Exchange at the Chennai Airport

bohemiansolrac

Namaste All:

I would like to know if someone could advise me if it's better to change money (dollars) at the airport before going out or outside?.
I'll be arriving from the USA at 9:30 PM Chennai time.

Thank you in advance for any response,

Bohemian

moo

I would say yes, but only change enough to cover your fairly immediate requirements (ie. figure out how much you will need until you can change money somewhere better, like an atm) and don't expect the airport transaction to happen in a hurry - there can be a big queue!

Nick-H

Unless you have some rupees from a previous visit, you probably have to. You will have immediate expenses for your trip to the hotel; you might want a bottle of water, cup of tea, fruit...

As a resident, changing money is not a necessity to me; I'll have Rs in my pocket and Rs at home, so I haven't done it there for several years, but it didn't used to be terribly busy. The worst I experienced was having a guy in front of me who seemed to feel that every note should be careful examined!

You can buy in dollars at big shops, and you can change money at your hotel, but you will get a lesser rate than from a bank or money changer. You can pay using your credit card in shops too, and that seems to give a better deal than notes, perhaps because the shop is not involved in the exchange; they will charge you in Rs.

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madan80

but double check before using the credit cards in shops. We went shopping the other day, and the dude wanted a photocopy of the front and back of the card. well... pull out enough money to get you thru the evening. Most big hotels accept USDs and Euros. so hotels dont change. if you want to go shopping, only then convert. USually check Thomas Cook and some forex people in Spencer plaza, they give you good rates.

ColinT

Last time I arrived via Chennai (early/mid November)there was only one foreign exchange open upon arrival. That was Thomas Cook. Apparently, the govt run exchange, which was on the other side of the hall, was no longer changing money and was only concerned with customs issues. So that meant TC had the monopoly. They advertised 73 Rs to the pound. Outside, I found the rate was 83! And even on top of such a poor rate, they charged me for the encashment certificate and... after I went outside, I found they had short changed me by 90 Rs. Luckily, I only changed £20 for my short term needs. Avoid changing money like the plague there. Only change enough to keep you going till you can get into town. Total rip off.

fsg

When we came through international 4 weeks ago there was no money exchange as the halls are having a make over, and not before time, nor did I see an ATM.

My experience of exchange in Spenser is they are a rip off, and you get a rotten rate, try an exchange place away from there and you will do better, there is always the black at Kennet lane in Egmore but ask ask and ask again the rate will go up

bohemiansolrac

THis is a GREAT Forum, I'm surprised by the responses.
Thnks to all of you.

Bohemian

Nick-H

Thanks. We like it too!

Even I learned new stuff from Colin's post, and I've lived here for three years!

anacri

I plan to exchange some money while still in the US (on my way to the bank now) to avoid having to change money at the airport. I'm getting enough to get me through the first couple of days so I have the freedom to pick where I exchange later. I do this when I go to Central America and it works great (however, this is my first trip to India!).

Sama

good luck finding a US bank that has rupees.

and yes, Thomas Cook DOES rip off it's customers. had I not been half-delirious, barely able to stand from my illness, and trying to get thru the massive line in security, I would have noticed that they shortchanged me. I counted it later when I was sitting down and rested and discovered that they ripped me off for about the same amount as Colin.

ALL OF YOU USING THOMAS COOK AT THE CHENNAI AIRPORT, COUNT YOUR MONEY BEFORE YOU LEAVE THE WINDOW!

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ColinT

YogaGal, I've just sent an email to the customer service dept of TC India referring them to this thread, particularly my post and yours. Probably might not achieve anything but if you don't complain then its certain that nothing will be achieved.

capt_mahajan

I think it will. It is very likely that some of their employees are doing this without official knowledge, and I would be surprised if TC did not take this seriously, or take action.

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Sama

I would most certainly be interested in their response. but given a number of my recent experiences in india, it would not surprise me at all if their response is that they take no responsibility for the actions of their employees and that the responsibility is on US not to get ripped off.

ColinT

I know what you mean... "the customer is never right"

anacri

Chase Bank will exchange most currencies for you if you have an account with them. They don't have much on hand, but they'll order the money for you if you can wait a day. I should have rupees in my hands by tomorrow morning. Don't know about other banks.