Indian Currency

Indian currency comes in the form of paper notes and coins. Paper notes are called Rupees (Rs) and only 10, 20, 50, 100, 500 and 1000 rupees are available. Where as coins are called paise and there are coins of 5,10,20,25 and 50 paise and Rs. 1, 2 and 5. One Indian Rupee is equivalent to 100 paise. Information on current exchange rates is easily available at banks. You can get your money exchanged at international airports. While travelling to India, you must carry with you some cash in Indian currency and Travellers’ cheques. When it comes to foreign currencies, US dollar is accepted more. If you are travelling with cash, bank notes and travellers’ cheques amounting to US $ 2,500 or equivalent in any other currency, you do not need to submit declaration form at the time of entering India but for US $ 10,000 you certainly have to. Besides banks, there are many authorized local money exchangers in most of the regions of India. Banks and international airports offer 24 hours money exchange facilities through their ATM service. From Monday to Friday banks in India remain open for visitors from 10 am to 2 pm and on Saturday from 10am to 12 noon. Money can be transferred to India by foreign banks with branches in India and also with Indian banks with branches abroad such as the State bank of India, Bank of Kathmandu, Bank of Baroda and many more. Majority of International banks have their branches in many parts of India. Hotels, restaurants, shopping malls and emporiums accept credit cards. American Express, mastercards, Dinner club and Visa are more acceptable.

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