Sell Foreign Currency
Many a times, we come back from our foreign travel and are left with foreign currency which is yet to be exchanged for local currency. One need not be worried or tensed about this Foreign Currency. The selling of these currencies is as simple as buying the currency.
In order to ensure a smooth and transparent process, we check the real-time foreign exchange rate for that particular currency. If the rate is agreed upon by the seller, we proceed with the transaction.
If there is a cross currency, like Euro which has to be converted to Rupee, we need to check two pairs of currencies EUR/USD and USD/INR to convert the EUR to INR. Both the currency quotes are multiplied to arrive at the Euro to Rupee conversion. For eg, you have 1000 Euros at your end and EUR/USD is trading at 1.1650 while USD/INR is quoted at 68.60, then you would get INR 79,919 for those 1000 Euros, i.e. 1000*1.1650*68.60 = INR 79,919
The currency could be in the form of physical currency or in the Forex Card or online in your bank account. Any mode of currency is acceptable and that is done at the prevailing real-time rates to ensure transparency of the transaction. The local currency is given at your preferred mode – cash or transfer to your bank account.
Often necessary documents are needed to Sell Foreign Currency like government issued identity cards. Depending on volume a declaration may be needed for higher amounts. Please contact our branch for more details.