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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.
For more information on India, contact Explore Himalaya.
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