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CURRENCY



The currency used in India is the Indian Rupee (new symbol: ₹; code: INR) and the coins are called paise. These are issued by the Reserve Bank of India (RBI) in various denominations ranging from Notes: Rs 5, 10, 20, 50, 100, 500, and 1000. Coins: 10, 20, 25, and 50 paise.

The origin of the word “rupee” is found in the Sanskrit rūpya “shaped; stamped, impressed; coin” and also from the Sanskrit word “raupya” meaning silver.

Import and export of Indian currency is strictly prohibited.

The RBI stipulates that authorized dealers and their exchange bureau may buy from and sell to public foreign currency notes and coins at rates of exchange determined by market conditions.
Foreign Currency Exchange in India


Foreign Exchange Dealers
- Currency exchange booths are usually located inside the airport, before you leave the customs area. The other ways to exchange your currency is through reputed foreign exchange dealers like Thomas Cook and American Express and banks (though banks may sometimes give you a lower exchange).

Make sure you obtain a receipt when you exchange foreign currency as they clearly state the exchange rate and amount exchanged, it is easier to convert any un-used Indian currency when you are flying back home, it is also proof of the source of your funds in India.

Do not be enticed by fly-by-night money exchange dealers who say that they will give you a better rate especially without a receipt, always use reputed foreign exchange dealers.

ATM'S are widely available in cities and towns for you to withdraw funds as and when needed, note that some banks may charge a high fee for this service. It is wise to carry some cash or currency to exchange, as ATMs may not be accessible or may be out of order just when you need some money.

Traveller’s cheques (in U.S dollars and British Pounds – widely accepted) can also be cash at various money exchange outlets, although hotels and airports may not always offer a good exchange rate. Some dealers may offer a higher rate for traveller’s cheques, they can be replace if they go missing, just make sure you make a note and save the numbers and contact details on your phone or email.

One of the various places where one could source Travellers Cheques in Australia is AUSTPOST - Click Here

Credit and Debit Cards - Visa, MasterCard and American Express are usually accepted in tourist hotels and many other shops. Debit cards are also widely accepted.

Note: Indian currency notes issued before 2005 including Rs. 500 and Rs. 1000 are being withdrawn from circulation in an effort by the Indian government to curb black money and fake currency. So when you exchange your currency for Indian rupees or conduct any transaction during your tour, ensure that the currency notes you receive have not been printed before 2005.

You can easily distinguish the currency notes issued before 2005 as they do not have the year of printing on reverse side. For currency notes issued after 2005, the year of printing in a small font is visible at the middle of the bottom row of the notes.


Declaration: The information provided in this page may not be current or up-to-date. It is the traveller’s responsibility to check the relevant government websites for current and up-to-date information.

Classique Getaways will not assume any responsible for any decisions you may take based on the information provided on this page. Our intent is just to provide you with a starting point for your ongoing research.