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  Canada Immigration Forum > About Canada > Financial Planning > I have $ want rupee
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I have $ want rupee




I have 20000 in Canadian $ Looking for Indian rupee.
Which is service will give me max value?


 
alwaysbanned

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Member since: Sep 09
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Post ID: 222059 21-05-15 15:29:51
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lemon925
Senior Desi
Member since: May 15




Posts: 202
Location: Toronto


Compare fee vs exch rate for Western Union and ICICI.

I am not sure, if it's legal, you can exchange it with somebody you know.


 
Post ID: 222060 21-05-15 15:43:17
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tamilkuravan
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Member since: Jun 05




Posts: 5730
Location: God's own country

What is your location?
Always banned,
What is your location?
If in India, I can give you INR (cash) for the 20K Canadian dollars.
However, if you are in the GTA and want INR in draft, try some banks like SBI, TD, ICICI and they will give you the exchange rate and in draft.

If you need Hawala, try contacting your friends. They will know someone doing it.

PM me for more info (if needed).

Murali

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I am a Gents and not a Ladies.

 
Post ID: 222073 22-05-15 07:58:08
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alwaysbanned
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Member since: Sep 09




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Hi TK
Money goes to a place called Kottayam. If you can PM your number will call you.


 
Post ID: 222078 22-05-15 10:19:20
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northyork_desi
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Member since: Apr 09




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UAE Exchange is another place, similar to Western Union. They also transfer direct to bank account in India.

 
Post ID: 222079 22-05-15 10:21:03
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adamthorat
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Member since: Aug 11




Posts: 1041
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ICICI Money 2 India transfer service is good.

Your Canadian bank account gets linked to M2I and then you add your Indian recipient bank account.

It could be your account in India or someone else's doesn't matter. It could be NRE , NRO or local resident account in India, doesn't matter.

When you transfer the account after 5-6 business days it arrives in India.

Whatever official exchange rate you see on the internet say RBI site , BOC site ,Major Currency exchange sites..you will get about 2 % - 2.5 % less than that..as ICICI pockets that as the difference/commission...all banks do that so its not unique to ICICI.

So if RBI site shows 1 CAD = INR 50 , expect INR 48/47.5 from ICICI, when money arrives in India. Plus they calculate the exchange rate on the day the money is deposited not the day you send. So the currency can fluctuate up or down in the 5-6 days it takes for the money to be deposited.

RBI = Reserve Bank of India
BOC = Bank of Canada


 
Post ID: 222081 22-05-15 11:35:19
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happywoman36
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Member since: Oct 13




Posts: 1636
Location: Toronto


u won't get more than 50 INR. I checked with my brother who is GM in IDBI. U have to wait for some more days if you want good rate. If you want money immdly in account then I can help you. :) I can trf within 24 hrs anywhere.
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Revenge can be bitter sweet, but if u sit back and watch, KARMA can be pure entertainment.:)

 
Last edited by: happywoman36 on 22-05-15 12:47:13
Post ID: 222087 22-05-15 12:46:05
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Full House
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Member since: Oct 12




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Since you say you have Canadian Dollars to part with, I looked up the charts and it says that it is currently worth 50.8 Rupees to a Canadian.

You cannot get that rate. But will have to wait for the market to close, because that is what the brokers do. They will only give you the lowest rate that they see for the day. If you can wait for a few days or weeks perhaps, you might get a better exchange rate. That is a 'wishing' that you will have to make.

If you are doing this because some one needs it in a hurry, then decide to go for it. Otherwise, wait for a few more days and see if it improves and it is in your favour.

Today, even the Canadian Dollar took a beating in the financial market and expect it to go even lower before the day ends.


FH.


 
Post ID: 222092 22-05-15 13:24:32
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lemon925
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Member since: May 15




Posts: 202
Location: Toronto


With ICICI bank money gets deposited in the account immediately. whatever exchange rate you see, they give 1 rs less than that, you can call and check, if the amount is big they do give some special rate and the fee is always 5 or 10$.

whereas when you send it with Western union you get a better rate but at the same time you pay higher fee. so you have to calculate that yourself. And money here goes to another person, not to ur account.


 
Post ID: 222097 22-05-15 14:23:19
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tamilkuravan
Senior Desi
Member since: Jun 05




Posts: 5730
Location: God's own country


When I came to India in 2011, I exchanged both CAD and USD with the money changer (in India).
CAD was Rs. 45 and USD was Rs. 46.

Look how USD fortunes has changed.

Murali

Note : Always banned, I have sent to my contact number. Incidentally I live in Cochin of Kerala.

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Post ID: 222120 23-05-15 06:27:39
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Contributors:
adamthorat(2)  alwaysbanned(2)  Full House(2)  happywoman36(1)  lemon925(2)  Many(2)  mkannuri(1)  
northyork_desi(1)  tamilkuravan(2)  
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