exchange rates?

RebeccaA · Aug 1st, 2009, 05:59

Hi,
I'm arriving in Delhi late September, planning to stay about 5 months and bring about £4000 for the 2 of us. We want to get the best possible exchange rate, so we can get the most for our money. Would be better to bring cash and exchange it in India (bearing in mind keeping it safe as its quite a bit of money to carry) or a credit card? (currently in the process of checking how many rupees we would get for £1 this way) so my question is....
anyone know how many rupees we will get per pound? e.g. at Delhi airport? (including any other charges) where could we find the best exchange rate?

or what about travellers cheques? what exchange rate would they have?

hope someone can help! already on a tight budget so it would make a big difference!

edwardseco · Aug 1st, 2009, 06:23

Usually they say the worst rates are at the airport. I go to banks and undergo a tedious but safe process. Sometimes its better with cash and sometimes with TCs but no major difference. I used a USAA credit card last trip due to a suggestion here that they give lower (not zero) charges for currency transactions. The commission is partly outweighed by the wholesale rate they give access to. You can google for forex to get an idea for current rates and deduct a bit for the retail rate for TCs, cash, and net of charges plastic. I took a lot of cash on my recent Paris trip and it really weighed down my money belt. My burden decreased after each visit to fine food stores (Isigny butter, mustard, etc.), wine shops, chocolate stores, and restaurants especially that one on the Eiffel & the one on the Champs..

Aishah · Aug 1st, 2009, 09:07

Cash is slightly higher than TC's. I think bring a mixture for occasions when there is no money exchange place, or ATM. (Not at the same time - you usually find one or the other). Definitely cut down bringing cash by having an ATM card - Visa, Mastercard (this one is not so common here) Maestro Cirrus enabled. Visa is probably the most prevalent of the lot for being accepted by an ATM. You can have your card linked to a savings account, so instead of using the credit facility you withdraw directly from savings. On the ATM press 'SAVINGS' not 'CREDIT'.
As edwardseco has mentioned the rate is highest with ATM withdrawal but your fees have some effect on this - I still feel it's one of the easiest ways, and fastest, with good exchange rate, to get your money.

Nick-H · Aug 1st, 2009, 16:49

You can check the exchange rates in the newspapers, or on the internet, every day. These are the rates between banks, but the rate that you get from professional money changers (rather than airports, hotels, shops, touristy places) should be close.

The rates at the mentioned places may not always be a rip-off; check your newspaper in the morning, know the rate and you can make a choice.

Remember that you can also use your debit/credit cards to make purchases from the larger shops, just as you would in UK, although they may insist on your leaving a copy of ID to protect themselves against the possibility it isn't you. It is so many years since I did this, I cannot remember how the rates are, but I think they are ok!

RebeccaA · Aug 1st, 2009, 23:31

Thanks guys! Just over a month to go now so I'm at the excited but scared stage, trying 2 make sure everything is sorted! lol x

Aug 1st, 2009, 05:59	#1
RebeccaA Member Join Date: Aug 2009 Location: Newcastle Posts: 5	exchange rates? Hi, I'm arriving in Delhi late September, planning to stay about 5 months and bring about £4000 for the 2 of us. We want to get the best possible exchange rate, so we can get the most for our money. Would be better to bring cash and exchange it in India (bearing in mind keeping it safe as its quite a bit of money to carry) or a credit card? (currently in the process of checking how many rupees we would get for £1 this way) so my question is.... anyone know how many rupees we will get per pound? e.g. at Delhi airport? (including any other charges) where could we find the best exchange rate? or what about travellers cheques? what exchange rate would they have? hope someone can help! already on a tight budget so it would make a big difference!

Aug 1st, 2009, 09:07	#3
Aishah She-who-must-be-obeyed! Join Date: Mar 2007 Location: Jaisalmer Posts: 7,626	Cash is slightly higher than TC's. I think bring a mixture for occasions when there is no money exchange place, or ATM. (Not at the same time - you usually find one or the other). Definitely cut down bringing cash by having an ATM card - Visa, Mastercard (this one is not so common here) Maestro Cirrus enabled. Visa is probably the most prevalent of the lot for being accepted by an ATM. You can have your card linked to a savings account, so instead of using the credit facility you withdraw directly from savings. On the ATM press 'SAVINGS' not 'CREDIT'. As edwardseco has mentioned the rate is highest with ATM withdrawal but your fees have some effect on this - I still feel it's one of the easiest ways, and fastest, with good exchange rate, to get your money. __________________ "Life can only be understood backwards, but it must be lived forwards."

Thread Tools
Show Printable Version Email this Page
Display Modes
Linear Mode Switch to Hybrid Mode Switch to Threaded Mode

Similar Threads
Thread	Thread Starter	Forum	Replies	Last Post
Exchange Rates: Tumbling Pound vs. Euro vs. INR	Mangosteen	Money Issues and India Travel	32	Feb 10th, 2009 04:26
Exchange rates and Travellers cheques	Darryl	Money Issues and India Travel	2	Oct 17th, 2008 19:45
Exchange rates and exchange bureau at Indian airport	BenV	Packing Tips for India travel	47	Jan 11th, 2007 23:57
Exchange Rates	Thirdstage	Chai and Chat	4	Sep 17th, 2005 01:58
Exchange rates at airports	Watson	Chai and Chat	3	Jul 11th, 2003 10:22

Aug 1st, 2009, 06:23	#2
edwardseco Maha Guru Member Join Date: Sep 2001 Location: Land that shakes and bakes. Posts: 5,845	Usually they say the worst rates are at the airport. I go to banks and undergo a tedious but safe process. Sometimes its better with cash and sometimes with TCs but no major difference. I used a USAA credit card last trip due to a suggestion here that they give lower (not zero) charges for currency transactions. The commission is partly outweighed by the wholesale rate they give access to. You can google for forex to get an idea for current rates and deduct a bit for the retail rate for TCs, cash, and net of charges plastic. I took a lot of cash on my recent Paris trip and it really weighed down my money belt. My burden decreased after each visit to fine food stores (Isigny butter, mustard, etc.), wine shops, chocolate stores, and restaurants especially that one on the Eiffel & the one on the Champs..

Aug 1st, 2009, 16:49	#4
Nick-H This is just a cameo appearance Join Date: Oct 2004 Location: Chennai, India Posts: 36,225	You can check the exchange rates in the newspapers, or on the internet, every day. These are the rates between banks, but the rate that you get from professional money changers (rather than airports, hotels, shops, touristy places) should be close. The rates at the mentioned places may not always be a rip-off; check your newspaper in the morning, know the rate and you can make a choice. Remember that you can also use your debit/credit cards to make purchases from the larger shops, just as you would in UK, although they may insist on your leaving a copy of ID to protect themselves against the possibility it isn't you. It is so many years since I did this, I cannot remember how the rates are, but I think they are ok!

Aug 1st, 2009, 23:31	#5
RebeccaA Member Join Date: Aug 2009 Location: Newcastle Posts: 5	Thanks guys! Just over a month to go now so I'm at the excited but scared stage, trying 2 make sure everything is sorted! lol x