Solving Foreign Exchange Issues in India
Posted on April 30, 2008 in Travel by Prarthna
On arriving at the Indian airports, foreign nationals can exchange currency from the booths located inside the airports. The booths are located before passing the customs areas. You may not be permitted to return to get an exchange for your foreign currency once you pass the customs clearance area. Consider doing first things first by approaching the help desks who will guide you to a currency exchange booth.
It is always recommended to approach authorized dealers like Thomas Cook and American Express to get an exchange for foreign currency. By far, banks are considered to be the most authorized dealers of foreign exchange and securities.
10 Do’s and Don’ts about Currency Exchange
Listed below are some issues you need to be very careful about while stepping your feet into India:
- You must insist on a receipt as against the currency exchange from a dealer so that you can identify the source of funds in India.
- Currency exchange receipts should have displayed the necessary details of foreign currency exchanged like – the amount and rate of currency exchange from foreign to Indian rupees.
- Fake notes can deceive you. For security reasons always approach banks who are authorized and authentic dealers of foreign exchange and securities.
- Don’t get tempted by people who claim that they are going to give you a better exchange rate than the banks.
- The receipt works wonders when you haven’t spent that much and the remaining amount of money will be refunded to you by converting the Indian rupee into foreign currency at the airport before leaving India.
- Railways tickets can be availed in Indian rupees if you show your currency exchange receipt. Otherwise, you will have to pay in foreign currency.
- Refrain from getting foreign exchange currency from local dealers which is quiet a common trend with the crooks in India.
- Banks and money changers offer premiums for cheques than for cash.
- Don’t try purchasing anything if you’re online in a local internet café.
- For all transactions, payments, etc log onto a safe computer.
Stay alert and safe. Consider approaching reliable government authorities or banks to solve your transactional queries.
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