Currency Exchange India: Where to Get Best Rates and Avoid Scams

When you're traveling to India, currency exchange India, the process of converting foreign money into Indian rupees. Also known as foreign exchange in India, it’s one of the first things you’ll deal with after landing—whether at the airport, a bank, or a street vendor. Getting this right saves you money and stress. Most travelers don’t realize how much they lose to bad rates and hidden fees. A simple exchange at a tourist spot can cost you 5-10% more than doing it right.

The Indian rupee, the official currency of India, abbreviated as INR isn’t freely convertible like the US dollar or euro. That means you can’t just walk into any bank anywhere and swap cash. You need to know where it’s legal, safe, and fair. Airports have the worst rates—don’t be fooled by the "no commission" sign. They make up for it in the exchange rate. Banks like State Bank of India or HDFC offer better deals, especially if you have a foreign debit or credit card linked to your account. ATMs are often the smartest option: they use real-time rates and charge lower fees than most exchange counters.

Street money changers in markets like Chandni Chowk or Colaba Causeway look tempting, but they’re risky. Some swap real notes for fake ones. Others count slowly, "mistake" the amount, then disappear. Even if they seem friendly, never hand over cash without watching every step. Always count your rupees in front of them. Look for the RBI-approved sign—only licensed dealers can legally operate. Online platforms like Wise or Revolut also work well if you load rupees before you fly. They lock in rates ahead of time and cut out the middleman.

What you should never do

Never exchange money with strangers in parks or near temples. Never accept offers from "helpful" tuk-tuk drivers. Never trust a place that doesn’t show the current rate clearly. And don’t assume your home bank’s ATM fees are the only cost—Indian banks often add their own withdrawal charges. The best tip? Carry a mix: a little cash for the first day, then use ATMs and cards after you settle in. Most hotels and restaurants accept cards now, even in smaller towns.

When you leave India, you can’t take rupees out of the country legally. So spend what you don’t need. Or exchange leftover cash at the airport before you fly—though again, expect a bad rate. If you’re planning multiple trips, keep a small stash of old rupee notes. They’re still valid for years. But don’t hoard them—exchange rates change fast, and the value drops over time.

What you’ll find below are real traveler stories, exact locations with the best rates in Delhi, Mumbai, and Jaipur, and a simple checklist to avoid getting ripped off. No fluff. Just what works.