Punjab National Bank, one of India’s popular public-sector banks, offers various currency exchange services. These services benefit international students, individuals, and businesses. This lets them trade FX, remit funds abroad, and exchange multiple currencies at competitive rates. Their dedicated helpdesk and customer support services guide you through any forex-related queries. Let’s explore various PNB forex and currency exchange services offered by the bank.
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PNB Currency Exchange
Punjab National Bank lets you exchange foreign currencies at competitive exchange rates. It allows you to buy and sell 12 global currencies, including the most common ones like USD, GBP, CAD, AUD, and EUR. The bank updates the PNB currency exchange rates regularly on its official website.
You can visit the designated PNB branches authorised for foreign exchange transactions. The bank’s online exchange rate calculator helps you determine the current exchange rate for various currencies. The tool lets you understand how much you will receive or pay when exchanging currencies with Punjab National Bank.
Also Read: Check out the best student loan apps available to seek quick, accessible financial support during your studies.
PNB Currency Exchange Rates
Here’s the list of currencies that you can exchange with Punjab National Bank along with buying and selling rates. The buying rate refers to the rate at which you will buy a foreign currency. The rate at which you will sell the foreign currency back to INR, in case you are left with it is called the selling rate.
Please note that these rates are applicable as of 5 November 2024. These are subject to change due to exchange rate fluctuations.
| Currency | Buying Rate | Selling Rate |
| USD | 82.86 | 85.27 |
| EUR | 89.39 | 93.43 |
| GBP | 106.97 | 111.03 |
| AUD | 54.37 | 56.81 |
| CAD | 59.30 | 61.74 |
| NZD | 49.19 | 51.61 |
| JPY | 53.99 | 56.40 |
| SGD | 62.53 | 64.97 |
| CHF | 96.14 | 98.57 |
| SEK | 7.48 | 8.15 |
| HKD | 10.44 | 11.11 |
| AED | 22.52 | 23.19 |
PNB International Money Transfer Services
You can send money abroad using PNB International Money Transfer services. All you need to do is visit an authorized branch and provide the necessary beneficiary details. As a resident Indian, you can send up to USD 100,000 or its equivalent per financial year under the Liberalized Remittance Scheme (LRS).
- Transfers initiated before 4:00 PM IST are processed on the same working day. Requests made after this time will be processed on the next working day.
- Generally, SWIFT payments take about 3 to 5 business days to arrive at the beneficiary’s bank.
Based on the type of transfers made, the transaction fees range from INR 500 to INR 1,000 + SWIFT fees + exchange rate markups. To make transactions, you need to log in to your PNB account and fill in the beneficiary details.
PNB Currency Exchange Rates for Money Transfers
Here’s the table listing indicative exchange rates offered by Punjab National Bank. Please note, that these rates are applicable as of 5 November 2024 and are subject to change based on the market conditions.
| Currency | Rate | Amount |
| USD/ INR | 83.60 | Up to USD 2,000 |
| GBP/ INR | 108.70 | GBP 5,000 to 10,000 |
| GBP/ INR | 108.65 | GBP 2,000 to 5,000 |
| GBP/ INR | 108.45 | GBP 250 to 2,000 |
| GBP/ INR | 106.65 | Less than GBP 250 |
The bank lays down other conditions on money exchange services and exchange rates applicability-
- For GBP to INR, money transfers up to GBP 10,000 through NET Banking, You get an extra 10 paise in the exchange rate.
- On weekdays, the exchange rate for above GBP 10,000 will be decided by the Bank at the time of the transaction for details contact the branch.
Also Read: Check out the best student loan apps available to seek quick, accessible financial support during your studies.
PNB Forex Trading
Another Forex service offered by the bank is the FX trading at competitive PNB Forex rates. PNB’s FX-Retail platform lets you buy and sell foreign currency (primarily USD/ INR) on a cash basis (same day), a tom basis (next day), or a spot basis (two days after the transaction day). There are no limits on the number of transactions per day; however, individual transaction limits apply.
To use the FX-Retail platform, customers must register and create an account on the FX-Retail website. Then, submit the necessary documents as required by PNB. The registration charges for individuals are INR 300 and for non-individuals, it is INR 1,000.
- There are no charges for transactions up to USD 50,000 in a day.
- Transactions exceeding USD 50,000 in a day will apply to a fee of 0.0004% of the total transaction value in INR terms, plus applicable GST. Additional charges may apply based on the bank’s policies.
PNB Forex Card
PNB Forex card is a travel card that makes your international transactions smooth and secure. You don’t have to worry about carrying physical cash. You can simply load the card in the desired currency and use it like a debit/ credit card at nominal fees and minimal forex-markup charges.
Also, when travelling abroad, individuals can carry up to USD 3,000 in cash. For amounts exceeding this limit, the PNB Multi-Currency Travel Card lets you load/ reload multiple currencies for easier access while travelling.
- You need to pay INR 100 + GST to issue the card.
- You must be ready with documents like Visa, Form A2, passport, and PNB forex card form.
This was all about major PNB Forex and currency exchange services offered. With competitive fees and a straightforward online process, customers can efficiently manage their remittance, currency exchange, and FX trading needs.
To learn more about forex, education loans, the best bank accounts for students, and banking experience for global students or international money transfers, reach out to our experts at 1800572126 to help ease your experience with studying abroad.
FAQs
Yes, you can exchange currency with PNB. The bank offers currency exchange services for up to 12 global currencies. These include USD, EUR, and GBP, at competitive rates that are regularly updated on their website.
PNB does deal in foreign exchange. They provide a range of services including currency exchange, international money transfers, and a dedicated FX trading platform for retail customers.
You can transfer money from PNB to an international bank. PNB facilitates international money transfers through the SWIFT network, allowing users to send money to various countries efficiently.
Yes, PNB has a forex card known as the Multi-Currency World Travel Card. This card allows travellers to load multiple currencies and offers features like locking in exchange rates and global acceptance.
The exchange rate at PNB varies and is updated regularly. Customers can check the current rates using PNB’s online exchange rate calculator, which reflects market conditions and includes a markup over the mid-market rate
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