Best Currency to Take to the USA for Indian Travellers and How to Buy It

Wondering what currency to take to the USA? The answer is simple- US Dollars (USD). Learn when, where, and how to buy USD in India for maximum savings in this blog.

Also Read: How to Carry Currency Safely When Travelling Abroad

Best Currency to Take to the USA – US Dollars

The US Dollar (USD) serves as the official currency of the United States and is the best currency to carry from India for your visit. 

Having the US Dollar allows you to travel throughout the country without the inconvenience of searching for a foreign exchange counter.

Is It Better to Buy US Dollars in India or the USA?

It is advisable to convert your money into US Dollars before travelling to the USA, while you are still in India. 

You can easily purchase USD from numerous foreign exchange vendors in India, as it is a currency in high demand. This enables you to purchase US Dollars at the best exchange rate. Also, exchanging currency at tourist areas in the USA can be costly.

How to Buy US Dollars in India

Here are the best places to get USA currency (USD) in India, safe and quick:

Option 1: Airport Exchange Counters

Indian and American airports feature kiosks run by prominent forex vendors. However, the drawback is that these vendors impose high exchange rates and fees due to the substantial rent costs at the airports. Because travellers frequently find themselves hurrying at the last minute for currency, these vendors take advantage of it.

Option 2: Banks

A majority of Indian banks offer currency exchange services, including for US Dollars. Although banks are dependable sources, they typically have higher rates and longer processing times, as foreign exchange is not their main service focus.

Option 3: Currency Exchange Stores

You can find currency exchange shops in every city that sell USD, with many located near you. They frequently provide excellent exchange rates. However, be careful when picking a store, as some may be scams and provide counterfeit currency notes. So, always opt for RBI-authorised currency exchange outlets.

Option 4: Online Forex Aggregators 

These digital platforms operate as a forex marketplace, enabling you to discover various service providers in your vicinity. ExTravelMoney is notable as one of the few online forex aggregators available in India, with a presence throughout the nation. At extravelmoney.com, you can compare the USD rates offered by banks and RBI-authorised currency exchange outlets online. All done from the comfort of your home, and have the currency delivered right to your door, saving you both time and money.

Pro Tip: Keep an eye on the mid-market exchange rate, which is the value displayed on Google. This rate indicates the average between the purchase and sale prices of two currencies at a specific moment. Knowing this rate will assist you in assessing whether the markup (the additional fee imposed by service providers) is justifiable.

Check Today’s Interbank Rates

Best Way to Buy USA Currency (USD) Online

Buy US Dollars in both cash and forex card formats with a 20:80 distribution to simplify your payments and keep your wallet lighter. It’s advisable to purchase a forex card and currency while in India, ideally online through ExTravelMoney, to save money, time, and enjoy peace of mind.

Currency Cash

• Use cash for payments at counters that do not support card transactions. 
  
  
• Since the USA is a developed nation regarding cashless payments, you will only need to bring 20% of your overall trip budget in cash. 
  
  
• This amount can be utilised for emergencies, taxi fares, or tips.

Forex Card

• Deposit the remaining 80% onto a forex card in US Dollars. 
  
  
• These travel cards provide better exchange rates than buying currency. 
  
  
• After loading the funds in USD onto the forex card, the exchange rate is locked from future rate fluctuations. You can reload the card multiple times if needed and withdraw any leftover USD after your trip. 
  
  
• It can be used at POS terminals in the USA, and you can withdraw USD from ATMs without any fees, as payments are processed in the local currency. 
  
  
• Unlike debit and credit cards, multi-currency forex cards do not impose charges for currency conversion or international use. Only a small fee is applied for each ATM withdrawal. This can be managed by reducing the number of withdrawals and increasing the amount taken out.

Pro Tip: To prevent any last-minute rush, ensure you purchase the necessary forex products at least three days prior to your trip.

USD Note Denominations

The denominations circulated in the USA are $1, $2, $5, $10, $20, $50, and $100.

The frequently required currency denominations for daily purchases and transactions while in the USA are $1, $5, $10, $20, $50, and $100.

Here are the images of the latest series of notes in circulation:

What to Do With Excess US Dollars after a US Trip

After coming back to India from your journey to the USA, you can convert your US Dollars into Indian Rupees and cash out your forex card with help from a forex service provider such as ExTravelMoney.

How Much Currency Can You Bring In and Out of the USA?

The US government has not imposed any limit on foreign travellers to bring in and take out currency. However, travellers need to declare to the US Customs and Border Protection (CBP) if they are carrying cash and other monetary instruments (forex card not included) above USD 10,000. If you wish to carry more than this limit, you must declare it by submitting the FinCEN Form 105 and CBP Form 6059B online.

Meanwhile, the Indian government permits Indian travellers to carry foreign currency only up to an equivalent of USD 3,000 in cash. Upon entering India, Indians can bring in only USD 5,000 in cash. The remaining currency, up to the LRS limit of USD 250,000, can be loaded onto a Forex card.

Proper currency planning can help you save significantly on your US travel expenses. Purchasing Singapore currency in advance and using a forex card ensures convenience, safety, and cost efficiency. Book your US Dollars online with ExTravelMoney to get competitive rates from RBI-authorised forex stores and doorstep delivery anywhere in India.

Also Read: How to Calculate Your Budget for a Trip Abroad

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