{"id":9039,"date":"2023-12-27T14:37:31","date_gmt":"2023-12-27T09:07:31","guid":{"rendered":"https:\/\/fly.finance\/blog\/?p=9039"},"modified":"2024-01-12T17:12:18","modified_gmt":"2024-01-12T11:42:18","slug":"best-ways-to-exchange-currency","status":"publish","type":"post","link":"https:\/\/fly.finance\/blog\/money-transfer\/best-ways-to-exchange-currency\/","title":{"rendered":"Best Ways to Exchange Currency"},"content":{"rendered":"\n<p><strong>Best Ways to Exchange Currency:<\/strong> Whether you are a traveller exploring foreign lands or a student with global dreams, the process of exchanging currency is a critical aspect. Fluctuating exchange rates and varying fees charged by different platforms make it challenging to choose the best way to exchange currency.&nbsp;Understanding currency exchange rates and where to exchange currency is crucial. Continue reading to get a gist of currency exchange so that you can get the best rates for currency conversion.&nbsp;<\/p>\n\n\n\n<div class=\"wp-block-yoast-seo-table-of-contents yoast-table-of-contents\"><h2 id=\"table-of-contents\">Table of contents<\/h2><ul><li><a href=\"#h-what-is-currency-exchange\" data-level=\"2\">What is Currency Exchange?<\/a><\/li><li><a href=\"#h-how-does-a-currency-exchange-work\" data-level=\"2\">How Does a Currency Exchange Work?<\/a><\/li><li><a href=\"#h-best-ways-to-exchange-currency\" data-level=\"2\">Best Ways To Exchange Currency<\/a><ul><li><a href=\"#h-exchanging-currency-at-indian-banks\" data-level=\"3\">Exchanging Currency at Indian Banks<\/a><\/li><li><a href=\"#h-withdrawal-through-atm\" data-level=\"3\">Withdrawal through ATM<\/a><\/li><li><a href=\"#h-through-money-exchange-agencies-approved-by-rbi\" data-level=\"3\">Through Money Exchange Agencies Approved by RBI<\/a><\/li><\/ul><\/li><li><a href=\"#h-key-pointers-to-consider-when-exchanging-currency\" data-level=\"2\">Key Pointers to Consider When Exchanging Currency<\/a><\/li><li><a href=\"#h-faqs\" data-level=\"2\">FAQs<\/a><\/li><\/ul><\/div>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-what-is-currency-exchange\"><span id=\"what-is-currency-exchange\">What is Currency Exchange?<\/span><\/h2>\n\n\n\n<p>A currency exchange is a licenced business that allows you to exchange one currency for another. For example- exchanging Indian rupees for US Dollars, or Thai Baht for Dhiram.&nbsp;<\/p>\n\n\n\n<p>Currency exchange of physical money- coins and notes is done over the counter at places like banks, credit unions, airports, hotels, and resorts. These platforms make money by charging fees to exchange currency.&nbsp;<\/p>\n\n\n\n<p class=\"has-pale-ocean-gradient-background has-background\"><strong>Also Read: Looking to manage financial expenses when studying abroad in Canada? Check out our blog on <\/strong><a href=\"https:\/\/fly.finance\/blog\/money-transfer\/what-is-a-gic-account\/\"><strong>What is a GIC Account<\/strong><\/a><strong> and navigate low-risk investment options when in Canada.&nbsp;<\/strong><\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-how-does-a-currency-exchange-work\"><span id=\"how-does-a-currency-exchange-work\">How Does a Currency Exchange Work?<\/span><\/h2>\n\n\n\n<p>Physical or online currency exchange businesses allow you to exchange the currency of one country for another. For example- if you want to exchange US Dollars for Indian currency, you would bring your INR to the currency exchange store\/ platform, and buy US Dollars with them. The amount of Dollars you will be able to purchase depends on the exchange rates set by the central banks of different countries.&nbsp;<\/p>\n\n\n\n<p>For instance- the exchange rate for exchanging 1000 INR into dollars is 12.6 for the day. This means that for every 1000 Indian rupees spent, you can buy 12.6 Dollars if traded at the exchange rate. However, the currency exchange platforms may modify this rate higher. In such a scenario, you will be able to get fewer dollars in exchange for 1000 INR spent.&nbsp;<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-best-ways-to-exchange-currency\"><span id=\"best-ways-to-exchange-currency\">Best Ways To Exchange Currency<\/span><\/h2>\n\n\n\n<p>To save money and manage your finances wisely, it is important to consider exchanging currency at Banks, through ATMs, or through money exchange centres approved by the RBI. Let&#8217;s check about the best ways to exchange currency-&nbsp;<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-exchanging-currency-at-indian-banks\"><span id=\"exchanging-currency-at-indian-banks\">Exchanging Currency at Indian Banks<\/span><\/h3>\n\n\n\n<p>To exchange currency at Indian Banks is a fair deal because you get the best exchange rates and great assistance from bank staff. Indian banks are not only trustworthy but also the safest place to exchange money.&nbsp;<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-withdrawal-through-atm\"><span id=\"withdrawal-through-atm\">Withdrawal through ATM<\/span><\/h3>\n\n\n\n<p>Getting currency exchanged through ATMs is one of the most convenient ways. You could utilize your ATM Debit Card from your country of residence. Banks may also impose service fees when you are using your ATM card abroad.&nbsp;<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-through-money-exchange-agencies-approved-by-rbi\"><span id=\"through-money-exchange-agencies-approved-by-rbi\">Through Money Exchange Agencies Approved by RBI<\/span><\/h3>\n\n\n\n<p>The best way to exchange currency is through money exchange agencies that are approved by the RBI. You don\u2019t need to have an account with them to exchange currency. Multiple agencies all over India offer great exchange rates.&nbsp;<\/p>\n\n\n\n<p>You can also purchase the <a href=\"https:\/\/fly.finance\/blog\/money-transfer\/cheapest-forex-card-for-students\/\"><strong>cheapest Forex cards<\/strong><\/a> to help you send money internationally with low transfer fees.&nbsp;<\/p>\n\n\n\n<p class=\"has-pale-ocean-gradient-background has-background\"><strong>Also Read: Check our blog on <\/strong><a href=\"https:\/\/fly.finance\/blog\/education-loan\/education-loan-for-mba-without-collateral\/\"><strong>Education Loan for MBA without Collateral<\/strong><\/a><strong>. Learn about the top banks providing the same, its benefits and the eligibility criteria.&nbsp;<\/strong><\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-key-pointers-to-consider-when-exchanging-currency\"><span id=\"key-pointers-to-consider-when-exchanging-currency\">Key Pointers to Consider When Exchanging Currency<\/span><\/h2>\n\n\n\n<p>To get the best exchange rates possible, here are a few pointers you should keep in mind when you exchange currency &#8211;&nbsp;<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Keep an eye on currency exchange rates and compare them across different providers to get the best rate possible.&nbsp;<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Be aware of the fees or commissions charged for currency exchange, as it can impact the total amount received.&nbsp;<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Monitor market trends and fluctuations as exchange rates can vary daily. Consider exchanging your currency when the exchange rates are favourable.&nbsp;<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Explore ATMs, credit cards, forex cards, or traveller\u2019s checks which might offer competitive rates.&nbsp;<\/li>\n\n\n\n<li>Do not exchange currency at airports as <a href=\"https:\/\/fly.finance\/blog\/money-transfer\/airport-currency-exchange-rate\/\"><strong>airport currency exchange<\/strong><\/a> rates are very high. They charge 10-15% of the transaction fee to cover their profits and operational costs.&nbsp;<\/li>\n<\/ul>\n\n\n\n<p>Considering all these pointers can help you in getting the best exchange rates and the best ways to exchange currency.&nbsp;<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-faqs\"><span id=\"faqs\">FAQs<\/span><\/h2>\n\n\n\n<div class=\"schema-faq wp-block-yoast-faq-block\"><div class=\"schema-faq-section\" id=\"faq-question-1703748777436\"><strong class=\"schema-faq-question\"><strong>What is the cheapest way to exchange currency?<\/strong><\/strong> <p class=\"schema-faq-answer\">Although a small fee is charged whenever you exchange currency, your bank or credit unions are the cheapest ways to exchange currency.\u00a0<\/p> <\/div> <div class=\"schema-faq-section\" id=\"faq-question-1703748787498\"><strong class=\"schema-faq-question\"><strong>Which way would be considered the cheapest method to exchange currency in India?<\/strong><\/strong> <p class=\"schema-faq-answer\">The cheapest method to exchange currency in India is ATM withdrawals. One can use a debit card from their country of origin to withdraw money from ATMs in India.<\/p> <\/div> <div class=\"schema-faq-section\" id=\"faq-question-1703748831949\"><strong class=\"schema-faq-question\"><strong>Who is allowed to exchange currency in India?<\/strong><\/strong> <p class=\"schema-faq-answer\">Banks with AD-I licences from the RBI and money changers with both AD-II and FFMC licenses can exchange currencies in India.<\/p> <\/div> <div class=\"schema-faq-section\" id=\"faq-question-1703748839959\"><strong class=\"schema-faq-question\"><strong>Should I exchange my currency at the airport?<\/strong><\/strong> <p class=\"schema-faq-answer\">You can always exchange currencies at the airport but it is not advisable to do so. Vendors at airports are well aware of the fact that the passengers have come in a hurry and need immediate local currency. They end up charging 10-15% extra to cover their profits and operating expenses.\u00a0<\/p> <\/div> <div class=\"schema-faq-section\" id=\"faq-question-1703749015877\"><strong class=\"schema-faq-question\"><strong>How much foreign currency is permissible for NRIs to take out of India?<\/strong><\/strong> <p class=\"schema-faq-answer\">Non-residents, tourists, and foreign nationals are permitted to take currency notes outside of India up to a maximum of Rs.25,000 per person.<\/p> <\/div> <\/div>\n\n\n\n<p>This was all about foreign currency and how a currency exchange works. Avoiding currency exchanges at airports, hotels, resorts, and shopping malls is the ideal way to save your money. The best ways are exchanging currencies at banks, through ATMs, money exchange agencies approved by the RBI,&nbsp;<\/p>\n\n\n\n<p>To know more about the currency exchange, the best <a href=\"https:\/\/fly.finance\/international-bank-account\"><strong>international bank accounts for students<\/strong><\/a>, forex and banking experience for global students or <a href=\"https:\/\/fly.finance\/blog\/money-transfer\/\"><strong>international money transfers<\/strong><\/a>, reach out to our experts at 1800572126 to help ease your <a href=\"https:\/\/leverageedu.com\/\"><strong>study abroad<\/strong><\/a> experience.<\/p>\n\n\n\n<figure class=\"wp-block-table is-style-stripes\"><table><tbody><tr><td><strong>Related Blogs<\/strong><\/td><\/tr><tr><td><a href=\"https:\/\/fly.finance\/blog\/education-loan\/hdfc-bank-remittance-services\/\"><strong>HDFC Bank Remittance Services<\/strong><\/a><\/td><\/tr><tr><td><a href=\"https:\/\/fly.finance\/blog\/education-loan\/faqs-on-restructuring-scheme-of-rbi\/\"><strong>FAQs on Restructuring 2.0 Scheme of RBI<\/strong><\/a><\/td><\/tr><tr><td><a href=\"https:\/\/fly.finance\/blog\/money-transfer\/airport-currency-exchange-rate\/\"><strong>Airport Currency Exchange Rate<\/strong><\/a><\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p><strong>Follow Us on Social Media <\/strong><\/p>\n\n\n\n<ul class=\"wp-block-social-links is-layout-flex wp-block-social-links-is-layout-flex\"><li class=\"wp-social-link wp-social-link-instagram  wp-block-social-link\"><a href=\"https:\/\/instagram.com\/flydotfinance\" class=\"wp-block-social-link-anchor\"><svg width=\"24\" height=\"24\" viewBox=\"0 0 24 24\" version=\"1.1\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" aria-hidden=\"true\" focusable=\"false\"><path d=\"M12,4.622c2.403,0,2.688,0.009,3.637,0.052c0.877,0.04,1.354,0.187,1.671,0.31c0.42,0.163,0.72,0.358,1.035,0.673 c0.315,0.315,0.51,0.615,0.673,1.035c0.123,0.317,0.27,0.794,0.31,1.671c0.043,0.949,0.052,1.234,0.052,3.637 s-0.009,2.688-0.052,3.637c-0.04,0.877-0.187,1.354-0.31,1.671c-0.163,0.42-0.358,0.72-0.673,1.035 c-0.315,0.315-0.615,0.51-1.035,0.673c-0.317,0.123-0.794,0.27-1.671,0.31c-0.949,0.043-1.233,0.052-3.637,0.052 s-2.688-0.009-3.637-0.052c-0.877-0.04-1.354-0.187-1.671-0.31c-0.42-0.163-0.72-0.358-1.035-0.673 c-0.315-0.315-0.51-0.615-0.673-1.035c-0.123-0.317-0.27-0.794-0.31-1.671C4.631,14.688,4.622,14.403,4.622,12 s0.009-2.688,0.052-3.637c0.04-0.877,0.187-1.354,0.31-1.671c0.163-0.42,0.358-0.72,0.673-1.035 c0.315-0.315,0.615-0.51,1.035-0.673c0.317-0.123,0.794-0.27,1.671-0.31C9.312,4.631,9.597,4.622,12,4.622 M12,3 C9.556,3,9.249,3.01,8.289,3.054C7.331,3.098,6.677,3.25,6.105,3.472C5.513,3.702,5.011,4.01,4.511,4.511 c-0.5,0.5-0.808,1.002-1.038,1.594C3.25,6.677,3.098,7.331,3.054,8.289C3.01,9.249,3,9.556,3,12c0,2.444,0.01,2.751,0.054,3.711 c0.044,0.958,0.196,1.612,0.418,2.185c0.23,0.592,0.538,1.094,1.038,1.594c0.5,0.5,1.002,0.808,1.594,1.038 c0.572,0.222,1.227,0.375,2.185,0.418C9.249,20.99,9.556,21,12,21s2.751-0.01,3.711-0.054c0.958-0.044,1.612-0.196,2.185-0.418 c0.592-0.23,1.094-0.538,1.594-1.038c0.5-0.5,0.808-1.002,1.038-1.594c0.222-0.572,0.375-1.227,0.418-2.185 C20.99,14.751,21,14.444,21,12s-0.01-2.751-0.054-3.711c-0.044-0.958-0.196-1.612-0.418-2.185c-0.23-0.592-0.538-1.094-1.038-1.594 c-0.5-0.5-1.002-0.808-1.594-1.038c-0.572-0.222-1.227-0.375-2.185-0.418C14.751,3.01,14.444,3,12,3L12,3z M12,7.378 c-2.552,0-4.622,2.069-4.622,4.622S9.448,16.622,12,16.622s4.622-2.069,4.622-4.622S14.552,7.378,12,7.378z M12,15 c-1.657,0-3-1.343-3-3s1.343-3,3-3s3,1.343,3,3S13.657,15,12,15z M16.804,6.116c-0.596,0-1.08,0.484-1.08,1.08 s0.484,1.08,1.08,1.08c0.596,0,1.08-0.484,1.08-1.08S17.401,6.116,16.804,6.116z\"><\/path><\/svg><span class=\"wp-block-social-link-label screen-reader-text\">Instagram<\/span><\/a><\/li>\n\n<li class=\"wp-social-link wp-social-link-linkedin  wp-block-social-link\"><a href=\"https:\/\/www.linkedin.com\/company\/flyfinance\/\" class=\"wp-block-social-link-anchor\"><svg width=\"24\" height=\"24\" viewBox=\"0 0 24 24\" version=\"1.1\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" aria-hidden=\"true\" focusable=\"false\"><path d=\"M19.7,3H4.3C3.582,3,3,3.582,3,4.3v15.4C3,20.418,3.582,21,4.3,21h15.4c0.718,0,1.3-0.582,1.3-1.3V4.3 C21,3.582,20.418,3,19.7,3z M8.339,18.338H5.667v-8.59h2.672V18.338z M7.004,8.574c-0.857,0-1.549-0.694-1.549-1.548 c0-0.855,0.691-1.548,1.549-1.548c0.854,0,1.547,0.694,1.547,1.548C8.551,7.881,7.858,8.574,7.004,8.574z M18.339,18.338h-2.669 v-4.177c0-0.996-0.017-2.278-1.387-2.278c-1.389,0-1.601,1.086-1.601,2.206v4.249h-2.667v-8.59h2.559v1.174h0.037 c0.356-0.675,1.227-1.387,2.526-1.387c2.703,0,3.203,1.779,3.203,4.092V18.338z\"><\/path><\/svg><span class=\"wp-block-social-link-label screen-reader-text\">LinkedIn<\/span><\/a><\/li>\n\n<li class=\"wp-social-link wp-social-link-twitter  wp-block-social-link\"><a href=\"https:\/\/twitter.com\/flydotfinance\" class=\"wp-block-social-link-anchor\"><svg width=\"24\" height=\"24\" viewBox=\"0 0 24 24\" version=\"1.1\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" aria-hidden=\"true\" focusable=\"false\"><path d=\"M22.23,5.924c-0.736,0.326-1.527,0.547-2.357,0.646c0.847-0.508,1.498-1.312,1.804-2.27 c-0.793,0.47-1.671,0.812-2.606,0.996C18.324,4.498,17.257,4,16.077,4c-2.266,0-4.103,1.837-4.103,4.103 c0,0.322,0.036,0.635,0.106,0.935C8.67,8.867,5.647,7.234,3.623,4.751C3.27,5.357,3.067,6.062,3.067,6.814 c0,1.424,0.724,2.679,1.825,3.415c-0.673-0.021-1.305-0.206-1.859-0.513c0,0.017,0,0.034,0,0.052c0,1.988,1.414,3.647,3.292,4.023 c-0.344,0.094-0.707,0.144-1.081,0.144c-0.264,0-0.521-0.026-0.772-0.074c0.522,1.63,2.038,2.816,3.833,2.85 c-1.404,1.1-3.174,1.756-5.096,1.756c-0.331,0-0.658-0.019-0.979-0.057c1.816,1.164,3.973,1.843,6.29,1.843 c7.547,0,11.675-6.252,11.675-11.675c0-0.178-0.004-0.355-0.012-0.531C20.985,7.47,21.68,6.747,22.23,5.924z\"><\/path><\/svg><span class=\"wp-block-social-link-label screen-reader-text\">Twitter<\/span><\/a><\/li><\/ul>\n\n\n\n<p><strong>&nbsp;<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Best Ways to Exchange Currency: Whether you are a traveller exploring foreign lands or a student with global dreams, the process of exchanging currency is a critical aspect. Fluctuating exchange rates and varying fees charged by different platforms make it challenging to choose the best way to exchange currency.&nbsp;Understanding currency exchange rates and where to &#8230; <a title=\"Best Ways to Exchange Currency\" class=\"read-more\" href=\"https:\/\/fly.finance\/blog\/money-transfer\/best-ways-to-exchange-currency\/\" aria-label=\"Read more about Best Ways to Exchange Currency\">Read more<\/a><\/p>\n","protected":false},"author":29,"featured_media":9083,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[47],"tags":[],"class_list":["post-9039","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-money-transfer"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.2 (Yoast SEO v27.2) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Best Ways to Exchange Currency<\/title>\n<meta name=\"description\" content=\"Check here some of the best ways to exchange currency. Know about various modes, factors considered and important tips to keep in mind.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/fly.finance\/blog\/money-transfer\/best-ways-to-exchange-currency\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Best Ways to Exchange Currency\" \/>\n<meta property=\"og:description\" content=\"Check here some of the best ways to exchange currency. Know about various modes, factors considered and important tips to keep in mind.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/fly.finance\/blog\/money-transfer\/best-ways-to-exchange-currency\/\" \/>\n<meta property=\"og:site_name\" content=\"Fly Finance\" \/>\n<meta property=\"article:author\" content=\"https:\/\/www.facebook.com\/shubhika.garg\/\" \/>\n<meta property=\"article:published_time\" content=\"2023-12-27T09:07:31+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-01-12T11:42:18+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/flyblog.s3.ap-south-1.amazonaws.com\/wp-content\/uploads\/2023\/12\/29143258\/Best-Ways-to-Exchange-Currency-1.png\" \/>\n\t<meta property=\"og:image:width\" content=\"1024\" \/>\n\t<meta property=\"og:image:height\" content=\"640\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Shubhika Garg\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Shubhika Garg\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"5 minutes\" \/>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Best Ways to Exchange Currency","description":"Check here some of the best ways to exchange currency. Know about various modes, factors considered and important tips to keep in mind.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/fly.finance\/blog\/money-transfer\/best-ways-to-exchange-currency\/","og_locale":"en_US","og_type":"article","og_title":"Best Ways to Exchange Currency","og_description":"Check here some of the best ways to exchange currency. Know about various modes, factors considered and important tips to keep in mind.","og_url":"https:\/\/fly.finance\/blog\/money-transfer\/best-ways-to-exchange-currency\/","og_site_name":"Fly Finance","article_author":"https:\/\/www.facebook.com\/shubhika.garg\/","article_published_time":"2023-12-27T09:07:31+00:00","article_modified_time":"2024-01-12T11:42:18+00:00","og_image":[{"width":1024,"height":640,"url":"https:\/\/flyblog.s3.ap-south-1.amazonaws.com\/wp-content\/uploads\/2023\/12\/29143258\/Best-Ways-to-Exchange-Currency-1.png","type":"image\/png"}],"author":"Shubhika Garg","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Shubhika Garg","Est. reading time":"5 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/fly.finance\/blog\/money-transfer\/best-ways-to-exchange-currency\/#article","isPartOf":{"@id":"https:\/\/fly.finance\/blog\/money-transfer\/best-ways-to-exchange-currency\/"},"author":{"name":"Shubhika Garg","@id":"https:\/\/fly.finance\/blog\/#\/schema\/person\/1f13adc00f6f67e7ed5a2fb5e97bfec6"},"headline":"Best Ways to Exchange Currency","datePublished":"2023-12-27T09:07:31+00:00","dateModified":"2024-01-12T11:42:18+00:00","mainEntityOfPage":{"@id":"https:\/\/fly.finance\/blog\/money-transfer\/best-ways-to-exchange-currency\/"},"wordCount":1047,"commentCount":0,"publisher":{"@id":"https:\/\/fly.finance\/blog\/#organization"},"image":{"@id":"https:\/\/fly.finance\/blog\/money-transfer\/best-ways-to-exchange-currency\/#primaryimage"},"thumbnailUrl":"https:\/\/flyblog.fly.finance\/wp-content\/uploads\/2023\/12\/29143258\/Best-Ways-to-Exchange-Currency-1.png","articleSection":["International Money Transfer"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/fly.finance\/blog\/money-transfer\/best-ways-to-exchange-currency\/#respond"]}],"accessibilityFeature":["tableOfContents"]},{"@type":["WebPage","FAQPage"],"@id":"https:\/\/fly.finance\/blog\/money-transfer\/best-ways-to-exchange-currency\/","url":"https:\/\/fly.finance\/blog\/money-transfer\/best-ways-to-exchange-currency\/","name":"Best Ways to Exchange Currency","isPartOf":{"@id":"https:\/\/fly.finance\/blog\/#website"},"primaryImageOfPage":{"@id":"https:\/\/fly.finance\/blog\/money-transfer\/best-ways-to-exchange-currency\/#primaryimage"},"image":{"@id":"https:\/\/fly.finance\/blog\/money-transfer\/best-ways-to-exchange-currency\/#primaryimage"},"thumbnailUrl":"https:\/\/flyblog.fly.finance\/wp-content\/uploads\/2023\/12\/29143258\/Best-Ways-to-Exchange-Currency-1.png","datePublished":"2023-12-27T09:07:31+00:00","dateModified":"2024-01-12T11:42:18+00:00","description":"Check here some of the best ways to exchange currency. Know about various modes, factors considered and important tips to keep in mind.","breadcrumb":{"@id":"https:\/\/fly.finance\/blog\/money-transfer\/best-ways-to-exchange-currency\/#breadcrumb"},"mainEntity":[{"@id":"https:\/\/fly.finance\/blog\/money-transfer\/best-ways-to-exchange-currency\/#faq-question-1703748777436"},{"@id":"https:\/\/fly.finance\/blog\/money-transfer\/best-ways-to-exchange-currency\/#faq-question-1703748787498"},{"@id":"https:\/\/fly.finance\/blog\/money-transfer\/best-ways-to-exchange-currency\/#faq-question-1703748831949"},{"@id":"https:\/\/fly.finance\/blog\/money-transfer\/best-ways-to-exchange-currency\/#faq-question-1703748839959"},{"@id":"https:\/\/fly.finance\/blog\/money-transfer\/best-ways-to-exchange-currency\/#faq-question-1703749015877"}],"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/fly.finance\/blog\/money-transfer\/best-ways-to-exchange-currency\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/fly.finance\/blog\/money-transfer\/best-ways-to-exchange-currency\/#primaryimage","url":"https:\/\/flyblog.fly.finance\/wp-content\/uploads\/2023\/12\/29143258\/Best-Ways-to-Exchange-Currency-1.png","contentUrl":"https:\/\/flyblog.fly.finance\/wp-content\/uploads\/2023\/12\/29143258\/Best-Ways-to-Exchange-Currency-1.png","width":1024,"height":640,"caption":"Best Ways to Exchange Currency"},{"@type":"BreadcrumbList","@id":"https:\/\/fly.finance\/blog\/money-transfer\/best-ways-to-exchange-currency\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/fly.finance\/blog\/"},{"@type":"ListItem","position":2,"name":"International Money Transfer","item":"https:\/\/fly.finance\/blog\/category\/money-transfer\/"},{"@type":"ListItem","position":3,"name":"Best Ways to Exchange Currency"}]},{"@type":"WebSite","@id":"https:\/\/fly.finance\/blog\/#website","url":"https:\/\/fly.finance\/blog\/","name":"Fly Finance","description":"Explore blogs related to Education Loan, Student Bank Account, International Money Transfer, Scholarships along with latest news at Fly Finance.","publisher":{"@id":"https:\/\/fly.finance\/blog\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/fly.finance\/blog\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/fly.finance\/blog\/#organization","name":"Fly Finance","url":"https:\/\/fly.finance\/blog\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/fly.finance\/blog\/#\/schema\/logo\/image\/","url":"https:\/\/flyblog.fly.finance\/wp-content\/uploads\/2024\/01\/29151141\/Fly-Finance-Logo-1.webp","contentUrl":"https:\/\/flyblog.fly.finance\/wp-content\/uploads\/2024\/01\/29151141\/Fly-Finance-Logo-1.webp","width":1080,"height":1080,"caption":"Fly Finance"},"image":{"@id":"https:\/\/fly.finance\/blog\/#\/schema\/logo\/image\/"}},{"@type":"Person","@id":"https:\/\/fly.finance\/blog\/#\/schema\/person\/1f13adc00f6f67e7ed5a2fb5e97bfec6","name":"Shubhika Garg","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/secure.gravatar.com\/avatar\/df0315e532cdf62ee7275a4a65914c25f90ec1b0b137b1bf0bbca958325909f8?s=96&d=mm&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/df0315e532cdf62ee7275a4a65914c25f90ec1b0b137b1bf0bbca958325909f8?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/df0315e532cdf62ee7275a4a65914c25f90ec1b0b137b1bf0bbca958325909f8?s=96&d=mm&r=g","caption":"Shubhika Garg"},"description":"Hey there! I'm Shubhika- a proud graduate in English Literature and Language from Delhi University. My journey as a content writer transitioned from online teacher into the world of words. Stepping into the domain of blogs and articles, I discovered my passion for writing growing deeper and stronger. Having said that, I have experience of writing for diverse industries in automobile, technology, ed-tech, finance and mental-health; crafting details to help you find the solution to what you are looking for. Join me as I invite you all explore and learn together.","sameAs":["https:\/\/www.facebook.com\/shubhika.garg\/","https:\/\/www.instagram.com\/shubhika.garg\/","https:\/\/www.linkedin.com\/in\/shubhikagarg71\/","https:\/\/www.tumblr.com\/blog\/shubhikahere"],"url":"https:\/\/fly.finance\/blog\/author\/shubhika\/"},{"@type":"Question","@id":"https:\/\/fly.finance\/blog\/money-transfer\/best-ways-to-exchange-currency\/#faq-question-1703748777436","position":1,"url":"https:\/\/fly.finance\/blog\/money-transfer\/best-ways-to-exchange-currency\/#faq-question-1703748777436","name":"What is the cheapest way to exchange currency?","answerCount":1,"acceptedAnswer":{"@type":"Answer","text":"Although a small fee is charged whenever you exchange currency, your bank or credit unions are the cheapest ways to exchange currency.\u00a0","inLanguage":"en-US"},"inLanguage":"en-US"},{"@type":"Question","@id":"https:\/\/fly.finance\/blog\/money-transfer\/best-ways-to-exchange-currency\/#faq-question-1703748787498","position":2,"url":"https:\/\/fly.finance\/blog\/money-transfer\/best-ways-to-exchange-currency\/#faq-question-1703748787498","name":"Which way would be considered the cheapest method to exchange currency in India?","answerCount":1,"acceptedAnswer":{"@type":"Answer","text":"The cheapest method to exchange currency in India is ATM withdrawals. One can use a debit card from their country of origin to withdraw money from ATMs in India.","inLanguage":"en-US"},"inLanguage":"en-US"},{"@type":"Question","@id":"https:\/\/fly.finance\/blog\/money-transfer\/best-ways-to-exchange-currency\/#faq-question-1703748831949","position":3,"url":"https:\/\/fly.finance\/blog\/money-transfer\/best-ways-to-exchange-currency\/#faq-question-1703748831949","name":"Who is allowed to exchange currency in India?","answerCount":1,"acceptedAnswer":{"@type":"Answer","text":"Banks with AD-I licences from the RBI and money changers with both AD-II and FFMC licenses can exchange currencies in India.","inLanguage":"en-US"},"inLanguage":"en-US"},{"@type":"Question","@id":"https:\/\/fly.finance\/blog\/money-transfer\/best-ways-to-exchange-currency\/#faq-question-1703748839959","position":4,"url":"https:\/\/fly.finance\/blog\/money-transfer\/best-ways-to-exchange-currency\/#faq-question-1703748839959","name":"Should I exchange my currency at the airport?","answerCount":1,"acceptedAnswer":{"@type":"Answer","text":"You can always exchange currencies at the airport but it is not advisable to do so. Vendors at airports are well aware of the fact that the passengers have come in a hurry and need immediate local currency. They end up charging 10-15% extra to cover their profits and operating expenses.\u00a0","inLanguage":"en-US"},"inLanguage":"en-US"},{"@type":"Question","@id":"https:\/\/fly.finance\/blog\/money-transfer\/best-ways-to-exchange-currency\/#faq-question-1703749015877","position":5,"url":"https:\/\/fly.finance\/blog\/money-transfer\/best-ways-to-exchange-currency\/#faq-question-1703749015877","name":"How much foreign currency is permissible for NRIs to take out of India?","answerCount":1,"acceptedAnswer":{"@type":"Answer","text":"Non-residents, tourists, and foreign nationals are permitted to take currency notes outside of India up to a maximum of Rs.25,000 per person.","inLanguage":"en-US"},"inLanguage":"en-US"}]}},"_links":{"self":[{"href":"https:\/\/fly.finance\/blog\/wp-json\/wp\/v2\/posts\/9039","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/fly.finance\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/fly.finance\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/fly.finance\/blog\/wp-json\/wp\/v2\/users\/29"}],"replies":[{"embeddable":true,"href":"https:\/\/fly.finance\/blog\/wp-json\/wp\/v2\/comments?post=9039"}],"version-history":[{"count":11,"href":"https:\/\/fly.finance\/blog\/wp-json\/wp\/v2\/posts\/9039\/revisions"}],"predecessor-version":[{"id":9090,"href":"https:\/\/fly.finance\/blog\/wp-json\/wp\/v2\/posts\/9039\/revisions\/9090"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/fly.finance\/blog\/wp-json\/wp\/v2\/media\/9083"}],"wp:attachment":[{"href":"https:\/\/fly.finance\/blog\/wp-json\/wp\/v2\/media?parent=9039"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/fly.finance\/blog\/wp-json\/wp\/v2\/categories?post=9039"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/fly.finance\/blog\/wp-json\/wp\/v2\/tags?post=9039"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}