How to get the best INR to USD rate

Finding the best exchange rate for Indian Rupees to American Dollars is a way for British travellers to make a saving when travelling between the two countries. Many currency exchanges or UK banks charge excessively high commissions, apply poor exchange rates and collect the difference or even worse, do both. This article describes how currency-savvy consumers can source out the best available deal by using a variety of means.

Tracking currency rates

Peaks and troughs Currency is a volatile, ever-changing situation. The values of various currencies fluctuate on a minute-by-minute basis during trading hours. As there is a great time difference between the US and India, at least one of the currencies is open to fluctuations nearly all day long. As such, consumers will find that from one day to the next, they are able to get either a better or worse exchange rate between the two currencies. Travellers looking to make their Indian Rupees go as far as possible, should study the changes in currency rates. They can, then work out what is the realistic high point that they can exchange their currency upon before making the currency conversion. Online calculators Websites such as Xe.com and Oanda.com allow you to view the current exchange rate and perform automatic currency calculations. You can also track the weekly, monthly, yearly and even ten-yearly changes in exchange rates.

Comparing currency deals

Price comparison websites There are plenty of UK price comparison websites that will help consumers make sense of the best place to exchange Rupees and Dollars. Travellers should visit websites such as Travelmoneymax.com, Postoffice.co.uk and Moneysupermarket.com to find the best possible deals when exchanging Rupees and Dollars. Enter the amount of money that you have, either in Rupees or Dollars. Make sure that you have correctly labelled each currency in the correct boxes so as to know that you are making the right conversion. The results generated will be a list of UK High Street travel agents, UK currency exchange businesses and British banks that can convert Rupees and Dollars, for example. Currency exchange savvy Consumers should remember that booking their currency exchange weeks in advance of their needs means that they may be able to make considerable savings. Alternatively, walking up to a currency exchange at a Birtish airport or a train station on the day is relatively expensive. Furthermore, consumers should be wary of "commission free" offers, such as those offered by the Post Office. Often, while you pay no direct commission, the exchanger will offer you a very poor currency exchange rate and keep the difference.