Indian rupee to US dollar
Paying US tuition, buying US stocks, planning a trip or pricing a subscription billed in dollars? Convert rupees to dollars here.
Sending rupees abroad
Resident individuals can send up to US$250,000 a financial year abroad under the RBI’s Liberalised Remittance Scheme, through an authorised bank or money changer. You will need your PAN and the purpose of the payment. Tax collected at source may apply on larger remittances depending on the purpose; it can be claimed back against your income tax.
Questions
How do I pay for a US subscription in rupees?
Your card converts the dollar charge at the network rate plus a foreign currency markup, often 1% to 3.5%, plus GST on the markup. Cards with zero or low markup save money if you pay in dollars often.
Can I invest in US shares from India?
Yes, through brokers that route money under the Liberalised Remittance Scheme. Watch the conversion margin, the transfer fee and US estate tax rules before investing large amounts.
Is this the rate I will get?
No, it is the mid-market rate. Banks sell dollars to you at a higher rupee price than this.