When it comes to the question of sending money from India to the US, and vice versa, the laws are redundant and there is an urgent need for an overhaul of the system. The reason for it is that the RBI has to have an eye on inflation and a host of other factors that affect the economy of the country.
Currency fluctuations also has a damp eye in the mindset of the people as it is vibrant. But we operates on live USD rates where all currency fluctuations are taken care off.
To be precise, USD stands for United States Dollar and is the official currency of the United States of America and some other territories as well. The minor unit of USD is cent (1 US Dollar = 100 cents).
Owing to its significance and extensive usage in foreign exchange market, it is important for us to have an idea about the approximate value of USD in terms of INR. Currently, 1 USD quite roughly equals 67 INR.
Being the world’s most dominant reserve currency, USD is the most widely and accepted currency across the globe. In the foreign exchange market, it is extensively used for trading and there lies its worldwide significance.
USD is officially used not only by the United States of America but also by some other countries. Zimbabwe, Panama, Ecuador, El Salvador and Palau are some of the countries using USD as their official currency. This fact also speaks of the importance of this currency.
India’s relation with USA has been very cordial for a long time. The recent visit by the Prime minister of India to US has further strengthened the bonds in terms of bilateral trade. Thousands of Indian students look up to the country for their higher education hopes as well.
If you view the rate chart for your city of Chhatarpur you will get to see a number of values for USD exchange. These varied values are for different products. At the same time, values also differ for buying and selling a particular product.
On Fxkart we give you a chance to view all the rates from your nearby dealers in Chhatarpur and choose your best deal for converting from INR to USD. You are offered the best USD exchange rates and have a freedom to choose your option according to your price and proximity of the store.
The best approach would be wire transfer with Fxkart’s Indian rupees to US Dollar Exchange in Chattarpur. These are done by banks and it would be much better than to approach a local exchange that depends on the preferential rate given to them by the banks.
But on the negative side, the wire transfers can be expensive as the banks charge anything between Rs 500 to Rs 1000 per transaction. The foreign banks that receive the amount also go on to charge a foreign correspondent fee as well.
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