Approximately 50 countries form the European Union. All European countries draws innumerable travellers and immigrants every year. The number of travellers and immigrants could increase in the coming time. If you get an opportunity to travel or immigrate to Europe, you should make the most of it. Europe promises a life-changing experience for all. If you are a non-resident Indian living in Europe and planning to visit India, you should get your currency converted.
You should convert your EURO to INR to handle the expenses in India. There are several ways to get your currency converted in India:
International airport currency exchange kiosks
Currency exchange kiosks are present at all airports. Before boarding your flight to India, you can visit such a kiosk to exchange your currency. You should note the applicable currency exchange rate for conversion. The currency exchange rates change often. It also varies depending on your place of exchange. Generally, international airport kiosks charge a higher exchange rate. However, they are a simple and secure way to currency conversion in India.
Access NRI Accounts
Accessing your NRI Account is another way to get the currency exchanged. There are two types of NRI Accounts: Non-Resident Ordinary and Non-Resident External Accounts. You can park your money in either of the two accounts and earn a competitive interest rate. Both are maintained in INR. This means you can use your account Debit Card to withdraw Indian Rupees and utilise it on your visit to India.
ATM withdrawal
You can also withdraw Indian Rupees from your foreign residence account. You only need to swipe your International Debit Card at a global ATM to make a withdrawal. However, note the bank levies charges for such international withdrawals, which are typically high. They may also convert your currency, considering a higher interest rate. You should remember these things when choosing a suitable way to convert I EURO to Indian Rupees.
RBI-approved banks and money changers
RBI has approved a list of banks and money changes for currency conversion in India. You can reach out to them. These banks and money changers charge a reasonable fee for conversion. You may require a Bank Account for currency conversion with banks. This requirement is not essential for money changers.
Online forex services
There are several third-party online forex services you can opt for to make money transfer to India and for currency conversion. Note that there are fake forex services listed online too. Hence, always indulge in secure transactions. You should not fall into the trap of fake online services in an attempt to save money.
