About these exchange rates
The converter uses daily reference (mid-market) rates from a public exchange-rate feed. The mid-market rate is halfway between the buying and selling price in the currency markets. Banks, forex cards, money changers and remittance apps quote their own rates, usually 1–4% worse, and may add fees, so treat this as a benchmark for comparing quotes.
How to calculate currency conversion
For example, if 1 USD = ₹85, then $1,000 = ₹85,000, and ₹1 = $0.01176.
Sending or spending money abroad from India
- Compare the effective rate. Divide the rupees debited by the foreign currency received and compare with the mid-market rate here.
- Forex cards usually beat debit or credit cards, which add a foreign transaction markup of about 2–3.5%.
- TCS under the Liberalised Remittance Scheme may apply to foreign remittances and some tour packages above the threshold. It can be adjusted against your income tax.
- Gulf remittances: dirham (AED), riyal (SAR) and other GCC currencies are pegged to the US dollar, so their rupee rate moves with USD/INR.
Frequently asked questions
How often are the rates updated?
The rates are refreshed once a day from the data provider. They are reference rates, not live trading quotes.
Why does my bank give a different rate?
Banks and card networks add a margin (spread) and sometimes fees on top of the mid-market rate. The difference is how they earn on foreign exchange.
Is my data sent anywhere?
Only the base currency code is sent to fetch the rate list. Amounts are converted in your browser.
Conversions use standard factors and are for general information. Exchange rates are indicative and may differ from rates offered by banks.
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