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Where can anyone convert foreign currency?
Local banks and credit unions usually offer the best rates. Major banks, such as Chase or Bank of America, offer the added benefit of having ATMs overseas. Online bureaus or currency converters, such as Travelex, provide convenient foreign exchange services.
Is foreign currency collection legal in India?
You can bring into India foreign exchange without any limit. If, however, the value of foreign currency in cash exceeds US$ 5,000 and/or the cash plus TCs exceed US$ 10,000 it should be declared to the customs authorities at the airport in the currency declaration form (CDF), on arrival in India.
Can a bank exchange foreign currency?
Credit unions and banks will exchange your dollars into a foreign currency before and after your trip when you have a checking or savings account with them. If you need amounts of $1,000 or more, most banks require you to pick up the currency in person at a branch.
How do I cash in old foreign currency?
You can easily exchange or cash in foreign currency at a local bank, at a currency exchange business at an airport or at a coin dealership in your area. Depending on how old your money is, it might be worth more as a collectible than its face value.
How long can you keep foreign currency?
According to Foreign Exchange Management act, 2000, you must surrender the unused foreign exchange within 180 days of your return from abroad. However, if you so desire you can keep foreign exchange up to USD 2,000 in your Resident Foreign Currency (Domestic) or RFC (Domestic)Accounts .
Where can I exchange foreign currency in Delhi airport?
Once you step out of the airport building, you may not be allowed back in to exchange foreign currency. There are currency exchange counters before the customs and after the customs area in the arrival section of the Delhi airport, Terminal 3.
Why is there a high demand for currency exchange services in Delhi?
New Delhi is the capital city of India and that explains the huge influx of people. People from across the globe visit Delhi for business and leisure or take a connecting flight to another Indian city in case there are no direct flights. This spurs the demand in services for currency exchange in Delhi.
Can Tourists use forex services in Delhi?
Tourists can make opt for forex services in Delhi rather than the country they belong to if they receive reasonable currency exchange rates in Delhi. How to exchange currencies with Thomas Cook? Why Thomas Cook?
How do I know if money changers in India are licensed?
Govt or Reserve Bank of India approved money changers will have a sign proclaiming Authorized Foreign Currency Exchange. You can usually make out the genuine ones from the street corner people or ask for the Encashment certificate if you want to be sure.