Which currency for India?

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mnichols
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Which currency for India?

Post by mnichols »

I'm off to India (Himalayas) next week, and want to order my currency

The national currency in India is the Rupee but the Post Office (online) don't sell them, my currency card (Caxton) don't provide them as an option and my bank (Lloyds) is recommending US Dollars and doesn't offer Rupees

I'm flying into Delhi and then immediately heading north to Manali and then cycling to Leh. I'm guessing that once I leave Delhi the opportunities to draw out cash will be limited so I guess I will have to carry all the money that I need for the trip (16 days).

I'm going with a tour company so accommodation and food will be paid for (mostly) but I will need to buy snacks along the road and tip the guides, etc

What currency do people recommend?

Are travellers cheques useful or not?
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al_yrpal
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Re: Which currency for India?

Post by al_yrpal »

Get a Halifax Clarity card and get a cash advance from a Bank's ATM as soon as you get there.
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peterdpusey
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Re: Which currency for India?

Post by peterdpusey »

Halifax Clarity card to use as a credit card and a Starling bank card as you can take out £200 a day in any currency and if you have online banking you can transfer Uk sterling into it as and when you want to draw down the local currency. With the app you can also lock the card and unlock it as and when.
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Mick F
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Re: Which currency for India?

Post by Mick F »

It's been many years since I was in India, but I'm still aware that their Rupees are a problem. They much prefer US Dollars or Sterling and probably Euro.

The way they do the currency business out there, is to offer you FAR more Rupees for your buck on the streets than you can get at a bank at the official exchange rate. They are desperate for foreign currency.
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hufty
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Re: Which currency for India?

Post by hufty »

I don't know if there's still a street level black market for foreign exchange, Mick F, but in any case I wouldn't get involved on a two week trip as you'd probably end up with a fistful of demonetised notes or something.

There are cash machines throughout India so I would expect to do it all via ATM. Delhi/Delhi Airport won't be a problem, Manali and Leh won't be a problem, I think there were ATMs in Keylong, and probably some along the last 50km into Leh as it's pretty built up with army bases and so on. Failing that I'm sure you'd also be able to get a cash advance against a card in the Leh and Manali backpacker ghettos.

There's probably not enough time to get a Clarity Card? but if you get a large wad out on your normal debit card, the charges probably won't be too bad as a percentage, depending on who you bank with. It's when you get a tenner out at a time that you get clobbered, or if you have one of moneysavingexpert.com's bank cards from hell.

For backup currency in India I would still take a bit of sterling, but don't know if I would rely on plastic tenners being accepted yet. I didn't know you could still get travellers cheques!
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Bmblbzzz
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Re: Which currency for India?

Post by Bmblbzzz »

I lived in India till 2010 and haven't been back since 2012 so my knowledge isn't the latest but it's pretty reliable. No point taking USD as that means losing on two transactions, if you want to take cash just take GBP. There are a number of exchange places you can change GBP for INR (and of course back again if you have any left over at the end of your trip). As ever, avoid those at airports if you don't want to be ripped off with the rate. But carrying large amounts of cash with you doesn't really sound very safe. Better to withdraw as needed from local ATMS. Make sure you inform your bank here that you'll be doing this, so they don't block your card. Small towns don't have ATMs, you'll have to find them in larger places.
mnichols
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Re: Which currency for India?

Post by mnichols »

I did get a Halifax Clarity card for the trip. But as it's a credit card was planning to make cash withdrawals on the caxton or lloyds

I'll phone them up tomorrow and let them know

Thanks
mnichols
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Re: Which currency for India?

Post by mnichols »

Do they take stirling coins as well or just notes?

As our smallest note is now a fiver that's could be a bit costly rounding up to the next five
Cyril Haearn
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Re: Which currency for India?

Post by Cyril Haearn »

Interested to know whether € is a world currency
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simonhill
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Re: Which currency for India?

Post by simonhill »

Euro is definitely a world currency and far more widely accepted than pound.

For India you need rupees, it's what you will use everywhere except a few high class hotels. I agree, draw some out using ATM. If your main expenses are already paid, then you probably won't want much for 17 days. I used to live on less than a tenner a day for everything.

Take a few good condition Sterling notes as a fallback. You'll find moneychangers that will take them, or a bank if you've got a few hours to kill.

The way to use the Clarity is to draw cash, then pay it off immediately. That way you only pay a few pence in interest and no charges. I have a linked current account for this.

The reason you can't get rupees is because it is a controlled currency and should not be taken outside India. Of course people do and I'm sure there are plenty of areas in England where you could change.

Very unlikely anyone will take coins. They are more likely to expect them as souvenirs or presents.
crazydave789
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Re: Which currency for India?

Post by crazydave789 »

dollars are generally accepted everywhere are all the same size and in small denominations still, just make a note of the exchange rates. often a hard currency can get you a better deal as there are usually all sorts of local trades going on.

I know a few people who carry sterling, dollars and euros in their wallets as standard.
simonhill
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Re: Which currency for India?

Post by simonhill »

As made above, the point about taking $s is that you need to get them. Given exchange rate spreads at places like the PO, you'll loose about 5% just changing. Then you may not even use them.

Better off to use ATM for sensible amounts and then change back if you dont spend. The MasterCard rate on Clarity card is almost market rate with very little spread.

One thing to watch out for is if ATM offers to do it in GBP (£). Do not take this option as it is a rip off and will give a very bad rate.

Poster's comment above about a fiver being a large smallest note . This would be final exchange and so only risk losing a small amount if you can't spend it.
robing
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Re: Which currency for India?

Post by robing »

Indian currency is closed, so you can't get any until you arrive in the country. Just take gb pounds. I went there last December for a fortnight. Took £350 and still had a hundred quid left at the end!
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MrsHJ
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Re: Which currency for India?

Post by MrsHJ »

Really interesting-noted on the clarity card.

When we returned from Zimbabwe recently we weren't (in theory-our bags weren't examined) permitted to take currency out of the country. That included us dollars/sterling above a certain level as the country has run out of money. However, as the demand for dollars over there is huge we had sold our spare dollars to my brother before leaving (he transferred uk cash via bank for them).

Nb subject to the appalling potholes Zimbabwe looks really promising for cycle touring although I didn’t cycle whilst there.
Last edited by MrsHJ on 19 Jun 2018, 8:58am, edited 1 time in total.
Alan O
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Re: Which currency for India?

Post by Alan O »

I agree with those who say taking USD is a waste of money, as GBP are just as easily exchangeable in India and there's no point paying two lots of exchange rate spreads. It's a long time since I visited India, but I'm pretty sure that situation hasn't changed.

On the notes front, I'd definitely take clean untorn ones. It's surprising how absolutely filthy the local notes can get in that part of the world, yet currency changers will often turn their noses up at even a slightly grubby £20. I'd probably avoid plastic notes too, as they're new and even slightly remote places might not be familiar with them - I'd take good old paper twenties.

But most of all, have a wonderful time - India has the potential to leave you altered forever, usually in a good way :)
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