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Where to get Indian Rupees for Canadian Dollar

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incanada
Member since: Apr 10

Posts: 51
Location:
Post ID: #PID

Posted on: 03-01-11 18:24:52

Hello friends

My family is travelling to India in a few days and I was wondering where could I get Indian Rupees in Toronto for Candian dollars at a good exchange rate for them to carry with them while travelling.

Any pointers in this regard woudl be of great help

Thanks in advance

sudesingh
Member since: Jul 04

Posts: 2085
Location: Toronto
Post ID: #PID

Posted on: 03-01-11 21:48:10

Quote:
Originally posted by incanada

Hello friends

My family is travelling to India in a few days and I was wondering where could I get Indian Rupees in Toronto for Candian dollars at a good exchange rate for them to carry with them while travelling.

Any pointers in this regard woudl be of great help

Thanks in advance

Try one of the Indian banks, SBI or ICICI. I know SBI issues INR Draft for you to carry

To check the rate at SBI try their automated system - 416-865-0414 x2400 (24 hrs)

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HAMRAHI
Member since: Dec 10

Posts: 134
Location: Toronto
Post ID: #PID

Posted on: 04-01-11 01:03:17

Quote:
Originally posted by sudesingh

Quote:
Originally posted by incanada

Hello friends

My family is travelling to India in a few days and I was wondering where could I get Indian Rupees in Toronto for Candian dollars at a good exchange rate for them to carry with them while travelling.

Any pointers in this regard woudl be of great help

Thanks in advance

Try one of the Indian banks, SBI or ICICI. I know SBI issues INR Draft for you to carry

To check the rate at SBI try their automated system - 416-865-0414 x2400 (24 hrs)

I would suggest that do not worry about searching for Indian Rupees in Toronto, it may be not advisable or safer too. (**You can't trust, Indian immigration can make an issue of bringing Rupees taking out of country)I think legally Indian Rupees doesn't go out of India, in Hard cash Rupee form. So you may not find in Toronto bank too. Draft may be difficult to cash out at any point. The most easy thing to give them a small amount ($500-1000) of US $ ( $5, $20 and $50 bills will be perfect) which can be exchanged at any airport or any where they want. Just ask them to show ID at exchange point and take receipts whereever they exchange.
Second option, transfer some amount using Western union or Money Gram which can be reached destination very fast and they can picked up in India with in minutes by showing ID. You keep original receipt and give them a copy of tracking number and code word for faster clearance in India. You can find out in advance where exactly they will pick up money in India or select preferred pick up location.

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web2000
Member since: May 06

Posts: 849
Location:
Post ID: #PID

Posted on: 04-01-11 11:06:11

Quote:
Originally posted by HAMRAHI

Quote:
Originally posted by sudesingh

Quote:
Originally posted by incanada

Hello friends

My family is travelling to India in a few days and I was wondering where could I get Indian Rupees in Toronto for Candian dollars at a good exchange rate for them to carry with them while travelling.

Any pointers in this regard woudl be of great help

Thanks in advance

Try one of the Indian banks, SBI or ICICI. I know SBI issues INR Draft for you to carry

To check the rate at SBI try their automated system - 416-865-0414 x2400 (24 hrs)

I think legally Indian Rupees doesn't go out of India, in Hard cash Rupee form.

Is it true? I don't see any problem if travel with CAD $ in any country? I am asking just to confirm if it could be an issue to land with Indian rupees or there is any limit?

rajcanada
Member since: Jul 03

Posts: 2713
Location: Kitchener, ON
Post ID: #PID

Posted on: 04-01-11 13:05:56

Quote:
Originally posted by web2000

....

I think legally Indian Rupees doesn't go out of India, in Hard cash Rupee form.

Is it true? I don't see any problem if travel with CAD $ in any country? I am asking just to confirm if it could be an issue to land with Indian rupees or there is any limit?

Only Rs. 5000 is allowed to be taken outside India and I believe it is for Indian citizens only. Indian rupees is a closed currency. It is fairly easy to exchange CAD in India also.
_____________________________________
http://www.rbi.org.in/scripts/FAQView.aspx?Id=11

19. While going abroad how much Indian currency can be taken out?

A person going out of India can take out with him Indian currency notes within the limits given below:

a. upto Rs.5000 to any country other than Nepal or Bhutan, and

b. any amount in denomination not exceeding Rs.100 to Nepal or Bhutan.
_____________________________________
http://en.wikipedia.org/wiki/Indian_rupee

..............Also affecting convertibility is a series of customs regulations restricting the import and export of rupees. Legally, foreign nationals are forbidden from importing or exporting rupees, while Indian nationals can import and export only up to 5000 rupees at a time, and the possession of 500 and 1000 rupee notes in Nepal is prohibited...............

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web2000
Member since: May 06

Posts: 849
Location:
Post ID: #PID

Posted on: 04-01-11 14:22:49

Quote:
Originally posted by rajcanada

Quote:
Originally posted by web2000

....

I think legally Indian Rupees doesn't go out of India, in Hard cash Rupee form.

Is it true? I don't see any problem if travel with CAD $ in any country? I am asking just to confirm if it could be an issue to land with Indian rupees or there is any limit?

Thanks for this valuable information.

incanada
Member since: Apr 10

Posts: 51
Location:
Post ID: #PID

Posted on: 05-01-11 15:16:27

Hi

Thanks for the replies. I actually have Indian Rupees but I need lower denomination notes since my wife is travelling and she would need that upon landing in India. Any idea who could provide me with lower denomination exchange notes in return for higher denomination notes on Indian Rupees only

Thanks

Contributors: web2000(3) HAMRAHI(2) rajcanada(2) pratickm(2) incanada(2) tamilkuravan(1) Gurram(1) sudesingh(1)

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Where to get Indian Rupees for Canadian Dollar

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