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Kolkata Airport does facilitate currency exchange, with several forex counters available in the arrivals and departures area. However, it is recommended that travellers avoid exchanging currency at the airport, as the conversion rates are much higher than other forex providers. For instance, BookMyForex and MakeMyTrip offer forex at live rates, while Orient Exchange claims to offer the best rate for currency exchange in Kolkata. Thomas Cook is another option, promising to monitor rates and offer currency exchange solely as per current rates.
| Characteristics | Values |
|---|---|
| Currency exchange available | Yes |
| Recommended | No |
| Reasons not to use | High rates, long queues, rate fluctuation |
| Alternative options | Banks, RBI-authorised forex dealers, online platforms, hotels, ATMs |
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What You'll Learn
- Kolkata airport currency exchange services are 5-15% higher than online alternatives
- Long queues at currency exchange counters can cause delays
- Kolkata airport does not offer a lock-in period facility, so you may not be safeguarded against rate fluctuations
- Online currency exchange platforms like BookMyForex, MakeMyTrip, and Wise offer better rates and convenience
- Banks, offline forex brokers, travel agents, and post offices are other options for exchanging money in Kolkata
Kolkata airport currency exchange services are 5-15% higher than online alternatives
Kolkata Airport offers currency exchange services, but they come with a few drawbacks. The exchange rates at the airport are significantly higher than online alternatives, ranging from 5% to 15% more expensive. This is because the airport knows that travellers often need to exchange currency urgently. As a result, exchanging currency at the airport can be costly and may not be the best option if you're looking for favourable rates.
Online currency exchange platforms, such as BookMyForex and MakeMyTrip, offer a more cost-effective solution. These platforms provide live and transparent rates, ensuring that you get the best market rates for your foreign exchange. Additionally, they offer hassle-free services, allowing you to book your forex order online and receive same-day door delivery, saving you time and money.
Another advantage of using online platforms is avoiding the long queues and lengthy order processes associated with airport currency exchange counters. With online alternatives, you can compare rates, freeze the currency rate if you anticipate a rise, and even get a forex card to swipe for purchases during your trip.
While Kolkata Airport provides currency exchange services, it's important to be aware of the higher rates charged. By opting for online alternatives, you can benefit from better exchange rates, convenience, and a more streamlined experience. This will ultimately help you get the most out of your trip and save money on currency exchange.
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Long queues at currency exchange counters can cause delays
Currency exchange counters at Kolkata Airport usually have long queues, which can cause delays. This is a common issue at many airports, and it is recommended that travellers avoid exchanging currency at the last minute.
There are several reasons why long queues form at currency exchange counters. Firstly, the number of counters available may be limited, resulting in a bottleneck during peak hours or when there is a high volume of travellers. Additionally, the process of exchanging currency can be time-consuming, especially if the traveller has a large amount of currency to exchange or requires assistance with the transaction.
The consequences of long queues at currency exchange counters can result in delays for travellers, causing them to miss their flights or arrive late for connecting flights. This can lead to a frustrating and stressful experience, especially if there are additional security or immigration checks that further prolong the process.
To avoid long queues and potential delays, it is advisable for travellers to explore alternative options for exchanging currency. Online currency exchange platforms, such as BookMyForex, MakeMyTrip, Wise, and Orient Exchange, offer convenient and cost-effective solutions. These platforms often provide competitive exchange rates and allow travellers to purchase foreign currency in advance, eliminating the need to queue at airport counters.
Furthermore, travellers can also consider exchanging currency at physical locations in Kolkata, such as banks, post offices, travel agencies, currency exchange bureaus, or RBI-authorized dealers. By planning ahead and utilising these alternative options, travellers can save time, obtain favourable exchange rates, and avoid the inconvenience of lengthy queues at the airport.
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Kolkata airport does not offer a lock-in period facility, so you may not be safeguarded against rate fluctuations
Currency exchange counters at Kolkata Airport do not offer a lock-in period facility. A lock-in period is a predetermined time frame during which investors are restricted from selling or redeeming shares of a particular investment. This is often used to protect other investors, preserve market integrity, and maintain liquidity. In the context of currency exchange, a lock-in period could refer to a guaranteed exchange rate within a specified period.
Without a lock-in period facility, you may not be protected against rate fluctuations when exchanging currency at Kolkata Airport. This means that the exchange rate you receive may differ from the rate advertised or expected, and you may end up paying more or receiving less than anticipated.
Additionally, currency exchange counters at airports are known for charging high rates and fees due to the convenience and urgency of exchanging currency while travelling. These high rates can result in significant losses for travellers who are not aware of the potential rate fluctuations and additional fees.
To avoid these issues, it is advisable to compare exchange rates and fees before choosing a currency exchange service. There are alternative options available, such as online forex platforms or exchanging currency at banks or authorised forex dealers, which may offer more competitive rates and lower fees. These alternatives can help you save money and provide a more favourable exchange rate compared to airport currency exchange services.
Furthermore, using online forex platforms or authorised forex dealers can offer additional benefits, such as the ability to freeze or lock-in exchange rates. This feature allows you to take advantage of favourable rates and protect yourself against sudden fluctuations. By utilising these alternatives, you can exchange currency at your convenience and potentially achieve better value for your money.
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Online currency exchange platforms like BookMyForex, MakeMyTrip, and Wise offer better rates and convenience
Currency exchange at the Kolkata airport is convenient, especially for travellers flying out of Kolkata or those with a connecting flight from the airport. However, currency exchange counters at the airport are known for their high rates. They charge 5%-15% more than other forex providers, and the exchange rates are usually higher than the live rates. This is because they know travellers need the currency urgently.
MakeMyTrip, which is powered by BookMyForex, offers unbeatable currency exchange rates and a fully digital online process that takes less than 5 minutes. You can buy forex cards and currency notes or sell them on the platform. They also offer cashback and a forex converter calculator.
Wise is another digital alternative to exchanging cash in Kolkata. It is a fuss-free option that saves you the hassle of visiting a physical location.
These online platforms offer greater convenience and better rates than airport currency exchange services, allowing you to save both time and money.
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Banks, offline forex brokers, travel agents, and post offices are other options for exchanging money in Kolkata
Banks
Banks are a reliable option for exchanging money in Kolkata. Some banks may offer better exchange rates than others, so it is advisable to compare rates before choosing a bank. Additionally, some banks may have partnerships with Indian banks, which can help you avoid extra ATM fees when withdrawing cash in Kolkata.
Offline Forex Brokers
Offline forex brokers, such as Orient Exchange and BookMyForex, are specialized companies that deal exclusively in foreign exchange. They often provide competitive rates and may offer additional services such as forex cards, which can be convenient for travellers.
Travel Agents
Travel agents in Kolkata may also provide foreign exchange services. They can be a good option, especially if you are booking your travel with them. However, it is always a good idea to compare their exchange rates with other available options.
Post Offices
Post offices in India often provide foreign exchange services. They can be a convenient option for exchanging money, especially if you are already using their other services.
When exchanging money in Kolkata, it is important to be aware of the prevailing exchange rates and any associated fees to ensure you get the best value for your money.
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Frequently asked questions
Yes, there are several forex counters available for currency exchange at Kolkata Airport. However, the rates are usually higher than the live rates. It is recommended to exchange your currency in advance to save money.
There are plenty of options for exchanging money in Kolkata. Some good alternatives include:
- BookMyForex
- MakeMyTrip
- Banks
- RBI-authorized forex dealers
- Orient Exchange
- Thomas Cook
- Local currency exchange stores
It is important to be informed to avoid excessive charges and get the best deals. Here are some key things to keep in mind:
- Beware of 'zero fee' services as they often offer poor exchange rates.
- Check the exchange rate beforehand to identify a bad deal.
- Use ATMs strategically by informing your bank before travelling.
