Where to exchange money in Mumbai

Currency exchanges in Mumbai

Consider using digital alternatives like Wise when looking at currency exchanges. If you still need to have some physical cash, here are a list of currency exchanges you can find in Mumbai.

A reminder from us - There's no such thing as 0% commission or fee-free so remember to do your research and make an informed decision.

What you should know about exchanging money in Mumbai

You can follow a few simple tips which could help save money when exchanging currency in Mumbai. By increasing your awareness you can be better prepared for currency exchanges wherever you are.

1. Beware of 'zero fee' services
Some services will claim 'no commission'. This can be misleading as they will often have hidden a markup by offering you a worse exchange rate.

2. Know the current exchange rate
Be familiar with the current exchange rate to help identify a bad deal from exchange services.

3. Avoid exchanging money at airports or hotels
The convenience of exchanging currency at airports and hotels often comes at a price. That price will come as poor exchange rates and high transaction fees. Try to use this as a last resort.

4. Avoid scams
Be cautious of street vendors or unofficial exchange services that may offer seemingly attractive rates. Stick to recognised establishments to avoid falling victim to scams or fraudulent practices. Your financial security should always be a top priority.

5. Opt for local currency
When using an ATM abroad, pick the option to be charged in Indian rupee for a fairer rate to avoid undisclosed exchange rates. Picking the local currency will almost always be cheaper.

Bottom line

As you can see, there’s no shortage of options when it comes to exchanging money in Mumbai. Don't forget to do your research on the exchange rate before converting your money, and check Wise out if you want a fuss-free alternative to exchanging cash.