It may also be worth checking currency values during popular currency trading periods. If you’re not in a rush to exchange your currency, check the conversion value on a few different occasions before completing the transaction-you may be able to make your dollar (in whichever currency) go further. Many factors can impact the value of the currency you’re planning to send or exchange, from economic events to the time of day. Once your transfer is complete, you can withdraw local currency at an ATM. If you have a bank account in another country, you can also use an app like Wise to transfer money to yourself for a fee of a few dollars per transaction. If you must use cash, make an international withdrawal from an ATM. Instead, use a debit or credit card that boasts zero foreign transaction fees and select local currency at the register (if you’re given the option). If you’re planning to exchange money for personal use, expert travelers will tell you to skip the currency exchange kiosk at the airport-they charge some of the highest fees and often have the worst exchange rates. While Western Union’s charges vary by payment and payout options, Wise charges a flat fee of INR 75.20 + 1.78% of the amount that’s converted per transaction, and transactions via Book My Forex cost a bank fee of INR 225 + the goods and service tax applicable and often depend on the transaction size. But keep in mind that this ease can come at a premium. Every financial year, up to $2,50,000 can be transferred online by a resident individual, including minors.Īuthorized money transfer businesses like Western Union and apps like Book My Forex and Wise allow you to send money to people internationally. The Reserve Bank of India allows Indian citizens to send money via a process called outward remittance.
It’s easier than ever to send money to friends and family internationally, thanks to online tools. Keep in mind that the conversion provided here doesn’t consider any fees charged by the institution completing the exchange, whether it’s a bank, digital app or travel kiosk. You can view the full list of currencies here.
Here are some of the most popular conversions that our calculator supports: Since this value can fluctuate due to various economic conditions, it’s important to know the current exchange rate before converting your money. Our currency conversion calculator uses the current exchange rate to determine how much your money is worth in a different currency.
How Does a Currency Conversion Calculator Work? However, the rate you see here may not be the same rate that you’re offered by a bank or other financial institution. We pull new rates every 5 minutes to ensure that the conversion you see is accurate and up to date. Disclaimer: Our currency calculator uses Open Exchange API to gather current exchange rates.
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