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Tools  ·  Tool 03

Remittance value
after exchange margin

Money into India or out of it. Today's mid-market rate, and what the margin on the rate you have been quoted actually costs on the transfer. This tool sells nothing and recommends nobody — it is arithmetic on your own numbers.

Which way is the money going?

The sum is the same either way round; what changes is which side you are counting in.

What are you sending?

The rate below is the mid-market rate — the one banks quote each other. It is not what you will be given.

And what rate were you quoted?

Optional. Put in the rate your bank or app is offering and this will show you what the difference between the two comes to on this transfer — counted in whichever currency you end up holding.

    Choosing between NRE, NRO and FCNR(B)

    Today's rates could not be fetched. They come from an outside service, so this happens if you are offline or it is having a bad day. Everything else on the site works as usual — try again later.

    Where this comes from. The rates are the daily mid-market reference rates of the European Central Bank and 97 other central banks and official sources — among them Financial Benchmarks India, whose reference rate the Reserve Bank of India publishes — cross-rated against the rupee by Frankfurter. They are published once a day and are not dealing rates: a bank, a money-transfer service or a card network adds its own margin, and usually a fee on top, so the money that arrives is always less. This tool is arithmetic on the figures you enter, for general information only; it is not investment, tax or legal advice, and it does not recommend any provider.

    It answers one question — what the rate is worth — and nothing about whether a transfer is allowed. Money going the other way has rules of its own: repatriation from an NRO account runs up to USD 1 million a financial year — how much of it is left — with Forms 15CA and 15CB, while the Liberalised Remittance Scheme and its USD 250,000 limit is a scheme for residents, not for a person resident outside India.

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    Sending money home regularly?

    A standing instruction, a property payment, a pension — the account it lands in matters more than the rate.

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