and subject to policy changes. Always read provider terms before applying.