Updated on Aug 15, 2019
Sending money to India is of special interest to every NRI with family and friends in India.
NRIs sent nearly $79 billion to India in 2018.
But even after sending this huge sum of money India, most NRIs wonder if they are using the right money transfer service to send money to India. The following questions listed in order of priority can serve as the guide for answering this:
- What is today's best exchange rate for US dollars to Indian rupees, for example?
- Is the money transfer service you are selecting is safe and reliable?
- Is the service efficient? How long will it take before the money reaches its intended destination?
- Is the service easy to use?
- What is the current US dollar to INR exchange rate trend? Should I wait for a few days to get better rates?
- What is the money remittance fee for the transaction?
- Which day of the week I get the best exchange rate?
For value of Indian Rupee against dollar and other international currencies on the foreign exchange market, visit US Dollar to Indian rupee Exchange Rate Table of companies offering money remittance services.
For safe and fast money transfer to India and to get the most competitive exchange rates available, we have prepared a list of banks. By clicking on the URLs provided for each, you can either access the remittance service of the bank or directly check exchange rate that it currently offers.
Use the "exchange rate trend" chart provided by Reserve Bank Of India for judging "Should I wait for a few days to transfer money to India?"
Spending 10 minutes on this is likely to save you good amount of money and peace of mind.