Carrying the wrong type of money abroad can cost you 3-8% in hidden fees. Here's how to save thousands on forex when traveling internationally from India.
Money Options Compared
Our Recommendation: 70/20/10 Split
- 70% on Forex Card: Best rates, safe, reloadable, works everywhere Visa/Mastercard is accepted
- 20% in Cash: For markets, small vendors, tipping, and places that don't accept cards
- 10% backup on Credit Card: For emergencies only. Choose a card with zero foreign currency markup (HDFC Infinia, SBI Elite)
Best Forex Cards in India
- Niyo Global: Zero forex markup, real-time exchange rates, free card
- BookMyForex Card: Great rates, easy reload via app
- HDFC ForexPlus: Reliable, accepted everywhere, reload at branches
- ICICI Sapphiro Forex: Good for frequent travelers, loyalty benefits
- Axis Bank Forex Card: Multi-currency, good rates
RBI Limits You Should Know
- Annual limit: $250,000 (approx Rs. 2.1 crore) per person per financial year under LRS
- Cash carry limit: Up to $3,000 in foreign currency cash. Beyond that, declare to customs.
- Forex card limit: Up to $250,000 per year
- Minor's limit: Same as adults under LRS
Money-Saving Tips
- NEVER exchange at the airport: 5-8% markup = worst rates in the country
- Order forex 3-5 days before travel: Online forex dealers give better rates than walk-in
- Always choose local currency: When a card machine asks "INR or local currency?" — ALWAYS choose local
- Use UPI abroad: Works in Singapore, UAE, Bhutan, Nepal, and expanding
- Track exchange rates: Use XE Currency app to monitor and buy when rates are favorable