How to get forex in cash?

Here’s a quick guide on the best way to exchange your currency

business Updated: Jun 04, 2019 12:48 IST

Money exchange agencies might be expensive or cheap, depending on how you can haggle with them.(Bloomberg File Photo/Representative image )

Planning a foreign trip? Here’s a quick guide on how you could exchange your currency:

Airports:

This may be one of the most expensive places to exchange currency. “The exchange fee can range anywhere between 10% and 12%,” said Sudarshan Motwani, founder, Bookmyforex.com. Avoid buying forex from airport.

Banks:

When it comes to expense, banks are second in line as the exchange fee ranges between 2-3%, he added.

Money exchange agencies:

Agencies might be expensive or cheap, depending on how you can haggle with them, he added. Since it is unorganized, you make have to negotiate.

Online:

Online portals are transparent. You can pay them by cash or card and get it delivered to your doorstep. For document verification, relevant ones can be uploaded online. “They might levy delivery charges which will be in the range of Rs 150 to 500,” he added.

First Published: Jun 04, 2019 12:48 IST