Carrying money to India

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HelloG
Member since: Jan 08

Posts: 338
Location: vasudhev kutumbkam
Post ID: #PID

Posted on: 19-02-08 18:07:27

Hello All,
We are palnning to visit India for a family wedding and so have to carry some good amount of money too.This is the first time we are travelling back after coming to Canada as PR.
Looking for suggestions as to what is the best way to carry money. Draft/master card/Visa or any other? Not very keen on carrying cash and how much is allowed.
We want to carry anywhere between 5k to 10k.
Please share your preferences.

kumar_vadivelu
Member since: Jul 07

Posts: 114
Location:
Post ID: #PID

Posted on: 19-02-08 18:51:54

Do not carry Canadian Dollars $$$ to India. The reason is you will not get good exchange rates for the Canadian dollars in India; Instead send your Canadian Dollars to your Indian savings account via wire transfer or take a Demand Draft (DD) in Canada in Indian Rupees either from State Bank of India or ICICI and en cash the drafts in India.

The RBI Dollar exchange rates are different within the country and outside the country.

Also please do not buy Indian Rupees at the airports (departure and landing) because the exchange rates are so low and they take commissions. The best way send money to Indian Accounts or take an INR DD in Canada.

Bon Voyage!.

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I am new

Fido
Member since: Aug 06

Posts: 5286
Location: Canada
Post ID: #PID

Posted on: 19-02-08 20:40:17

How about Traveller Cheques ?? They are safe , fast and have a good exchange rate .

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Fido.

hchheda
Member since: Aug 05

Posts: 2245
Location: Woodbridge
Post ID: #PID

Posted on: 19-02-08 20:49:15

Quote:
Originally posted by HelloG

Hello All,
We are palnning to visit India for a family wedding and so have to carry some good amount of money too.This is the first time we are travelling back after coming to Canada as PR.
Looking for suggestions as to what is the best way to carry money. Draft/master card/Visa or any other? Not very keen on carrying cash and how much is allowed.
We want to carry anywhere between 5k to 10k.
Please share your preferences.

HelloG,

Please check your PM.

Hiren

3m
Member since: Aug 06

Posts: 65
Location:
Post ID: #PID

Posted on: 30-10-08 10:22:34

Hi Folks,
Any good suggestions for carrying money to India . I am scheduled to visit during Dec, 08, and I need some suggestions on how best to carry money to obtain the right value of our currency?
Pls share youe experiences

ftfl
Member since: Jul 06

Posts: 2335
Location:
Post ID: #PID

Posted on: 30-10-08 12:57:20

If you already have bought US Dollars, then it is O.K.

Some times we loose exchanging the same here and then a second time in India. So, we get beat TWICE. To avoid this, if it is Under a $1,000.00 Canadian, then take it there and Exchange it anywhere where you will get a good rate. (Here the Banks are taking 4% to convert to US, currently.)

Here is a web site that updates the EXCHANGE Rated from time to time so that you can see it from anywhere you go. It is web based. (Look for inverse quotes)

Hope this helps you a little.

Freddie.

http://www.xe.com/

3m
Member since: Aug 06

Posts: 65
Location:
Post ID: #PID

Posted on: 31-10-08 10:24:34

Hi ftfl,
Thanks for your reply, I have not brought any US $ as yet, and the amt is roughly 7-8 k,
pls share your personal experiences.

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