Connecting Businesses with Opportunities in India

exchange rate

Submitted by Navin Pathak on Thu, 08/01/2019 - 11:55am.

Credit card makes the best form of travel money, other than debit cards, prepaid cards and foreign currency cards.. But keep in mind that all credit cards are not designed for transactions in a foreign country.

Credit cards including Visa, Mastercard, American Express, etc. are well accepted all over India. Just to be well protected with the use of your credit card in India, you certainly shall inform your card issuer of your travel plans for India.

For credit card transactions in India, most of the US based credit card issuers charge foreign transaction fee in the range of 1% to 3%.

Credit Cards that don’t charge foreign or international transaction fee:
o Capital One
o Discover
o Chase Sapphire
o Barclaycard
o Bank of America card Travel Rewards

We strongly recommend you to talk to your credit card issuer for the prevailing transaction fee and approximate currently prevailing US dollar to India rupee (USD to INR) exchange rates (which changes daily) just to be aware how much more you might pay when compared to paying in Indian rupees in cash.

Other important points to keep in mind are that while using credit card in India, you much ensure that it is being swiped in front of you and secondly if you can access your credit card statement online, then you must do that every evening to compare your transaction's hardcopy receipts with the entries online.

Submitted by Navin Pathak on Sun, 06/11/2017 - 5:15pm.

Updated on Aug 15, 2019

Sending money to India is of special interest to every NRI with family and friends in India.

Sending Money to 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.