Currency Calculator
Convert between currencies. Uses current exchange rates or lets you enter a manual rate.
Enter details and click Calculate
Currency Converter — INR to USD, EUR, GBP, AED & More
A currency converter is essential for international travel, online shopping from foreign websites, sending money abroad, business transactions, and understanding the real cost of imported goods. The Indian Rupee (INR) fluctuates against major currencies based on interest rates, trade balance, inflation, and global economic conditions.
Important note: This calculator uses reference exchange rates. The actual rate you get from a bank or money transfer service will be slightly different due to the "spread" — the difference between the interbank rate and the retail rate. Banks typically charge 1-4% above the interbank rate, while specialized forex services and travel cards usually offer better rates than airport exchange counters.
What is Currency Conversion?
Currency conversion is the process of exchanging one country's currency for another at an established exchange rate. Exchange rates fluctuate constantly based on supply and demand in the foreign exchange (forex) market, influenced by factors including interest rate differentials, inflation, trade balances, and geopolitical events.
- Exchange rates have two prices: the bid rate (price at which a bank buys foreign currency) and the ask rate (price at which it sells) — the difference (spread) is the bank's profit on the transaction.
- RBI regulates foreign exchange transactions in India under FEMA (Foreign Exchange Management Act) — remittances up to $250,000 per year are freely permitted under the Liberalized Remittance Scheme (LRS).
- USD/INR is the most traded currency pair involving the rupee, influenced by crude oil prices, FII flows, US Federal Reserve policy, and India's trade deficit.
- For international money transfers, compare total cost: exchange rate margin (typically 1%–4% above mid-market rate) plus transfer fees — services like Wise often offer better rates than traditional bank wire transfers.
Popular Currency Conversions from India
- INR to USD — US Dollar: For US travel, education, shopping from Amazon.com
- INR to EUR — Euro: Europe travel, European luxury goods, Schengen visa
- INR to GBP — British Pound: UK education, UK travel
- INR to AED — UAE Dirham: Dubai travel, remittances from/to NRIs in Gulf
- INR to SGD — Singapore Dollar: Singapore travel, business
- INR to CAD/AUD — For immigration to Canada/Australia
How Exchange Rates Work
- OR = Amount in INR × Exchange Rate (for buying foreign currency)
- Example = Convert ₹83,500 to USD (rate: 83.5 INR/USD)
- USD = 83,500 / 83.5 = $1,000
- Reverse = How many INR for $500?
- INR = 500 × 83.5 = ₹41,750
- Bank spread example:
- Interbank rate = 83.5 INR/USD
- Bank rate (buying USD) = 84.5 INR/USD (1.2% spread)
- ₹83,500 buys you $989.35 (not $1,000)
Ways to Exchange Currency in India
- Bank Forex Services: Reliable but rates are 1-3% above interbank
- Forex Travel Cards: Pre-loaded multi-currency cards — better rates than cash, accepted globally
- Money Transfer Services (Wise, RemitMoney): Best rates for international wire transfers
- Airport Exchange Counters: Worst rates — avoid for large amounts, use only for emergency small conversions
- UPI/BHIM for NRIs: For remittances from abroad to India
LRS (Liberalized Remittance Scheme) for Indians
RBI's LRS allows Indian residents to remit up to USD 250,000 per year for approved purposes including education abroad, travel, investment in foreign assets, and gifts. Amounts above $7 lakh per year (in education/medical) require 20% TCS (Tax Collected at Source), which can be adjusted against your income tax liability.
Frequently Asked Questions
Exchange rates change every business day based on global forex markets. This calculator uses approximate reference rates. For the live interbank rate, check the RBI website (rbi.org.in) or Google Finance. The actual rate you get from a bank will be 1-3% worse than the interbank rate due to the spread.
The rate you see online (interbank rate) is the wholesale rate at which banks trade with each other. Retail banks add a "spread" (markup) when selling currency to customers — typically 1-4% on top of the interbank rate. This spread is how banks make profit on forex transactions. Specialized forex services and travel cards usually have lower spreads than regular banks.
For travel: (1) Get a forex travel card (Thomas Cook, HDFC, ICICI offer good rates). (2) Use your international debit/credit card where accepted — Visa/Mastercard exchange rates are usually close to interbank. (3) Avoid airport exchange counters — they have the worst rates. (4) Carry some local currency cash for small purchases. Pre-book your forex before travel for potentially better rates.
RBI's LRS allows Indian residents to remit up to USD 250,000 per financial year abroad for approved purposes: education, travel, medical treatment, investment in foreign shares/property, gifts. Remittances above ₹7 lakh per year (other than education/medical) attract 20% TCS (Tax Collected at Source). This TCS is not an additional tax — you can adjust it against your total income tax liability when filing ITR.
NRIs can maintain three types of accounts in India: NRE (Non-Resident External) — held in INR, freely repatriable, tax-free in India; NRO (Non-Resident Ordinary) — for income earned in India, not freely repatriable; FCNR (Foreign Currency Non-Resident) — held in foreign currency, fully repatriable. For sending money to India, services like Wise, Remitly, and bank wire transfers are common options. Always compare exchange rates and fees before sending.