Currency exchange Counters at Mumbai

Wander Whai · Mar 21st, 2005, 01:42

Hello All.
I will be landing at Mubmai airport at midnight. Will the currency counters still be open at that hour? Also, how do you know that they are giving you rupees at the right exchange rate without cheating?
Thanks for your help!

Jorge Reverter · Mar 21st, 2005, 01:57

Hi Wander Whai,

Counters to change money are open 24 hours. So, don't worry, in few minutes the rupees will be in your pocket.

Wander Whai · Mar 21st, 2005, 05:10

Thanks Jorge. How about the cheating part?

machadinha · Mar 21st, 2005, 05:18

http://www.oanda.com/convert/classic
At an official bank there's no reason to assume you'll be cheated. Exchange rates and what you have to pay for the transaction may and do fluctuate of course.

jarman_ah · Mar 21st, 2005, 05:23

Wonder Whai, what makes you think that they would be likely to cheat you? Would you think it was reasonable if I wrote in to a forum assuming that, if I changed money at a New York airport, I would probably be cheated? You know, I spent five weeks in India last year, and only once did I ever get cheated.... and that, would you believe, was by an American tourist we ran into and shared an autorickshaw with!

The Indian exchange counters won't cheat you, either in Mumbai or anywhere else. They are professionally-run and as honest as anywhere else in the world. Indians generally are as honest as anywhere else in the world.
Poverty makes you canny, but not crooked.

We changed money once with a guy who approached us in the street of Jaisalmer; even in these circumstances, we got exactly what we paid for, to the rupee.

The only advice I would give you about changing money is to check for torn or damaged notes.... sometimes these get issued in a pile of good notes -- not, I am sure, a deliberate attempt to defraud! -- and, while they're not exactly worthless, they are a bit of a pain to get rid of.

Krishnika · Mar 21st, 2005, 06:25

I agree, it's really unfair to start your trip assuming people are out to cheat you. I found the exact opposite was true on my recent trip to Kerala. We had paid for services which we ended up not receiving, but the next day the guy we had given the money to passed us on the street on a motorbike, recognized us and refunded us the difference on the spot! The funny thing was that we didn't recognize him and it took us awhile to understand why this stranger wanted to give us money! Relax!

davey · Mar 21st, 2005, 10:14

We used money changers all over the place and never got cheated once, believe me you are as safe there as you probably are changing money anywhere else in the world.

randomviolins · Mar 22nd, 2005, 04:26

I guess by now you've already changed your money.
But for anyone else who comes across this thread in the future ...

I have found that the government bank money exchanges at the airport tend to give grimy bills in a stack with industrial-size staples in them that are hard to remove (and make even more holes). Ask the agent who is changing your bills to give you bills without the staples.

After having been given lots of bills with holes in them at the airport during my first trip, and having had trouble getting merchants to accept some of them, on subsequent visits I have carried just enough notes from a small stash I keep at home (um, I didn't say that

) to be able to pay for the taxi ride into the city and for any meals or whatever that first morning. I then go to one of the private banks in the city and use my ATM card (or go to AmEx or Thomas Cook or whatever) to get crisp, clean, new bills.

Funny how it only takes about 15 seconds to get cash from the ATM while it took about 20 minutes (including filling out multiple forms, presenting my passport, and stopping at 3 different desks) to change a few dollars at a government bank in Kerala.

You can check the going exchange rates online at http://www.xe.com/ucc/, or in one of the major newspapers.

jarman_ah · Mar 22nd, 2005, 07:11

Point taken about New York scams, and that was a great story about the "crooked" Kerala money changer! I love to read stories like that, it reaffirms my faith in human nature.

By the way, it was Jack Lemmon and Sandy Dennis. Shirley was in "The Apartment" and "Irma la Douce".

jarman_ah · Mar 22nd, 2005, 07:12

Make that the "crooked" Varanasi money changer!

timmy · Mar 22nd, 2005, 11:21

While I was waiting for two women friends I'd met on the flight into Mumbai, I noticed Customs staff escorting hapless travellers into an unlit, vacant office to take baksheesh. I got told off twice for waiting there as they were aware I was onto them!

manojb · Mar 24th, 2005, 21:26

I exchanged money at 1 am day before yesterday at the International terminal. There are two money exchangers, State Bank of India and American Express. Both were open. On the other hand, the only currency exchanger in the Domestic terminal did not open until about 7 am.

crvlvr · Mar 24th, 2005, 23:08

Currency exchange rates for cash are usually less favorable than say ATM's or credit cards. However, the currency exchangers in India , unlike the ones in Hethrow, do not charge a per transaction flat fee. So you can exchange as little as you like. I would suggest you try to use your credit or ATm cards as much as possible -- especially for larger transactions.

machadinha · Mar 26th, 2005, 17:18

I think there's some confusion here as to money changers vs. banks. I'd still say at a bank you're unlikely to get ripped off any more than you would be at home, although there may be variations in exchange rates and commissions handled, probably not enough to merit shopping around though. With a money changer it's a personal transaction of course and no different than buying a packet of incense in that way, some people get ripped off some don't. With the black market being all but gone there's little reason not to go to a bank, except for the queues maybe; I'd save myself the hassle of nervously fumbling around with a stack of notes in the back of some dodgy shop anytime, and actually that is a prime occasion for your bag going missing or your being handed the famous stack of bills with paper in the middle or worse. Scamming customs personnel is a different story altogether and has nothing to do with changing money.

Using your ATM card check if your bank at home doesn't charge a (sometimes substantial) commission for each transaction, and if so take out a larger amount each time instead of many small amounts.

Torn bills can be changed for untorn ones at the banks. A bill being grimy and stapled doesn't affect its value as far as I know, it can have holes all over just as long as it's not torn.

bamboo · May 18th, 2005, 17:18

Do you think that it would be better to change my euros to rupees before or after coming to Mumbai? I'd like to know your opinions. I've read this thread and people praise the exchange system in Mumbai, but is it different with euros?? It shouldn't be, I guess, but I'm pretty dumb with these things! So please help me again.

Mar 21st, 2005, 01:42	#1
Wander Whai Member Join Date: May 2004 Location: Plainsboro New Jersey Posts: 40	Currency exchange Counters at Mumbai Hello All. I will be landing at Mubmai airport at midnight. Will the currency counters still be open at that hour? Also, how do you know that they are giving you rupees at the right exchange rate without cheating? Thanks for your help! __________________ Wander Whai

Mar 21st, 2005, 05:10	#3
Wander Whai Member Join Date: May 2004 Location: Plainsboro New Jersey Posts: 40	Mumbai bound Thanks Jorge. How about the cheating part?

Mar 21st, 2005, 05:18	#4
machadinha Not Your Guru Member Join Date: Jan 2005 Location: yörp Posts: 10,588	http://www.oanda.com/convert/classic At an official bank there's no reason to assume you'll be cheated. Exchange rates and what you have to pay for the transaction may and do fluctuate of course. __________________ Reading tips, all picked up at IndiaMike : INDAX's A Comprehensive Guide To India / Dinoj Surendran's Desi Humor / ITHVC on Culture Shock & Travel Health / JetLag Travel Guides For the Undiscerning Traveller / India Travel Links

Mar 22nd, 2005, 11:21	#11
timmy Back in Australia Join Date: Nov 2003 Location: Australia Posts: 375	While I was waiting for two women friends I'd met on the flight into Mumbai, I noticed Customs staff escorting hapless travellers into an unlit, vacant office to take baksheesh. I got told off twice for waiting there as they were aware I was onto them! __________________ Read my India Travel Blog from late 2004, or look at my Photo Gallery from my last two trips.

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Mar 21st, 2005, 01:57	#2
Jorge Reverter Maha Guru Member Join Date: Dec 2003 Location: Murcia - Spain Posts: 1,149	Hi Wander Whai, Counters to change money are open 24 hours. So, don't worry, in few minutes the rupees will be in your pocket.

Mar 21st, 2005, 05:23	#5
jarman_ah Senior Member Join Date: Jul 2004 Location: Sydney, Australia Posts: 373	Wonder Whai, what makes you think that they would be likely to cheat you? Would you think it was reasonable if I wrote in to a forum assuming that, if I changed money at a New York airport, I would probably be cheated? You know, I spent five weeks in India last year, and only once did I ever get cheated.... and that, would you believe, was by an American tourist we ran into and shared an autorickshaw with! The Indian exchange counters won't cheat you, either in Mumbai or anywhere else. They are professionally-run and as honest as anywhere else in the world. Indians generally are as honest as anywhere else in the world. Poverty makes you canny, but not crooked. We changed money once with a guy who approached us in the street of Jaisalmer; even in these circumstances, we got exactly what we paid for, to the rupee. The only advice I would give you about changing money is to check for torn or damaged notes.... sometimes these get issued in a pile of good notes -- not, I am sure, a deliberate attempt to defraud! -- and, while they're not exactly worthless, they are a bit of a pain to get rid of.

Mar 21st, 2005, 06:25	#6
Krishnika taking a break Join Date: Oct 2004 Location: NYC Posts: 233	I agree, it's really unfair to start your trip assuming people are out to cheat you. I found the exact opposite was true on my recent trip to Kerala. We had paid for services which we ended up not receiving, but the next day the guy we had given the money to passed us on the street on a motorbike, recognized us and refunded us the difference on the spot! The funny thing was that we didn't recognize him and it took us awhile to understand why this stranger wanted to give us money! Relax!

Mar 21st, 2005, 10:14	#7
davey Grumpy Old fart Join Date: Dec 2004 Location: Australia (Buderim) Posts: 536	We used money changers all over the place and never got cheated once, believe me you are as safe there as you probably are changing money anywhere else in the world.

Mar 22nd, 2005, 04:26	#8
randomviolins Senior Member Join Date: Mar 2005 Location: New York Posts: 109	I guess by now you've already changed your money. But for anyone else who comes across this thread in the future ... I have found that the government bank money exchanges at the airport tend to give grimy bills in a stack with industrial-size staples in them that are hard to remove (and make even more holes). Ask the agent who is changing your bills to give you bills without the staples. After having been given lots of bills with holes in them at the airport during my first trip, and having had trouble getting merchants to accept some of them, on subsequent visits I have carried just enough notes from a small stash I keep at home (um, I didn't say that ) to be able to pay for the taxi ride into the city and for any meals or whatever that first morning. I then go to one of the private banks in the city and use my ATM card (or go to AmEx or Thomas Cook or whatever) to get crisp, clean, new bills. Funny how it only takes about 15 seconds to get cash from the ATM while it took about 20 minutes (including filling out multiple forms, presenting my passport, and stopping at 3 different desks) to change a few dollars at a government bank in Kerala. You can check the going exchange rates online at http://www.xe.com/ucc/, or in one of the major newspapers.

Mar 22nd, 2005, 07:11	#9
jarman_ah Senior Member Join Date: Jul 2004 Location: Sydney, Australia Posts: 373	Point taken about New York scams, and that was a great story about the "crooked" Kerala money changer! I love to read stories like that, it reaffirms my faith in human nature. By the way, it was Jack Lemmon and Sandy Dennis. Shirley was in "The Apartment" and "Irma la Douce".

Mar 22nd, 2005, 07:12	#10
jarman_ah Senior Member Join Date: Jul 2004 Location: Sydney, Australia Posts: 373	Make that the "crooked" Varanasi money changer!

Mar 24th, 2005, 21:26	#12
manojb Member Join Date: Mar 2004 Location: Bangalore, India Posts: 423	I exchanged money at 1 am day before yesterday at the International terminal. There are two money exchangers, State Bank of India and American Express. Both were open. On the other hand, the only currency exchanger in the Domestic terminal did not open until about 7 am.

Mar 24th, 2005, 23:08	#13
crvlvr Guru Join Date: Sep 2004 Location: Hollywood Posts: 4,474	Currency exchange rates for cash are usually less favorable than say ATM's or credit cards. However, the currency exchangers in India , unlike the ones in Hethrow, do not charge a per transaction flat fee. So you can exchange as little as you like. I would suggest you try to use your credit or ATm cards as much as possible -- especially for larger transactions.

Mar 26th, 2005, 17:18	#14
machadinha Not Your Guru Member Join Date: Jan 2005 Location: yörp Posts: 10,588	I think there's some confusion here as to money changers vs. banks. I'd still say at a bank you're unlikely to get ripped off any more than you would be at home, although there may be variations in exchange rates and commissions handled, probably not enough to merit shopping around though. With a money changer it's a personal transaction of course and no different than buying a packet of incense in that way, some people get ripped off some don't. With the black market being all but gone there's little reason not to go to a bank, except for the queues maybe; I'd save myself the hassle of nervously fumbling around with a stack of notes in the back of some dodgy shop anytime, and actually that is a prime occasion for your bag going missing or your being handed the famous stack of bills with paper in the middle or worse. Scamming customs personnel is a different story altogether and has nothing to do with changing money. Using your ATM card check if your bank at home doesn't charge a (sometimes substantial) commission for each transaction, and if so take out a larger amount each time instead of many small amounts. Torn bills can be changed for untorn ones at the banks. A bill being grimy and stapled doesn't affect its value as far as I know, it can have holes all over just as long as it's not torn.

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May 18th, 2005, 17:18	#15
bamboo Member Join Date: Mar 2005 Location: Finland Posts: 30	Do you think that it would be better to change my euros to rupees before or after coming to Mumbai? I'd like to know your opinions. I've read this thread and people praise the exchange system in Mumbai, but is it different with euros?? It shouldn't be, I guess, but I'm pretty dumb with these things! So please help me again.