The Currency Converter converts between the Indian rupee (INR) and 19 other major currencies, including the US dollar (USD), euro (EUR), British pound (GBP), UAE dirham (AED), Saudi riyal (SAR), Singapore dollar (SGD), Japanese yen (JPY), Australian dollar (AUD) and Canadian dollar (CAD). It loads daily reference exchange rates when you open the page, shows the date they were last updated, and falls back to indicative rates if the live feed is unavailable.
How to use the currency converter
- Enter the amount.
- Choose the currency you are converting from and to.
- Press Convert. Use Swap to reverse the pair. The result also shows the rate for one unit in each direction.
How the conversion is calculated
All rates are stored against one base currency (USD), and cross rates are worked out from those:
For example, if 1 USD = 88 INR and 1 USD = 3.6725 AED, then 1 AED = 88 ÷ 3.6725 ≈ 23.96 INR. These are illustrative numbers. The calculator always uses the latest rates it has loaded.
Mid-market rate vs the rate you actually get
| Channel | Typical extra cost over the mid-market rate | Notes |
|---|---|---|
| Fintech remittance apps / forex cards | About 0.3% – 1.5% | Usually the cheapest. Compare the total INR debited. |
| Bank wire transfer (outward) | About 1% – 3% + flat fees | The bank’s TT selling rate plus charges. |
| Indian debit or credit card used abroad | About 2% – 3.5% markup + 18% GST on the markup | Some cards offer zero markup. |
| Airport exchange counters | Often 5% – 10% | Usually the most expensive. Exchange only what you need. |
There is also a small GST on currency conversion itself, based on the value converted, when you buy or sell foreign currency through a dealer.
Reference rates in India
- FBIL reference rate: Financial Benchmarks India Ltd publishes daily INR reference rates for USD, EUR, GBP and JPY. These are used for customs, accounting and contracts.
- RBI: India has a managed floating exchange rate. RBI doesn’t fix the rupee but steps in to curb excessive volatility.
- Customs exchange rate: CBIC notifies fixed rates, usually every fortnight, for valuing imports and exports.
Sending money abroad: LRS and TCS
- Under the Liberalised Remittance Scheme (LRS), resident individuals can remit up to USD 2,50,000 per financial year for permitted purposes such as education, travel, gifts, investment and maintenance of relatives.
- TCS (tax collected at source) applies on remittances above ₹10 lakh a year for most purposes. Education funded by a loan from a financial institution is exempt, and lower rates apply for education and medical treatment. TCS is not an extra tax: you can claim it back against your income tax.
Thresholds and rates change with Union Budgets. Confirm with your bank before a large remittance.
Receiving money from abroad
For freelancers and NRIs’ families receiving USD, GBP or AED: the payout app or bank converts at its own buy rate, which is usually below mid-market. For export of services, ask for an e-FIRC or FIRA, which you need as proof for GST (export of services) and income-tax records. Compare the final INR credited across platforms, not just the advertised fee.
What moves exchange rates?
- Interest rate gaps between countries (for example US Federal Reserve vs RBI policy rates)
- Trade and current-account balance: India imports a lot of crude oil, so higher oil prices tend to pressure the rupee
- Foreign investment flows (FPI and FDI) into or out of Indian markets
- Inflation differences, global risk sentiment and RBI’s forex market operations
Common currency codes
| Code | Currency | Code | Currency |
|---|---|---|---|
| INR | Indian rupee (₹) | SGD | Singapore dollar |
| USD | US dollar ($) | AUD | Australian dollar |
| EUR | Euro (€) | CAD | Canadian dollar |
| GBP | British pound (£) | JPY | Japanese yen (¥) |
| AED | UAE dirham | CNY | Chinese yuan |
| SAR | Saudi riyal | CHF | Swiss franc |
Frequently asked questions
How accurate is this currency converter?
It uses daily mid-market reference rates from an open exchange-rate feed and shows when they were last updated. Your bank or card will add a margin, so the amount you actually pay or receive will differ slightly.
Why is my bank’s dollar rate different from Google or this converter?
Banks quote buying and selling rates that include their margin and costs. The converter shows the mid-market rate, which is halfway between the buy and sell rates.
Do the AED and SAR rates change?
The UAE dirham is pegged at 3.6725 per USD and the Saudi riyal at 3.75 per USD, so their rupee rates move almost exactly with USD/INR.
How much money can I send abroad from India?
Under the Liberalised Remittance Scheme, residents can send up to USD 2,50,000 per financial year for permitted purposes. TCS may apply above ₹10 lakh, and you can claim it against your income tax.
Is it cheaper to use a forex card or a credit card abroad?
Forex cards and zero-markup cards are usually cheaper than ordinary debit or credit cards, which typically add 2–3.5% plus GST on that markup. Avoid airport exchange counters if you can.