Do you wish to travel abroad without spending time at the airport, fighting over money with the locals, and missing out on all the fun? Currency exchange is necessary if you plan to explore a new country. Nothing is impossible without the local currency, whether you are on a holiday or a business trip. The best way to convert GBP to INR is to head to a reliable money transfer service before the travel date.
Currency exchange is the first thing to consider when you plan to travel. Before moving abroad, you should know the foreign exchange rates of major currencies. The following are things to check:
Reviewing exchange rates
Travelling to a new country no longer involves running from one place to another to confirm the currency exchange value. Many websites allow users to track the latest currency value in real-time. These sources will enable you to find the best exchange rate for Pound to Rupee on any day.
Shop around and compare
As you know, the currency rates fluctuate every second, affecting the charges. It is ideal to do some research and compare prices. You can buy and exchange the currency when the prices dip. Money transfer services also allow you to set up rate alerts to get the best value for your currency while converting SG Dollar to Rupees.
Use the 20-80 rule
It is safer to carry 20% of your currency in cash and the remaining in a Forex card. The cash in hand fulfils any urgent expenses, including cab fare, trolley money, tips, or lunch. A Forex Card also prevents overspending, and you can recharge it whenever required. Using the card than carrying cash for different currencies is better while converting, for instance, USD to INR as it saves time.
Carry a Forex Card
You pay a high transaction fee when you pay with your Credit or Debit Card in a foreign country. The bank then may also block your card. To avoid this, use a Forex Card and inform your bank about your trip while booking tickets beforehand. The card is a convenient way of spending money in different currencies without visiting the bank to convert the Pound to INR.
Take advantage of RBI-approved banks and service providers when exchanging currency in India. Ideally, convert your currency where you pay a small transaction fee but receive a valuable return. The Reserve Bank of India has many banks and service providers offering currency exchange like Euro in Indian Rupees for travellers visiting India.
Before travelling abroad, ensure everything is in place. Besides, keep all necessary aspects in mind throughout the exchange process. To stay on schedule, you should perform some tasks in advance.