Currency Exchange Calculator – Forbes Advisor INDIA

Our currency conversion calculator converts more than 200 currencies, and the rates are updated every five minutes. Among the currencies available, our calculator converts Indian rupees, Mexican pesos, Jamaican dollars, and Ghanaian cedi. It also calculates the conversion value of various cryptocurrencies, such as Bitcoin and Dogecoin.

All you have to do is input the amount, your starting currency and your ending currency to get an estimate based on current rates.

Disclaimer: Our currency calculator uses Open Exchange API to gather current exchange rates. We pull new rates every 5 minutes to ensure that the conversion you see is accurate and up to date. However, the rate you see here may not be the same rate that you’re offered by a bank or other financial institution.

How Does a Currency Conversion Calculator Work?

Our currency conversion calculator uses the current exchange rate to determine how much your money is worth in a different currency. Since this value can fluctuate due to various economic conditions, it’s important to know the current exchange rate before converting your money. Here are some of the most popular conversions that our calculator supports:

• U.S. Dollar to Indian Rupee
• U.S. Dollar to Philippine Peso
• U.S. Dollar to Mexican Peso
• U.S. Dollar to Colombian Peso
• U.S. Dollar to Pakistan Rupee
• U.S. Dollar to Chinese Yuan Renminbi
• U.S. Dollar to Brazilian Real
• U.S. Dollar to Russian Rouble
• U.S. Dollar to Jamaican Dollar
• U.S. Dollar to Dominican Peso
• U.S. Dollar to Indonesian Rupiah
• U.S. Dollar to Ghanaian Cedi
• U.S. Dollar to Peruvian Nuevo Sol
• U.S. Dollar to Argentine Peso
• U.S. Dollar to Honduran Lempira
• U.S. Dollar to Haitian Gourde

You can view the full list of currencies here. Keep in mind that the conversion provided here doesn’t consider any fees charged by the institution completing the exchange, whether it’s a bank, digital app or travel kiosk.

How To Send Money Online

It’s easier than ever to send money to friends and family internationally, thanks to online tools. The Reserve Bank of India allows Indian citizens to send money via a process called outward remittance. Every financial year, up to $2,50,000 can be transferred online by a resident individual, including minors. 

Authorized money transfer businesses like Western Union and apps like Book My Forex and Wise allow you to send money to people internationally. But keep in mind that this ease can come at a premium.

While Western Union’s charges vary by payment and payout options, Wise charges a flat fee of INR 75.20 + 1.78% of the amount that’s converted per transaction, and transactions via Book My Forex cost a bank fee of INR 225 + the goods and service tax applicable and often depend on the transaction size.

How To Exchange Money

If you’re planning to exchange money for personal use, expert travelers will tell you to skip the currency exchange kiosk at the airport—they charge some of the highest fees and often have the worst exchange rates.

Instead, use a debit or credit card that boasts zero foreign transaction fees and select local currency at the register (if you’re given the option).

If you must use cash, make an international withdrawal from an ATM.

If you have a bank account in another country, you can also use an app like Wise to transfer money to yourself for a fee of a few dollars per transaction. Once your transfer is complete, you can withdraw local currency at an ATM.

When Is the Best Time To Exchange Money?

Many factors can impact the value of the currency you’re planning to send or exchange, from economic events to the time of day.

If you’re not in a rush to exchange your currency, check the conversion value on a few different occasions before completing the transaction—you may be able to make your dollar (in whichever currency) go further.

It may also be worth checking currency values during popular currency trading periods. For instance, Indian currency trading hours are between 9 a.m. and 5 p.m. United States and London currency trading overlaps between 8 a.m. and 12 p.m., for example, and currency values can fluctuate a lot during that window. If you’re planning to convert Indian Rupee to U.S. dollars or Euros, you may want to check values during the overlap period.