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Currency Exchange in Mumbai
Best Foreign Currency Exchange in Kolkata
Various providers of currency exchange in Mumbai are available across its different locations to support adequate availability of foreign currency in the city. From posh localities to top markets and commercial complexes, you can find reputed currency exchange providers in ample areas across the city.
Although, in-person foreign currency exchange in Mumbai can be a tedious process needing rate comparisons and price negotiations. Digital forex platforms like MakeMyTrip powered by BookMyForex do away with these hurdles and eliminate the need for in-person visits with complete online processes for currency exchange in Mumbai. You can also be assured of rate transparency and exchange of foreign currency with live rate tracking here.
How to Identify Genuine Foreign Currency Notes in Mumbai
Here are some top identifiable features to check out when going for foreign currency exchange in Mumbai.
Common Security Features
Watermark: Authentic currency notes carry defined watermarks visible against light, which can be in the form of texts, portraits or numbers.
Microprinting: Look for microprinting of fine texts or numbers to identify genuine notes. These may be sharp when observed closely. Such microprinting may be absent or be unclear on fake notes.
Raised printing: The printings on authentic notes in texts, portraits or numbers can be in raised ink, and carry a rough texture. Such prints are mostly flat on counterfeit notes.
Security thread: Look for fine security threads embedded within the thin papers of authentic notes, inserted with numbers or texts in them. Such threads may be visible against light.
Print Clarity and Texture: Authentic currency notes’ printing is usually of high quality, with crispness, defined colours, observable texture. Such clarity may be missing on fake notes.
Major Areas and Markets in Mumbai to Buy Foreign Currency
You can find various facilities related to currency exchange in Mumbai across many popular areas, localities and markets.
Kharghar: Kharghar is a well-developed locality in Navi Mumbai with growing commercial infrastructure and access to authorised forex providers.
Vile Parle East: Visit this small suburb to the west of Juhu Beach, which is easy to reach for currency exchange in Mumbai.
Borivali East: In Borivali East, a North Mumbai suburb known for its heavy population, you can easily spot forex providers across various lanes.
Mira Road: Mira Road is a fast-growing suburb within the Mumbai Metropolitan Region with easy access to banks and forex services.
Vashi: You can also easily find currency exchange providers in Vashi, a bustling neighbourhood of Navi Mumbai.
Currency exchange in Mumbai is also available at -
Andheri East
Lower Parel
Crawford Market Area
Bandra West
Goregaon East
What are the Most Famous Places in Mumbai?
Various famous landmarks to know about beyond currency exchange in Mumbai include -
Chowpatty Beach
Gateway of India
Essel World
Haji Ali Mosque
Juhu Beach
Other popular city landmarks are -
Fashion Street
Colaba Causeway
Worli Sea Link
Towns and Cities Near Mumbai
Lonavala: Lonavala is a popular hill station about 90 km from Mumbai known for its winding roads and endless greenery.
Matheran: The magical beauty of Matheran is accessible at about 90 km from Mumbai for capturing the stunning viewpoints and a panoramic horizon.
Karjat: Karjat is a little over 60 km away from Mumbai and is a hotspot for adventurous activities.
Alibaug: Alibaug is another nearby destination from Mumbai which you can visit for its sparkling beaches and untouched natural beauty.
Karnala: Karnala is known as a fort city and is about 55 km from Mumbai, surrounded by mountains and forests on all sides.
Here are some other cities and towns located near Mumbai -
Palghar
Shahapur
Manor
Khopoli
Pune
Nearest Airports to Mumbai
The Chhatrapati Shivaji Maharaj International Airport is the closest airport serving major air traffic to and from Mumbai city. It serves as a major international gateway for India, connecting it to prime overseas destinations across the globe.
Why You Should Avoid Currency Exchange at Chhatrapati Shivaji Maharaj International Airport
Due to the presence of a number of inconveniences, you may want to avoid going for currency exchange at Mumbai Airport.
Currency exchange at airports hardly carries any transparency in pricing and forex rate determination.
Airport forex services also attract about 10 to 15% higher rates than with online platforms such as MakeMyTrip powered by BookMyForex. The high operating costs of forex kiosks and counters here likely contribute to these high rates.
During peak hours, long queues for currency exchange at airports also make the service inconvenient and time-consuming.
Also, since there is hardly any competition for currency exchange at airports, finding the best forex rates becomes difficult.
In comparison, you can get easily accessible currency exchange in Mumbai with fast processing through MakeMyTrip powered by BookMyForex along with forex rate transparency and competitive pricing for the best exchange rates.
Best Way to Carry Foreign Currency in Mumbai
The smartest way to travel is to keep both convenience and safety in mind.
Currency Notes in Mumbai
When travelling abroad, it is ideal to keep some cash handy. You can thus choose currency exchange in Mumbai in the form of currency notes to ensure sufficient liquidity. Doing so via online platforms like MakeMyTrip powered by BookMyForex allows you to meet your disposable cash needs at the best currency exchange rates in Mumbai. Available currency notes should help make overseas transactions easy where you cannot pay online, such as small purchases or local transportation.
Forex Card in Mumbai
If you need to spend regularly in overseas destinations, a Multi-Currency Forex Travel Card available on MakeMyTrip powered by BookMyForex serves suitably with its ability to load multiple currencies at once. These forex cards also attract forex markup at zero percent against interbank rates.
Exchange Currency with MakeMyTrip powered by BookMyForex in Mumbai
With MakeMyTrip powered by BookMyForex, you can complete new or old currency exchange in Mumbai online through an efficient and structured process.
- STEP 01
Click on the drop-down menu and choose Mumbai as your city.
- STEP 02
Pick the foreign currency of your choice to purchase or sell digitally.
- STEP 03
Pick your exchange medium between forex card and currency note.
- STEP 04
Enter the amount you need to exchange and assess the converted value with applicable costs.
- STEP 05
View on-screen the live forex rates and run a price check to decide thoughtfully.
- STEP 06
Complete your forex review and successfully place your forex buy/sell order.
Buying or Selling Foreign Currency at Local Money Changers in Mumbai
When buying or selling foreign currency with local money changers in Mumbai, you must check whether they are licensed or Authorised Dealer Category II forex providers located in commercial localities for effortless over-the-counter currency exchange in Mumbai.
Cons of Local Money Changers
Rate Negotiation
Nevertheless, with local money changers, rate negotiation remains a hassle and is affected by the forex demand, choice of currency and its availability.
Time-Consuming Process
Also, currency exchange in Mumbai with local money changers can be extremely time-intensive as you would need to compare the rates from one to another, go for manual checks to ensure transparency and even negotiate for the rates.
High Costs at the Airport
With currency exchange in Mumbai airport, you may also have to incur high costs due to the increased forex rates at the forex kiosks and counters here.
Comparison with Online Forex Platforms
Choosing an online platform for currency exchange in Mumbai such as MakeMyTrip powered by BookMyForex comes with various benefits over local money changers. For one, you do not need to make in-person visits for the exchange. You can also be assured of rate transparency and competitiveness and the choice between currency notes and forex cards remains open.
Different Purposes for Exchanging Currency
Overseas Education - If undertaking education overseas, currency exchange of up to USD 30,000 is allowed with required cost estimate or fee structure from the overseas college/university.
Employment - You would be allowed to buy foreign currency up to USD 5,000 with an employment letter or contract letter for overseas employment.
Emigration - The forex purchase limit of up to USD 5,000 is allowed in case of valid emigration visa holders.
Gift and Donation - A self-certified annual limit of USD 5,000 is allowed in case a resident wants to remit foreign currency as donation or gift.
Medical Treatment - For medical treatment overseas, you can purchase foreign currency up to USD 50,000 under self certification. If the treatment involves a higher cost, the overseas hospital’s cost estimate is required.
Buy and Sell Foreign Currency Online at Best Exchange Rates in Mumbai
Currency exchange in Mumbai through reliable online platforms like MakeMyTrip powered by BookMyForex involve simplified processes and are increasingly preferred by travellers and professionals. Check out some top benefits of exchanging currency on these online forex platforms.
Online Convenience
The Currency exchange in Mumbai involves a completely online procedure, requiring no personal visits and anytime forex order placement facility, with review and scheduling.
Real-time Rates
The online platform also reflects real-time movement of live rates, providing clarity of forex rates levied and eliminating any pricing uncertainty or estimation, thus making them reliable.
Transparent Pricing
The cost payable for online currency exchange in Mumbai on the platform is also visible upfront with no hidden charges or fees, thus helping manage the forex expenses efficiently.
Zero or Low Markup
Forex products available on the online platform attract low to no markup against interbank rates, resulting in cost-effective currency exchange. Like, for forex cards, the markup is pegged at 0% over interbank rates.
Currency exchange on the online platform also comes with additional benefits like exchange of more than 40 foreign currencies, easy, same-day doorstep forex delivery across various cities, preferred exchange rate lock-in, 24x7 forex booking online and customer support assistance, among others.
Home Delivery of Foreign Currency in Mumbai
MakeMyTrip provides the facility of home delivery for the booked currency exchange in Mumbai, which assures you do not need to undertake the hassle of stepping out for the service. As home delivery of forex products is available at select addresses in Mumbai, you must confirm your address before order placement.
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 Mumbai
How do I get cashback after currency conversion in Mumbai?
Find out more about the cashback by clicking here.
Where to exchange currency in Mumbai?
You can choose various forex marketplaces for currency exchange in Mumbai, such as reliable online currency exchange providers or local forex dealers in various localities of the city.
Can I exchange currency at Mumbai airport?
Yes, the facility to avail of currency exchange in Mumbai airport is available through dedicated forex counters and kiosks. These exchanges are usually costlier than in the city though.
Which is the best place to exchange currency in Mumbai?
Online forex marketplaces such as MakeMyTrip powered by BookMyForex serve as the best place for currency exchange in Mumbai with their utmost exchange transparency and pricing clarity.
How to exchange currency in Mumbai?
You simply need to choose Mumbai as your city, pick a foreign currency for exchange, check exchange rates and place your buy or sell order for currency exchange in Mumbai on reputed online forex platforms like MakeMyTrip powered by BookMyForex.
What is the cheapest way to exchange currency in Mumbai?
You can opt for one of the cheapest currency exchanges in Mumbai through MakeMyTrip powered by BookMyForex, a reputed online forex marketplace offering currency exchange in Mumbai at competitive rates with price transparency, zero hidden fees and zero forex markup.
What is the rule for currency exchange?
The rules for currency exchange in Mumbai or anywhere in India are laid down as per RBI regulations and guidelines, which specify limits for currency exchange based on the purpose of exchange and document availability.
What is the maximum currency exchange limit?
The maximum currency exchange limit varies as per the purpose of currency exchange and document verification during processing.
Can I lock today’s exchange rate and pay later?
Yes, you can lock in today’s forex rate and pay as per this rate for up to 3 days with currency exchange in Mumbai booked online.
What is the best way to exchange large amounts of currency?
The best way to exchange large amounts of currency is through a forex card which comes with zero forex markup and allows loading multiple currencies at once with flexibility of use.
How fast will I get a refund if I cancel my order?
In case you cancel your forex order placed online, you can expect to receive your refund within 7 to 21 working days as per the applicable policies.