Top six Tips for using leftover Foreign Currency

Now that you’re back home from your international trip, there’s a good chance that you have some leftover foreign currency. You might want to hold onto it as a souvenir, but there are some other choices that could be more useful and better for your wallet. To help you, we have complied the top six tips for using your leftover currency!

Get it Exchanged

Different currency notes — Exchange it for your local currency
Photo by John McArthur on Unsplash

The best thing to do is to exchange it for your local currency. Just remember that most places only accept cash in the form of banknotes. Also, be aware that exchanging money at airports usually gives you the worst rates. The Akbar forex online service can help you find the best current exchange rates.

Another option to sell foreign currency legally is by selling it to a friend who’s traveling to the same place. If you can’t find someone right away, you can try posting a message online or on a bulletin board at work or another place where you can meet people.

Keep it for your next trip

Books and glares on the beach — Save it for your next holiday
Photo by Link Hoang on Unsplash

If you often visit the same country for work or vacation, you can save the money you’ll need for your next international trip. You can either leave it on your Forex card or keep it as cash. Just remember, you can only keep a certain amount set by the RBI. If you have more than that, you’ll have to exchange the excess money.

Enjoy shopping at duty-free stores

Duty-free store at the airport — Shopping at the duty-free stores
Photo by Kiwihug on Unsplash

If you still have leftover foreign currency, think about shopping at a duty-free store. It’s a good idea if you want to buy something you usually use or get a souvenir from your trip. But be careful because some countries might not accept foreign money at duty-free shops due to inflation concerns. So, make sure your leftover foreign currency is accepted before you shop there.

Use it to help pay your last bill

A girl checking her bill — You could help pay for your bill
Photo by Chanhee Lee on Unsplash

Even though the money you have left might not cover all your expenses, it could help pay for part of them. When you’re paying your hotel bill, ask if you can use your leftover foreign currency first and then pay the rest with your credit card.

Offer them as gifts

A lot of gifts — Give it as a gift
Photo by freestocks on Unsplash

Holding onto the leftover foreign currency you brought back from your trip can work as a cool souvenir. Some people like to keep the coins as a memento, especially if they won’t be going back to that country. Another idea is to give some of the foreign money as gifts to your family and friends. It’s a special and thoughtful present that could be one of the best options for your loved ones.

Why is Akbar Forex considered as the preferred forex provider in India?

With 45+ years of service, Akbar Forex is highly regarded for its competitive rates, wide range of reliable services, online convenience, delivery facility and excellent customer service. We also assist in providing cheap international flight tickets online and help you to apply visa online for 150+ countries.

Frequently Asked Questions

A blue question mark — FAQ’s on Leftover Forex
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Where can I exchange foreign coins for cash in India?

You can exchange foreign money in India at banks, approved NBFCs, and even at airports. You can even check with your travel agent for exchanging forex at best rates.

Can we keep foreign leftover money in India?

According to the Reserve Bank of India, you can keep foreign money up to US$ 2,000 as foreign currency notes or travellers’ cheques (TCs) for as long as you need.

Is there a deadline for travellers to return foreign money after coming back to India?

Yes, when travellers return from a trip abroad, they must exchange any unused foreign currency notes and travelers’ cheques within 180 days of returning.

How can I exchange leftover foreign money?

Your nearby bank or travel agent can usually exchange currency for a small charge. They might also allow you to deposit foreign money into your bank account. Usually, this fee is between 1% and 3% of the total amount you’re exchanging.

What does foreign currency exchange in India do?

The main goal of the foreign exchange market is to simplify converting one currency into another or transferring buying power between countries. Various credit instruments like telegraphic transfers, bank drafts, and foreign bills are used to move purchasing power.

Conclusion

If you’re an Indian family or student living abroad, handling your everyday expenses can be tough. It’s a good idea to get a dependable global card that helps you save money and gives you extra perks. If you want practical solutions for your money issues while living abroad, Akbar Forex can make international transactions easy for you.

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Top Six Tips for using leftover Foreign Currency

Get it Exchanged

Keep it for your next trip

Enjoy shopping at duty-free stores

Use it to help pay your last bill

Offer them as gifts

Why is Akbar Forex considered as the preferred forex provider in India?

Frequently Asked Questions

Conclusion

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