The Indian Rupee (INR) is the official currency of India, a country that is becoming increasingly attractive to international investors and tourists. As the flow of people wishing to visit India increases, so does the interest in Indian Rupee transactions.
In this article, we will consider the features of this currency, the way to get a bank card in Indian rupees (INR) for residents and non-residents, and ways to exchange Visa/Mastercard INR in Internet exchangers.
Features of the Indian Rupee (INR) currency
The Indian rupee is divided into 100 paise. In circulation there are banknotes in denominations of 5, 10, 20, 50, 100, 200, 500 and 2000 rupees and coins in denominations of 1, 2, 5 and 10 rupees.
It should be noted that the Indian rupee (INR) also plays the role of a parallel currency in Bhutan and Nepal.
Up until 1916, the rupee was equal to 16 English pence. After 1917 and after independence, the currency has repeatedly fallen against the dollar (now they give 82 rupees for 1 dollar, but once gave 8).
How to get a bank card in INR for a non-resident
Non-residents with a business visa, as well as just tourists, can open an Indian card, with which it will be more convenient to pay for goods and services in the country. The order of actions:
- Prepare documents. This includes a Si form (issued at the hotel or flat tenant, in a word, wherever you live), passport, primary passport, 3 by 4 cm photos. Both originals and copies of documents may be required.
- Fill in the application form at the bank branch in English.
- Wait a few days or a couple of weeks (depending on the bank) until the account is opened and the card is made. A notification will be sent about the completion of the process. The only thing left is to go to the bank and get the card.
Not every Indian bank works with foreigners. The most popular in this regard are Indian Overseas Bank and Canara Bank.
The banking system in the country is very developed; there is no shortage of ATMs, terminals and branches. However, some small cafes or shops may ask for cash.
How to change Visa/Mastercard in Indian Rupees (INR) in online exchangers
Online exchanges allow you to change Visa/Mastercard INR into other currencies. The exchange process is usually simple and involves the following steps:
- Selecting a currency pair (for example, INR to USD).
- Entering the amount to be exchanged.
- Providing bank card and account information to receive the funds.
- Confirming the transaction.
Before using such services, check their reliability and consider the exchange fees. Exchange rates can fluctuate, so you should keep an eye on the exchange rate and choose the most favourable moment for the operation. Our BestChange monitoring service will help you choose the most favourable exchangers.