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Currency Exchange in Kolkata
Best Foreign Currency Exchange in Kolkata
Kolkata is a major commercial and travel hub with strong demand for foreign currency exchange services. You can find various options for foreign currency exchange in Kolkata, both locally and digitally. Local currency exchange providers are available across various top localities in the city, such as Tollygunge, New Town, Esplanade, Gariahat, Park Street, New Market and many more.
Nevertheless, exchanging currency with local money changers in these places comes with challenges like rate negotiations, lack of price transparency, hassles of exploring them in person and so on. With online platforms for money exchange in Kolkata, such as MakeMyTrip powered by BookMyForex, the hassle is significantly reduced, and currency exchange comes with a more transparent and convenient forex experience.
How to Identify Genuine Foreign Currency Notes in Kolkata
You can base your identification of authentic currency notes from counterfeit notes during foreign currency exchange in Kolkata based on the following striking features. Genuine currency notes exchange ensures effortless cash transactions overseas and escape from unnecessary hassles.
Common Security Features
Watermark: If you hold a genuine currency note under the light, you will be able to identify embedded watermarks like texts, portraits or numbers, which are usually absent in counterfeit notes.
Microprinting: Check for microprinting on authentic notes, which are tiny texts or numbers. These microprintings are sharp and visible on close observation, which may be absent on fake notes.
Raised printing: The numbers, portraits and texts are printed in raised ink on genuine notes, which have a slightly rough texture. Such printing can be flat if it is a counterfeit note.
Security thread: Fine security threads embedded within the note’s thinness also signify their genuineness. You can see these threads with patterns or letters on them when holding the note against light.
Print Clarity and Texture: For authentic notes, specialised papers are used and prints are always high-precision with well-defined colours, while fake ones may carry blurred edges with uneven colours.
Major Areas and Markets in Kolkata to Buy Foreign Currency
Various popular localities and markets provide accessible foreign currency exchange in Kolkata.
Gariahat Road: Gariahat Road is an affluent neighbourhood that witnesses a decent global traveller footfall and also has several local currency exchange providers.
Lindsay Street: Known for its endless list of accommodation across the budget spectrum, Lindsay Street is also popular for its local forex providers.
New Market Area: The New Market Area of Kolkata is popular for its high visitor footfall and houses several currency exchange providers.
Park Street Area: The Park Street Area houses several local exchange providers for currency exchange in Kolkata.
Ho Chi Minh Sarani: A prominent commercial stretch near central Kolkata with convenient access to banks, hotels, and authorised forex providers.
Other popular areas for currency exchange in Kolkata include:
Kalikapur Road
Marquis Street
Ballygunge Circular Road
Taltala
Camac Street
What are the Most Famous Places in Kolkata?
You can also find various other things to explore beyond currency exchange in Kolkata. They include the likes of heritage sites and historic landmarks.
Howrah Bridge
Victoria Memorial
New Town Eco Park
Botanical Garden
Fort William
Some other famous tourist places of the city are -
Alipur Zoological Gardens
Elliot Park
Marble Palace
Towns and Cities Near Kolkata
Barasat: About 25 km from the heart of the city, Barasat is a bustling neighbourhood city with rich cultural tapestry.
Kamarpukur: A historic town nearby known to birth the greats like Ramakrishna, Kamarpukur has an enchanting landscape with winding rivers and endless greenery.
Barrackpore: A place picked by the British to establish their first barracks, this age-old town is dotted by heritage landmarks.
Howrah: Known as Kolkata’s twin city, Howrah carries a stunning blend of modernity and heritage preservation.
Hooghly: Absorbing lingering influences from various civilisations, Hooghly is worth exploring for its cultural richness.
Here are some other cities and towns located near Kolkata -
Shantipur
Chandannagar
Kalna
Nabadwip
Digha
Nearest Airports to Kolkata
The nearest airport supporting domestic and international airways traffic to and from the city is Netaji Subhash Chandra Bose International Airport (CCU) located within the city perimeters. It has an integrated Terminal 2 through which all traffic operates.
Why You Should Avoid Currency Exchange at Netaji Subhash Chandra Bose International Airport
It is ideal to avoid currency exchange at Netaji Subhash Chandra Bose International Airport in Kolkata for the following prime drawbacks of airport foreign exchange.
You shall have to pay for currency exchange at rates about 10 to 15% higher than with online platforms such as MakeMyTrip powered by BookMyForex. As the forex counters and kiosks bear high operating costs at airports, currency exchange here becomes expensive.
You may have to wait for a long time to get foreign exchange at the airport during peak hours due to long queues.
Due to low to no competition at the airports, rate negotiation and affordability remain an issue.
The forex rates calculation also bears low transparency.
Currency exchange in Kolkata Airport is rather beneficial online with MakeMyTrip powered by BookMyForex due to quick forex processing, transparent pricing and competitive rates of exchange.
Best Way to Carry Foreign Currency in Kolkata
The smartest way to travel is to keep both convenience and safety in mind.
Currency Notes in Kolkata
You can choose currency notes as your medium for exchanging foreign currency in Kolkata as a foreigner or when travelling abroad. Currency notes ensure handy cash availability when you need to spend in places that do not accept digital payments like for local transportation or small purchases.
Forex Card in Kolkata
You can also avail of the Multi-Currency Forex Travel Card with MakeMyTrip powered by BookMyForex. It enables loading multiple currencies for easy transactions across overseas destinations. It comes with low or zero forex markup over interbank rates, and makes spending readily available.
Exchange Currency with MakeMyTrip powered by BookMyForex in Kolkata
Currency exchange in Kolkata is now easily available through the online platform of MakeMyTrip powered by BookMyForex. Check out the steps to follow for an easy digital currency exchange from your home.
- STEP 01
From the drop-down menu, select Kolkata as your preferred city.
- STEP 02
Choose the required foreign currency to buy or sell.
- STEP 03
Select a suitable medium for currency exchange in Kolkata, between currency notes and forex cards.
- STEP 04
Fill in the amount to exchange and check the converted value.
- STEP 05
Also, check the live rates for currency exchange in Kolkata to confirm.
- STEP 06
Place your currency exchange order in simple steps through a secure platform.
Buying or Selling Foreign Currency at Local Money Changers in Kolkata
For currency exchange in Kolkata, the importance of choosing an Authorised Dealer Category II or a licensed money changer cannot be emphasised enough. Selecting a money changer located in a popular area also ensures easy accessibility.
Cons of Local Money Changers
Rate Negotiation
You may have to undergo extensive rate negotiations for the best currency exchange rates in Kolkata with local exchange providers. Also, the final rates are non-standardised, subject to availability, demand and the choice of currency.
Time-Consuming Process
Approaching currency exchange providers locally can be time-intensive due to required checks like manual verification, price negotiations, rate comparisons and such.
Exchange at Airports
Various forex counters and kiosks also provide currency exchange in Kolkata airport. The exchange rates remain higher than those in the city though, due to high cost of operations and minimal competition here.
Comparison with Online Forex Platforms
Through dedicated online platforms like MakeMyTrip powered by BookMyForex offering structured digital processes, currency exchange in Kolkata is simplified significantly. You can easily buy or sell foreign currency here online and view live rates conveniently. It also eliminates any manual negotiations and you can choose between currency notes and forex cards.
Different Purposes for Exchanging Currency
Studying Abroad - If one undertakes education overseas, they can get currency exchange as per the cost estimate or fee structure of the educational institution. With required documents, you can get up to USD 30,000 as currency exchange in Kolkata, according to RBI guidelines.
Employment - In case of overseas employment, purchase of foreign currency up to USD 5,000 is allowed based on a valid employment contract or letter of employment, according to RBI.
Emigration - Individuals with a valid emigration visa can get currency exchange up to USD 5,000, as permitted by RBI.
Gift and Donation - For foreign currency remittance from a resident as a self-declared gift or donation, the RBI-authorised annual remittance cap is USD 5,000.
Medical Treatment - For medical treatments abroad, individuals can get a self-certified currency exchange up to USD 50,000, as per RBI guidelines. For higher values, an estimate provided by the overseas hospital is needed.
The RBI guidelines for permitted currency exchange value may change with time. Staying updated about the latest regulations helps make a better forex decision.
Buy and Sell Foreign Currency Online at Best Exchange Rates in Kolkata
Currency exchange in Kolkata from online forex platforms turns out to be reliable for professionals and travellers alike. Some top benefits of getting currency exchange from MakeMyTrip powered by BookMyForex are listed below.
Online Convenience
You can get currency exchange services via a thorough digital process through the platform. You can place orders anytime and can schedule delivery of currency notes as per convenience.
Real-time Rates
Forex rates are visible live online during forex booking, which helps with currency fluctuation tracking. This eliminates the need to rely on estimated cost for currency exchange in Kolkata.
Transparent Pricing
You will be able to view the cost breakdown upfront, ensuring zero hidden charges and clarity on all applicable fees. This ensures better expense management.
Zero or Low Markup
Forex cards attract zero markup with low markup for selected products. This makes online currency exchange cost-effective.
Additional benefits on the online platform include exchange of 40+ currencies, option for exchange rate locking and same-day doorstep delivery in select cities with 24x7 forex booking.
Home Delivery of Foreign Currency in Kolkata
Once the currency exchange order is placed online, no personal visits are required as MakeMyTrip powered by BookMyForex provides doorstep delivery. When availing of currency exchange in Kolkata, the convenience of home delivery for exchanged currency is available at select addresses only.
Other currencies to INR Conversion
- USD to INR
- EUR to INR
- AED to INR
- THB to INR
- SGD to INR
- KWD to INR
- CHF to INR
- HKD to INR
- SAR to INR
- CAD to INR
- ZAR to INR
- AUD to INR
- JPY to INR
- GBP to INR
- NZD to INR
- MYR to INR
- VND to INR
- BHD to INR
- IDR to INR
- KRW to INR
- NOK to INR
- DKK to INR
- RUB to INR
- LKR to INR
- PHP to INR
- MUR to INR
- BDT to INR
- PLN to INR
Frequently Asked Questions (FAQs) About Forex Services in Kolkata
How do I get cashback after currency conversion in Kolkata?
Find out more about the cashback by clicking here.
Where to exchange currency in Kolkata?
You can get the facility of currency exchange in Kolkata via online platforms like MakeMyTrip powered by BookMyForex.
Can I exchange currency at Kolkata airport?
Yes, you can get currency exchange at Kolkata airport via currency exchange kiosks and counters, albeit at higher forex rates than in the city.
Which is the best place to exchange currency in Kolkata?
Online platforms like MakeMyTrip powered by BookMyForex are among the best places for currency exchange in Kolkata. Forex services are also available with local money changers and at the airport.
What is the cheapest way to exchange currency in Kolkata?
Arguably, one of the cheapest ways to go for currency exchange in Kolkata is through MakeMyTrip powered by BookMyForex, where you can get competitive forex rates and be assured of transparent pricing.
Is my data safe when I upload documents?
Yes, when you upload documents for currency exchange with MakeMyTrip powered by BookMyForex, your data remains completely safe.
How fast will I get a refund if I cancel my order?
In case you cancel your forex buy or sell order, the refund is processed and completed within 7 to 21 working days, as per applicable policies.
Can I lock today’s exchange rate and pay later?
Yes, you can lock today’s exchange rate and pay later for up to 3 days when booking currency exchange on the online portal.
What documents do I need to buy forex for a holiday?
The documents you would need to buy forex for a holiday include passport, ID and address proof, valid travel tickets and a valid visa.
Does MakeMyTrip powered by BookMyForex deliver cash to my home? How fast?
MakeMyTrip powered by BookMyForex delivers exchanged currency notes to the doorstep for selected addresses in Kolkata either on the same day or as per schedule.
How fast will I get a refund if I cancel my order?
If you cancel your order for currency exchange placed via the online forex platform, you can expect to get a refund within 7 to 21 working days as per the applicable policies.
How to exchange currency in Kolkata?
It is easy to exchange currency in Kolkata via a simple online procedure on the dedicated forex platform of MakeMyTrip powered by BookMyForex. Simply visit the forex portal, choose your city, your choice of currency, amount to exchange, and you can place your currency buy or sell order.