Currency Converter
Convert between major world currencies with live rates.
Real-Time Exchange Rates & International Remittance Guide
Navigating global currency exchange rates is essential for international travelers, students studying abroad, freelancers receiving foreign client payments, and expatriates sending remittances to India. Our live currency converter provides instant, accurate conversions across all major global currencies including USD, EUR, GBP, AED, CAD, AUD, and INR.
Interbank Rate vs Retail Bank Rate
The exchange rate displayed on online search engines and financial news is the Interbank Exchange Rate (the wholesale rate at which global commercial banks trade currencies). When retail customers convert money at banks, airports, or forex bureaus, lenders add a Forex Markup Fee (usually 1.5% to 3.5%) to cover currency conversion and handling costs.
RBI Remittance Rules (LRS & TCS)
- Liberalised Remittance Scheme (LRS): Resident Indians can freely remit up to $250,000 per financial year abroad.
- TCS on Foreign Tour Packages: 20% Tax Collected at Source applies on overseas tour bookings.
- Education & Medical Remittance: TCS is capped at 5% for remittances exceeding ₹7 lakh per year.
Frequently Asked Questions (FAQs)
What causes currency exchange rates to fluctuate daily?
Currencies trade on the open foreign exchange (Forex) market 24 hours a day. Exchange rates fluctuate continuously based on supply and demand dynamics influenced by macroeconomic factors such as central bank interest rates (e.g., US Fed vs RBI repo rate), inflation differentials, trade deficits, geopolitical stability, and foreign institutional investor (FII) capital flows.
What is the difference between Bid Price and Ask Price in forex?
The Bid Price is the maximum rate a currency dealer or bank is willing to pay to buy a foreign currency from you. The Ask Price (or Offer Price) is the rate at which the dealer will sell foreign currency to you. The difference between the two is called the Bid-Ask Spread, which represents the dealer's profit margin.
How can I minimize forex markup fees when traveling abroad?
To avoid exorbitant currency conversion charges (which can exceed 5% at airport kiosks), use a zero-forex markup debit or credit card, carry a multi-currency prepaid forex card, or withdraw local currency directly from overseas ATMs using a global banking debit card. Always opt to be charged in the local destination currency rather than your home currency (INR) when paying at POS terminals.
1 USD =
83.50 INR
Exchange rate applied
Frequently Asked Questions
How often are the exchange rates updated?
Our currency converter fetches the latest market exchange rates in real-time, ensuring highly accurate conversions.
What is the difference between buy and sell rates?
The exchange rate shown is typically the mid-market rate. Banks and currency exchanges will apply a small markup when you actually buy or sell foreign currency.