Bank of Baroda (BoB), one of India’s leading public sector banks, is renowned for its robust foreign exchange (forex) services. With a global network spanning over 100 overseas offices across 20 countries, BoB is a trusted name for international money transfers, forex cards, and currency exchange.
This article explores Bank of Baroda’s forex rates, features, commissions, and service details, offering valuable insights for international students, travellers, and businesses. Stay informed about how BoB’s forex services can meet your financial needs with transparency and efficiency.
Table of contents
What Are Bank of Baroda Forex Rates?
Bank of Baroda’s forex rates are real-time exchange rates for converting currencies based on the dynamic international currency market. These rates fluctuate due to market volatility, ensuring customers receive competitive pricing for their transactions.
Whether you’re exchanging USD, GBP, EUR, or other major currencies, BoB provides transparent and the cheapest currency exchange forex rates to save money.
How BOB Forex Rates Work
Forex rates at BoB are updated frequently to reflect global market trends. For instance, exchanging INR 100 for GBP might yield GBP 1 one day and GBP 1.1 the next, depending on market conditions. This real-time approach ensures customers get fair and competitive rates for their transactions.
Latest Indicative BOB Forex Rates
For the latest and best ways to exchange currency, always refer to Bank of Baroda’s official website before initiating any transactions. Below are indicative Bank of Baroda forex rates for select currencies.
| Country | Currency | Buying Rate | Selling Rate |
|---|---|---|---|
| USA | USD | 83.50 | 84.00 |
| UK | GBP | 105.20 | 106.10 |
| Europe | EUR | 88.90 | 89.50 |
| Japan | JPY | 0.55 | 0.57 |
| Singapore | SGD | 62.10 | 62.80 |
*Note: Rates are indicative and subject to change. Contact BoB or visit the official website www.bankofbaroda.in for real-time quotes.
Also Read: Looking for a Forex Card from a private bank? Check out this blog on Yes Bank Forex Card
Bank of Baroda State-of-the-Art Forex Dealing Room
BoB’s forex operations are powered by its Specialised Integrated Treasury Branch (SITB) in Bandra Kurla Complex, Mumbai. This advanced facility of the Bank of Baroda supports over 200 authorised branches across India, ensuring seamless and efficient forex transactions for customers worldwide.
Advanced Forex Dealing Room
The SITB’s modern dealing room is equipped with cutting-edge technology and communication systems. An automated dialling system enables authorised branches to provide real-time forex quotes, ensuring quick and accurate responses to customer inquiries. This infrastructure is particularly beneficial for international students and parents managing cross-border payments.
Global Network and Reach
With a presence in 20 countries, including 100+ overseas offices, BoB is a market leader in forex operations. This extensive network allows the bank to handle transactions in major currencies like USD, GBP, EUR, CHF, JPY, and more, catering to diverse customer needs.
Comprehensive Forex Services at Bank of Baroda
BoB offers a wide range of forex services designed to meet the needs of individuals, businesses, and NRIs. From currency exchange to international remittances, BoB ensures a customer-centric approach with competitive rates and minimal hassle.
Key BOB Forex Services
- Currency Exchange: Convert major currencies like USD, GBP, EUR, AUD, CAD, and more with transparent rates.
- Forex Cards: Prepaid travel cards for secure and convenient international transactions.
- International Money Transfers: Fast and reliable remittances for education, travel, or business purposes.
- Export Bill Collection: Hassle-free services for exporters through BoB’s global correspondent network.
Benefits for International Students and Travellers
BoB’s forex services are tailored to meet the needs of international students and travellers. Whether paying tuition fees or managing travel expenses, BoB’s real-time rates and efficient services ensure cost-effective transactions. The Bank of Baroda Forex cards offer added convenience, allowing users to lock in rates and avoid currency fluctuations.
Hedging and Risk Management Tools of BOB
BoB goes beyond basic forex transactions by offering advanced financial instruments to manage currency risks. These tools help customers protect against market volatility and ensure financial stability.
Forward Covers and Derivatives
- Forward Covers: Lock in exchange rates for future transactions to avoid losses due to currency fluctuations.
- Derivatives Products: Use sophisticated tools like options and swaps to hedge against market risks. These are ideal for businesses and individuals with significant international exposure.
Why Hedging Matters
Hedging tools provide predictability in international dealings, especially for importers, exporters, and students paying overseas fees. By mitigating currency risk, BoB helps customers plan their finances with confidence.
Commissions and Fees for Forex Transactions
BoB is transparent about its forex-related charges, ensuring customers understand the costs involved. While specific commissions vary based on transaction type and amount, here’s an overview:
- Forex Transactions: No additional charges for transactions through BoB’s FX Retail platform, except standard service fees.
- Bid Bonds: 25% commission for issuing bid bonds for international projects, with the balance recovered if the bid materialises.
- GST: Applicable at 18% on service charges, as per prevailing regulations.
- SWIFT/Courier Charges: Additional fees may apply for international transfers, based on the transaction’s specifics.
There are various factors affecting exchange rate. For the latest fee structure, visit BoB’s Service Charges page.
Why Choose Bank of Baroda for Forex Services?
Bank of Baroda’s forex services stand out due to their reliability, transparency, and customer-focused approach. There are various factors affecting exchange rate of the BOB, but here is why BoB is a top choice:
- Competitive Rates: Real-time rates aligned with global market trends.
- Extensive Network: Over 200 forex-designated branches and a global presence in 20 countries.
- Advanced Technology: State-of-the-art dealing rooms for fast and accurate transactions.
- Tailored Solutions: Services designed for students, travellers, and businesses, including hedging tools.
- Transparency: Clear fee structures and real-time rate updates.
Also Read: Facing issues while choosing between debit and Forex cards? Check out this blog on Forex Cards Vs International Debit Card
Bank of Baroda’s forex services combine cutting-edge technology, a global network, and customer-centric solutions to deliver exceptional value. Whether you’re a student paying overseas fees, a traveller needing a forex card, or a business managing international payments, BoB’s competitive rates, transparent fees, and advanced hedging tools make it a top choice.
FAQs
Bank of Baroda’s forex rates are real-time exchange rates for currency conversions, reflecting fluctuations in the global currency market. These rates are available for major currencies like USD, GBP, EUR, and JPY, ensuring competitive pricing for transactions such as remittances, forex cards, and currency exchange. For the latest rates, visit www.bankofbaroda.in.
Bank of Baroda’s forex operations are managed through its state-of-the-art dealing room at the Specialised Integrated Treasury Branch (SITB) in Bandra Kurla Complex, Mumbai. This advanced facility, equipped with modern communication systems, supports over 200 authorised branches across India, enabling real-time quotes and efficient handling of forex transactions for customers worldwide.
Bank of Baroda offers comprehensive forex services through its network of over 200 authorised branches and 100+ overseas offices in 20 countries. It provides currency exchange for major currencies (e.g., USD, GBP, EUR, CHF, JPY), forex cards, and international remittances. These services cater to individuals, students, travellers, and businesses, ensuring seamless and cost-effective transactions.
Bank of Baroda provides sophisticated tools like forward covers and derivatives (e.g., options, swaps) to manage currency risks. These instruments allow customers, including businesses and NRIs, to hedge against exchange rate fluctuations, ensuring stability in international transactions such as imports, exports, or overseas education payments. Contact BoB’s SITB for tailored solutions.
Bank of Baroda’s indicative forex rates offer a transparent benchmark for currency conversions, updated in real-time to reflect market conditions. As of June 4, 2025, indicative rates include USD/INR at approximately 85.20 for transactions up to USD 5,000. Rates vary by region and transaction size; check www.bankofbaroda.in or contact the Foreign Exchange Department for precise quotes.
BoB handles major currencies, including USD, GBP, EUR, CHF, JPY, AUD, CAD, and SGD, among others.
Check indicative rates on BoB’s official website or contact authorised branches for real-time quotes.
BoB offers forward covers and derivatives to manage currency risks, ideal for businesses and individuals with international transactions.
Hope you liked reading our blog about Bank of Baroda Forex rates. To know more about education loans, the best bank accounts for students, forex and banking experience for global students or international money transfers, reach out to our experts at 1800572126 to help ease your study abroad experience.
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