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Money Exchange

Money Exchange

On arrival at the airport in India, Foreigners may exchange currency at the currency exchange booths located inside the airport. These booths are usually available before you leave the customs area. If you walk out of the airport you may not be allowed back in to exchange foreign currency.

Some points to remember when exchanging currency in India.

Always exchange foreign currency at authorized dealers such as American express or Thomas cook outlets. Most banks also are authorized to deal in foreign exchange.

Insist on a currency exchange receipt. This proves the source of your funds in India.

Currency exchanges receipts clearly show the amount of foreign currency exchanged for Indian currency and the rate of exchange you were given.

Please be aware that fake Indian currency notes like Rupee 500 notes are said to be circulating in India. This is another reason it makes sense to get your currency from banks. Some stores are reluctant to accept Rupees 500 notes because of various news reports of fake currency. This year I found that there were news reports of even the 1000 Rupee note being suspected as fakes were floating around.

Do not fall victim to people trying to entice you by saying they will give you a better exchange rate than what the banks may offer you.

If you save your currency exchange receipt you will be able to reconvert your left over Indian currency back to foreign currency at the airport where you fly out from.

When buying rail tickets etc that are available on a priority basis for tourists only. If you have proof of currency exchange receipt you will be allowed to pay for the tickets in Indian rupees. Otherwise you will have to pay in foreign currency only.