Money exchange at Delhi airport, financial crisis in India?
I am planning to go to India in February 2017.
How much money can I exchange at the airport as per current regulations?
Will I have any trouble in getting hold of Indian currency at the airport?
What alternatives do I have for exchanging money while in India?
Note: India had scrapped old currency notes of 500 and 1000 rupees in November, 2016 and introduced new currency notes of 500 and 2000 denomination. However there are reports that adequate newer currency is not available and Indian central bank is modifying currency rules very frequently.
Best Answer
I am planning to go to India in February 2017.
Note: Due to so many regulatory changes happening since Demonetisation of old 500 and 1000 Rupee notes, you might have to research again for any new announcements made by the RBI, the day/week prior to your travel.
How much money can I exchange at the airport as per current regulations?
As per this circular made by the RBI, the limit for exchange of foreign currency into Indian currency is INR 5000 per week at any currency exchange center be it at the airport or in cities, provided, you submit a self-declaration that you haven't made any exchanges in that week.
Will I have any trouble in getting hold of Indian currency at the airport?
Not if you oblige by the rules mentioned by the CBEC, India and exchange restrictions imposed by the RBI (mentioned above).
What alternatives do I have for exchanging money while in India?
You can use ATMs, as the withdrawal limit has been increased up to INR 10000 as per revised rules resulting in smaller queues. Also since merchants and hotels have adapted to new conditions, you can use online payment wallets like PayTM, FreeCharge, MobiKwik to pay them. Also for travelling you can use UBER and OLA, which let you make payments using your cards and online payment wallets.
Pictures about "Money exchange at Delhi airport, financial crisis in India?"
How much money can I exchange at Delhi airport?
There is no limit to the foreign currency that you can bring with you but the amounts exceeding US Dollar 5,000 (or equivalent) in cash or US Dollar 10,000 (or equivalent) in traveler's cheques must be declared.Is Delhi airport owned by the government?
Operated by Delhi International Airport Limited, which is owned by GMR Infrastructure (64%), Airports Authority of India (26%) and Fraport (10%), the airport hosts domestic, regional and international passenger and cargo services from over 40 airlines.Does Delhi airport accept dollars?
Re: What currency in airport international departure area? Duty free prefers dollars. But if you insist, they will accept Indian Rupees. At all the other shops Indian rupee works.GUJRATI COUPLE CAUGHT AT MUMBAI AIRPORT FOR CURRENCIES SMUGGLING FROM LONDON UK........
Sources: Stack Exchange - This article follows the attribution requirements of Stack Exchange and is licensed under CC BY-SA 3.0.
Images: Pixabay, Sohel Patel, Karolina Grabowska, Karolina Grabowska