Table of Contents
Which Indian Bank Gives Best Forex rates?
Banks giving the best money exchange rates to India
- ICICI – Money2India. ICICI Bank offers the Money2India facility for transferring money to more than 100 banks in India from USA.
- SBI Express Remit.
- HDFC Bank – Quick Remit.
- Axis Remit.
- Click2Remit.
- BarodaRemitXpress.
- IndRemit.
- IndusFastRemit.
Where can I get the best Forex rates?
BookMyForex is the world’s first and the largest online marketplace for Currency Exchange, International Remittances and Forex Cards that gives you a fair chance to convert currency online at best rates from anywhere in the world.
Which bank is best for Forex transactions?
Below are some of the best forex cards in India that you might want to have a look at.
- 1 YES Bank Multi-Currency Travel Card.
- 2 Axis Bank Multi-Currency Forex Card.
- 3 MakeMyTrip HDFC Bank ForexPlus Card.
- 4 ICICI Bank Travel Card.
- 5 HDFC Regalia ForexPlus Card.
Who decides the rate of Forex?
India has a floating exchange rate system where the exchange rate of the rupee with another currency is determined by market factors such as supply and demand. For example: If the demand for US dollars increases in the forex market, the value of the dollar will appreciate.
Where can I convert INR to USD?
Where can I exchange Indian rupees for US dollars? Some of the best places where one can exchange the currency are Currency Exchange International, Travelex Currency Services, Bank of America, Treasure Trove Currency Exchange, and AFEX.
How can I buy Forex in India?
Go to a forex dealer or travel agent: Similarly, you can buy foreign exchange from your travel agent. You can also buy foreign exchange from Reserve Bank of India (RBI)-authorised foreign exchange dealers. You should compare exchange rates offered before buying.
Can Forex card be used in India?
No, you cannot use it in India, Nepal or Bhutan. The Forex Card is intended only to be used during your travels abroad. To apply for the HDFC Bank ForexPlus Card, you can click here.
What is Indian rupee pegged to?
The INR is pegged to the USD, and thereby floats with respect to all other currencies.