What rate is shown
These are mid-market rates: the midpoint between the buying and selling prices on the global currency market, updated once a day. It is the fairest reference rate, but it is not the rate a bank or transfer service will give you. They add a margin, usually 0.5% to 3%, and sometimes a fixed fee.
Which currencies are included
The page covers the freely convertible currencies Indians use most: the US dollar, euro, British pound, Japanese yen, Swiss franc, Canadian, Australian, New Zealand, Singapore and Hong Kong dollars, and the Scandinavian currencies. It also covers the Middle East currencies most used for remittances to India: the UAE dirham, Saudi riyal, Qatari riyal, Kuwaiti dinar, Bahraini dinar, Omani rial and Jordanian dinar.
Frequently asked questions
Why does my bank give a different rate?
Banks and money transfer services buy currency at the market rate and sell it to you with a margin. Compare the rate they quote with the one here to see how much they add.
Why do the dirham and riyal track the dollar?
The UAE, Saudi Arabia, Qatar, Bahrain, Oman and Jordan fix their currencies to the US dollar. For example, 1 US dollar is always 3.6725 UAE dirhams and 3.75 Saudi riyals. So when the rupee weakens against the dollar, it weakens against these currencies by the same amount.
How often are the rates updated?
Once a day. Currency markets move all the time, so check with your bank or transfer service for the exact rate at the moment you send money.
Sources
- ExchangeRate-API ↗ – daily exchange rates shown here
- FBIL ↗ – India's official INR reference rates