Sachin Walls
Delhi Airport, named after Indira Gandhi, is the busiest airport in India. Currency exchange shops at airports tend to offer unfavourable exchange rates, which can be up to 15% higher than online platforms like BookMyForex. The Reserve Bank of India allows travellers to exchange currency 60 days before their trip, so it is advisable to exchange your currency in advance to save time and money. However, if you need to exchange money at Delhi Airport, you can use the airport's interactive map to locate the currency exchange counters.
| Characteristics | Values |
|---|---|
| Exchange rate | Not good compared to other places outside the airport |
| Exchange rate difference within the airport | Not much difference |
| Best rate at the airport | Using an ATM |
| Exchange rate outside the airport | Better |
| Forex cards | Available |
| Currency exchange queues | Long |
| Online currency conversion | Available |
| Currency exchange shops | Available |
| Currency exchange rate | Fixed for the day |
| Currency exchange rate compared to live rates | Higher |
| Currency exchange rate compared to BookMyForex | 5 to 15% higher |
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What You'll Learn
Exchange rates at Delhi Airport are unfavourable
Currency exchange shops at Delhi Airport make large profits by charging unfavourable exchange rates. These shops take advantage of travellers who need currency at the last minute, offering very high exchange rates. As a result, travellers often lose a lot of money.
It is recommended that travellers exchange their currency in advance, as the RBI allows currency to be exchanged 60 days before a trip. There are many ways to buy foreign currency in India, including at banks, through offline forex brokers or travel agents, and at money changers in cities like Delhi, Agra, and Jaipur. These options tend to offer better rates than those at the airport.
Online forex platforms, such as BookMyForex, also offer more favourable exchange rates and convenient services, allowing users to book an order online and receive same-day doorstep delivery of various currencies in multiple cities. Another benefit of using online platforms is the ability to freeze the desired exchange rate in advance.
ATMs at the airport tend to offer better rates than currency exchange counters, but they may charge high fees. Therefore, travellers should be cautious and explore all options before exchanging large amounts of money at Delhi Airport.
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High markups on forex products
Delhi Airport, named after Indira Gandhi, is the busiest airport in India. It is common for people to exchange currency at the airport, especially those who are flying abroad and need currency on the run. However, forex products at Delhi Airport attract high markups, which can lead to a high rate of money exchange.
The exchange rates at the airport are typically 5 to 15% higher than those offered by online platforms like BookMyForex, Forex on Wheels, and MakeMyTrip. This is because airport-based currency exchange shops have various fixed costs, such as salaries and other operating costs, that lead to higher exchange rates and bigger profits.
In addition to higher rates, exchanging forex at Delhi Airport comes with other challenges. For instance, there is no lock-in period facility for the currency exchange rate, leaving travellers unprotected from currency fluctuations. The waiting queues can also be long, leading to currency conversion delays.
To avoid these issues and get better exchange rates, travellers are advised to explore other options. They can exchange currency at banks, post offices, travel agencies, currency exchange bureaus, or through online platforms. In Delhi, areas like Connaught Place, Dwarka, Tilak Nagar, Green Park, and Paharganj offer several spots for currency exchange. It is recommended to compare rates before deciding where to exchange currency.
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Long queues and delays
While exchanging currency at Delhi Airport is a convenient option for travellers, it often comes with the drawback of long queues and delays. The currency exchange counters at the airport tend to be busy, with travellers rushing to exchange money at the last minute. This can result in significant waiting times, causing frustration and inconvenience.
The issue of long queues is further exacerbated by the limited number of currency exchange counters available at the airport. With many travellers opting for last-minute currency exchange, the demand often exceeds the capacity of the available counters, leading to extended waiting periods. Additionally, the process of exchanging currency at the airport can be time-consuming, as travellers may need to navigate through multiple steps, including filling out forms, presenting documentation, and waiting for the transaction to be processed.
The queues at Delhi Airport's currency exchange counters can be particularly lengthy during peak travel times, such as holidays, long weekends, and festive seasons. During these periods, the airport experiences a higher volume of travellers, resulting in increased demand for currency exchange services. As a result, the waiting times can be even longer, causing further delays for travellers who need to exchange money.
To avoid the long queues and delays associated with currency exchange at Delhi Airport, travellers are often advised to explore alternative options. Online currency exchange platforms, such as BookMyForex and MakeMyTrip, offer convenient and hassle-free services. By utilising these platforms, travellers can book their currency exchange transactions in advance, eliminating the need to wait in long queues at the airport. These online platforms also provide competitive exchange rates, helping travellers avoid the high fees and unfavourable rates commonly associated with airport currency exchange counters.
In addition to online platforms, travellers can also consider exchanging currency at authorised money changers located outside the airport. Offices in market areas like Connaught Place often offer better exchange rates than those in tourist areas. By opting for these alternatives, travellers can not only avoid the crowds and delays at the airport but also benefit from more favourable exchange rates and a more efficient currency exchange experience.
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Online currency conversion is a better option
Currency exchange shops at airports, including Delhi Airport, make large profits by charging unfavourable exchange rates. They take advantage of travellers who need currency at the last minute and offer very high exchange rates, causing travellers to lose a lot of money. For this reason, it is recommended to exchange your currency in advance.
In addition to dedicated online forex platforms, there are several other options for online currency conversion. You can use a currency converter app, such as Xe, Currency Converter Plus, Currency, Easy Currency Converter, or Calista. These apps offer features such as real-time exchange rates, offline modes, and conversion between multiple currencies. Alternatively, you can use a website such as OANDA, which provides a currency calculator tool, historical FX data, and a cloud-based converter.
Online currency conversion allows you to compare exchange rates and choose the best option, helping you get the most out of your money. By exchanging currency online, you can avoid the high fees and unfavourable rates often associated with airport currency exchange shops.
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Exchange a small amount at the airport
If you only need a small amount of money for when you land in Delhi, it may be worth exchanging a small amount at the airport. However, it is important to note that currency exchange shops at airports often offer poor exchange rates and high fees, so it is not usually recommended.
One source recommends exchanging around 50 pounds or so at the airport, just to cover your expenses for a day or two. Then, you can look for a better exchange rate elsewhere. Western Union outlets, for example, are said to offer a good rate and a hassle-free exchange process. You can also use an ATM at the airport to get a better rate.
If you are exchanging a larger amount, it is best to compare rates in advance and opt for a dedicated currency exchange platform or a bank. These options typically offer better rates and lower fees than airport exchange services.
In addition, exchanging currency online before your trip is another convenient option. Services like BookMyForex and MakeMyTrip allow you to book an order online and get same-day home delivery of various currencies. This way, you can avoid the long queues and poor exchange rates often associated with airport currency exchange.
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Frequently asked questions
No, currency exchange booths at airports tend to offer poor exchange rates and high fees, which can result in travellers losing a lot of money. It is recommended to exchange your currency in advance.
You can use an online forex platform like BookMyForex, MakeMyTrip or Forex on Wheels, which offer better exchange rates and same-day home delivery. You can also use an ATM at the airport or exchange a small amount of money at the airport for immediate expenses and then look for better rates in the city.
There is no information on a specific exchange limit at Delhi Airport. However, be aware that the exchange rates at the airport are usually unfavourable, so it is not advisable to exchange large amounts.
You can use the Airport's interactive map to locate the currency exchange counters.
