Sachin Walls
Currency exchange outlets are available at Indira Gandhi International Airport in New Delhi, India, but they may not offer the best rates. Currency exchange shops at airports tend to make large profits by charging higher exchange rates than other vendors. It is recommended that travellers exchange small amounts at the airport and seek out better rates in the city, especially in market areas like Connaught Place. Online platforms such as BookMyForex and MakeMyTrip are also popular alternatives, offering competitive rates and home delivery.
| Characteristics | Values |
|---|---|
| Currency exchange outlets availability | Currency exchange outlets are found in tourist, market and commercial areas. |
| Exchange rates | The exchange rate at the airport is not good. The best rate you will get at an airport is using an ATM. |
| Exchange rate difference | The difference is probably 1-2 rupees which doesn't break the bank. |
| Alternatives | BookMyForex, Forex on Wheels, MakeMyTrip, Thomas Cook |
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What You'll Learn
Currency exchange counters at Delhi Airport
Indira Gandhi International Airport in New Delhi, India, has multiple currency exchange counters in both the arrival and departure sections of Terminal 3. EbixCash is the only provider with a currency exchange counter after the immigration and security checks in the departure section. The other three companies offering currency exchange services in Terminal 3 are located before security and immigration. All four exchange counters are open 24 hours a day, and the exchange rates for buying and selling foreign currency are usually the same across all four providers.
There are several challenges to exchanging currency at Delhi Airport. The exchange rates can be much higher than those offered by other currency exchange providers, and there is no protection from currency fluctuations. The waiting queues can be long, leading to currency conversion delays. For these reasons, it is recommended to use an online currency conversion service before arriving at the airport.
Online platforms such as MakeMyTrip, powered by BookMyForex, and Forex on Wheels offer competitive exchange rates with no hidden charges. BookMyForex offers live exchange rates with no fixed daily rates, and the ability to freeze the desired exchange rate. Forex on Wheels provides good rates with no hidden charges, and honest and professional service.
If you do choose to exchange currency at Delhi Airport, you can use the airport's interactive map to locate the currency exchange counters.
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High exchange fees
Currency exchange outlets at Delhi Airport charge high fees for exchanging currency. The exchange rates at the airport are highly volatile and constantly fluctuating. Currency exchange shops at airports tend to charge high fees and offer poor exchange rates, as they cater to travellers who need foreign currency urgently.
The transaction fees at Delhi Airport typically vary from 5% to 15% above the general rates of exchange. These high fees can significantly increase the cost of exchanging currency, especially for large amounts. While the convenience of exchanging currency at the airport may be appealing, the high fees can offset any benefits.
It is recommended to explore other options for currency exchange before arriving at the airport. Online forex platforms, such as BookMyForex, offer more competitive exchange rates and lower fees. They also provide the convenience of ordering currency online and having it delivered to your doorstep. Additionally, using an ATM at the airport may offer better exchange rates than dedicated currency exchange counters.
For those who prefer in-person currency exchange, money changer shops in cities like Delhi, Agra, or Jaipur, or offices in market areas like Connaught Place, often provide better exchange rates than those offered at the airport. It is advisable to shop around and compare rates from multiple providers to ensure you get the best deal.
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Long queues
Queues for foreign currency exchange in Delhi Airport can be long, leading to frustrating delays. This is a common issue at many airports, where exchange bureaus take advantage of travellers who need currency at the last minute, offering poor rates and high fees.
Delhi Airport is the busiest airport in India, so it is no surprise that queues can be long. There are currency exchange counters in both the arrival and departure sections of Terminal 3. EbixCash is the only company with a currency exchange counter after the security and immigration check, so this may be a particularly busy area.
The exchange rates at the airport are not competitive and are often much higher than those offered by other providers. The rates can be fixed for the day and may exceed the live rates. This means travellers often lose out and are at the mercy of the exchange bureaus.
To avoid the long queues at Delhi Airport, it is recommended that travellers avail of online currency conversion before travelling to the airport. There are several online platforms offering competitive rates and home delivery of forex. These include MakeMyTrip, powered by BookMyForex, and Forex on Wheels Pvt Ltd. It is also possible to get a better rate in the city, with money changer shops offering good rates with no hidden charges.
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Online currency conversion
Currency exchange outlets at Delhi Airport offer varying exchange rates, and some may charge a commission. While there are currency exchange counters in both the arrival and departure sections of Terminal 3, travellers have reported that the exchange rates at the airport are not favourable. It is recommended that you use an ATM at the airport or exchange currency in the city, where you are likely to get a better rate. Money changer shops are available everywhere in cities like Delhi, Agra, and Jaipur, and offices in market areas like Connaught Place tend to offer better exchange rates than those in tourist areas.
If you are looking for online currency conversion, there are several platforms that can help you with that. OANDA, for example, offers a currency converter with data from over 31 years of historical data for over 38,000 forex pairs and rates from over 200 currencies, commodities, and precious metals. They have 212 currencies available on their new currency converter. Xe is another platform that offers live exchange rates and allows you to send money to 190 countries across 130 currencies. They provide flexible transfer options and rate alerts, and you can also analyse rate trends.
It's important to note that currency conversion rates differ between companies as each company manipulates the interbank rate to make a profit. The interbank rate is the exchange rate used by banks and large institutions when trading large volumes of foreign currency, and it is not meant for individuals or smaller businesses, as smaller money transfers tend to attract higher mark-ups. Therefore, it's a good idea to shop around and compare rates from different providers before choosing an online currency conversion service.
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EbixCash currency exchange counter
EbixCash is one of the leading financial exchanges in India. It offers a Phygital strategy, combining physical distribution outlets with an Omni-channel online digital platform.
EbixCash has a presence at 18 international airports across India, including Delhi, Mumbai, Chennai, and Kolkata. At Delhi's Indira Gandhi International Airport, EbixCash operates a currency exchange counter in the departure section of Terminal 3. This counter is unique as it is the only currency exchange option available after the security and immigration checks.
EbixCash offers currency exchange services for over 80 different currencies. Individuals travelling abroad from India are permitted to carry up to USD 3000 or its equivalent in foreign currency cash. Any additional amount can be loaded onto a Forex Card, which functions as an international travel card. EbixCash also provides services like wire transfers, demand drafts, and international bank transfers.
While EbixCash is a convenient option at Delhi Airport, it is worth noting that currency exchange outlets outside the airport, particularly in market areas, may offer better exchange rates. These outlets are approved by the Government of India or the Reserve Bank of India and will display an "Authorized Foreign Currency Exchange" sign.
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Frequently asked questions
No, currency exchange shops at airports make big profits by charging high exchange rates. It is recommended to exchange currency at some other place.
You can get currency at the bank, purchase it through an offline forex broker or travel agent, or order it online through reputed platforms like BookMyForex.
The difference in rates is probably 1-2 rupees, but it is still recommended to exchange currency at some other place.
Yes, some good online portals to exchange money in Delhi include BookMyForex, MakeMyTrip, and Forex on Wheels.
Offices in market areas like Connaught Place tend to offer better exchange rates than those in tourist areas.
