Changing monies
 

Hi guys...those of you that are already in Goa, is the exchange rate any good at the moment.
We are travelling at the beginning of Dec from Heathrow to Mumbai and wa wondering if it is better to change in Mumbai or wait till we get to Goa?

Re: Changing monies
 

I have used this site for several years and found it to be very accurate

http://www.x-rates.com/d/INR/GBP/graph30.html

One winter we compared our Nationwide statement with it and it was virtually spot on!

Re: Changing monies
 

Thanks for that, not used that site before, so thanks again.

Re: Changing monies
 

www.xe.com is a good international currency site which shows the daily changing inter bank rate.

This does not mean you will get this rate from an Approved Dealer (bank or money changer) in India, it will be a rupee or so less changing GBP into INR. Shop around for best rate if in Goa.

I have noticed ICICI UK to ICICI India money2 India internet transfers less of a good deal than they used to be. The service is free, but they are definitely compensating themselves (and taking a hidden commission) by exchanging at less than the official rate. This may be because it takes about 2 days to initiate the transfer, but I have noticed this even on a strengthening pound.

Re: Changing monies
 

i use xe.com as well and find it accurate and dependable - my bank usually gives me an exchange rate which is (almost exactly) a rupee less than the xe.com rate for the canadian dollar on any given day

Re: Changing monies
 

I agree - not only does money2india consistently give a worse rate than xe.com but ickyicky bank have killed all their online money transfer options for account holders forcing us to use money2india.
Nationwide otoh give rates very close or better than xe.com - so even with the re-introduction of a 1% charge you do better to just use your Nationwide Debit card here in Goa (when the ATM's are working!!!)

AndyD 8-)#

Re: Changing monies
 

ickyicky bank - thats a good one andy!:D
i have an acount with them here (ickyicky bank canada) and have noticed that their money transfer options are not attractive anymore - so will look at money2india the next time i have to send money. i usually wait for the xchange rate to be favorable (as it is now @ 44 rupees to the CA$) and send as much as i can to my indian (ickyicky) bank - that way i am able to maintain sufficient funds that are needed for visits to india.