bringing rupees into india?

#1 Jan 14th, 2004, 20:47
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  • winstonloh is offline
#1
hi everyone, i was wondering what is the limit on how much rupees i can bring into india. i am travelling thru singapore, and was advised that i would get a better exchange rate in singapore, so im trying to bring as much rupees as i can (within reason). maybe about $1000 sgd worth or so.

has anyone had any problems taking this much cash into india?

thanks!

Winston
#2 Jan 14th, 2004, 22:53
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  • wonderwomanusa is offline
#2
You are not allowed to bring rupees into India; to do so is smuggling.
The map is not the territory. --Alfred Korzybski
#3 Jan 15th, 2004, 01:52
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  • dreamsyndicate is offline
#3
I usually take a few thousand ruppees into India .
Never been checked for cash. i wouldn'tworry about it .
( wear your cash in a money-belt on your body)
#4 Jan 15th, 2004, 03:39
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  • saikyo is offline
#4
Where is the ideal place to exchange money then? In the airport?

I will be exchanging Japanese Yen, I assume there is no problem with this huh.
http://www.japannewbie.com
#5 Jan 15th, 2004, 04:08
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#5
My opinion:
Best place in India to change money is the airport. Quick, no hassle, and you can do it while waiting for your luggage on the carousel. Exchange rates are the same as at the local banks. Open 24 hours (although you may have to wake up the clerk on a slow night).
#6 Jan 15th, 2004, 09:14
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#6
Unless you are stupid enough to volunteer the information how would anyone know? This is spoken from some background..
#7 Jan 15th, 2004, 17:43
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#7
I have never been asked to show cash, TC's etc entering India in recent years. The risk seems slight but you've got to figure out for yourself if it's worth it.

Unlike some countries they give the current rate of exchange at the airports.
What a long strange trip it's been!
#8 Jan 15th, 2004, 17:57
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#8
It is officially illegal to bring in rupees. A small amount you can sneak in and no one will question it. However a large amount I wouldn't chance. Airport security is pretty tough and they do go through everything and two or three times at that and a good wad of bills may set off an alarm.

If you can fit a few in your wallet you should be fine, however if you have a bundle of bills why bother with the chance of having them taken.

Money exchanging in the airport is such a simple and straightup thing and only takes a minutes do so.

Mike
#9 Jan 15th, 2004, 20:10
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#9
thanks for that, guess i will just take a little bit, then exchange more when i get there.

thanks again

Winston
#10 Jan 16th, 2004, 01:06
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  • Lily is offline
#10
Why do you want to bring in Indian currency?

By the way what is the current exchange rate from wherever you are bringing it in? Just for you information, the rate here is (give or take a few paise)
INR 44.5/- to a dollar
INR 81/- to a pound
INR 56.5/- to a Euro

Is it much better where you live? Frankly, not worth the risk - specially when you have banks at the Airport, not just money changers.
Lily
#11 Feb 2nd, 2004, 09:43
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#11
Thanks for the info. I'll be going into the Bombay airport, should I bring a buncha Yen in cash to exchange? Or shoudl I just use my credit/debit card at an ATM in the airport to get my first rupees?

Also, how much rupees to travellers generally carry on them in India?
#12 Feb 2nd, 2004, 12:41
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#12
"Also, how much rupees to travellers generally carry on them in India?"


I also would like to have the answer to that question. In their wallets/bags, and the rest in their money belts.


Also, out of curiosity, why is it illegal to bring rupees into India? If it is illegal to bring them in, why are rupees available to buy out of India? Wouldn't there be no purpose of having the money go in and out of the boarders? I mean, no one would purchase rupees if there was no chance in using them...they don't seem like something someone would keep for an investment.
#13 Feb 2nd, 2004, 20:31
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  • Merchant is offline
#13
It's illegal to transport more than $10,000 into the United States. Currency is a controlled substance.
#14 Feb 3rd, 2004, 03:14
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  • edwardseco is offline
#14
The illegality is a reflection of currency controls when the Rupee was set at controlled rates rather than being allowed to float on the market. Don't put it in your luggage because on rare events they do rummage and you would have to share with the officer..
#15 Feb 3rd, 2004, 03:59
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#15
"It's illegal to transport more than $10,000 into the United States. Currency is a controlled substance."

Actually it is not illegal to transport more than 10,000 into the US. But you must declare it. A tourist or an ordinary person is allowed to bring in up to that amount without any hassel. Over that amount, you must make a declaration to the customs official. The reasons for that, I believe, is to prevent money laundering and to make sure the IRS gets its hands on what it it feels it deserves.


But I still don't understand that if it is illegal to bring rupees into India, how is it possible to purchase them at a bank outside of India....why would any reputable bank deal in rupees? Why would anyone need to have rupees outside of India?

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