How Can You Find the Best Indian Rupee Exchange Rate?


Quick Answer

To get the best Indian rupee exchange rate, do not rush to choose the provider offering the highest rate. Consider the remaining amount after the provider deducts all charges. Some providers offer better conversion rates beyond a specific limit, according to Dot Zinc Limited.

Continue Reading
How Can You Find the Best Indian Rupee Exchange Rate?
Credit: Hindustan Times Mint Getty Images

Full Answer

Many people are duped into believing companies displaying conversion rates with comparatively higher figures have the best exchange deals. In most cases, this might not be true. These figures are often accompanied by other additional costs that reduce the amount of money you get in the end. Therefore, the best way to determine the highest value is through calculating values offered by different providers after they deduct their additional charges, explains Dot Zinc Limited. Through this comparison, you can choose the company with the highest end value. You might find the company with a lower initial offer yields the best value if it has fewer or no additional charges.

At times, companies offer better Indian rupee exchange rates after a certain limit, states Dot Zinc Limited. For instance, a company may exchange $1 at 60 Indian Rupees for any cash below $50. For $50 and above, it exchanges at 64 Indian Rupees. Therefore, ensure your dollars exceed the limit offering a better exchange deal before seeking conversion services from such companies.

Learn more about Currency & Conversions
Related Videos

Related Questions