Currency Converter

Convert Foreign Currencies to INR in Seconds

Whether you want to travel abroad for work or leisure, you will need some foreign currency of the country you are travelling to. But currency rates change every day based on movements in the forex markets. So, how can you find out the difference in values between INR and another currency, or for that matter, any two currencies? You can, with the help of a currency exchange calculator.

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Currency Converter – Uses

Currency Convertor tools are primarily used by traders in the forex market, who buy and sell forex currencies, only with the end goal of booking profits from the rising and falling currency rates.

International tourists also use currency tools to find the difference in value between two currencies. They typically buy the necessary forex of the country they are travelling to, when the currency rates are low, to get the highest value out of their purchase.

Business travellers and overseas business owners use currency converters frequently, as do students travelling abroad for higher education.

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Online Currency Exchange Calculators

Generally, a currency converter online shows you the exact rate of a currency. However, if you need to buy a foreign currency, the rate differs from the actual exchange rate. You have to pay an additional currency conversion charge, which varies from seller to seller. A forex broker may levy a different charge than a currency trader or a seller at an airport.

Currency converters or Currency Exchange Calculators use real-time prices, but forex sellers charge a slightly higher rate by levying a nominal commission to make a profit.

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Fees and Charges for International Funds Transfers

Banks and currency providers have their own fee structures, which may differ from one bank to another. When you send money internationally, your bank will charge a fixed transfer fee, usually mentioned on the website of the bank. Banks may also charge different rates based on the currency you wish to exchange.

DBS Bank provides international remittance services at preferential rates! Download the app to know more.

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