Go Back  Fodor's Travel Talk Forums > Destinations > Asia
Reload this Page >

Exchanging Money in Mumbai during the currency changeover

Exchanging Money in Mumbai during the currency changeover

Old Nov 17th, 2016, 12:51 AM
  #1  
Original Poster
 
Join Date: Nov 2016
Posts: 2
Likes: 0
Received 0 Likes on 0 Posts
Exchanging Money in Mumbai during the currency changeover

I am in Mumbai and changing money is hard and Thomas Cook is gouging people. If you go to

the "State Bank of India", not the central bank of india or any other variation, you get the

best rates. Also when you buy your railway tickets you get a good rate. I exchanged at the

airport (wrong counter - they had 3, but only one said State Bank of India, it had the

longer line and I should have known.) Right now all you can get is the new 2,000 rupee notes

at any place (plus the odd money in 100 rupee notes.) There are no new 500 rupee notes and

all the 1000 rupee notes are being taken out of circulation on quota. DO NOT take 500 or

1000 rupee notes for change! Here are my experienced exchange rates for 100 Euros (the

Dollar is a little less)

Bad counter at airport 6,120

Thomas Crook 6,300

Hotel Desk 6,500

State B. of India 7,017 Cashed 200 Euros, probalby could have done more.

Railway Station 7,100 but you have to buy a ticket and only 100

The State B of India that I went to is on Horiman Circle.

I have heard that Goa and other smaller places is near impossible to change money - will

keep you updated. Going to Pune next week, Kolhapur, the Goa
jimmywalter is offline  
Old Nov 17th, 2016, 09:31 AM
  #2  
Original Poster
 
Join Date: Nov 2016
Posts: 2
Likes: 0
Received 0 Likes on 0 Posts
Additionally, go to the door at state bank and tell them you want foreign exchange, international, which is on the 1st floor (2nd floor to US people and not the mezzanine in between them) You should not have to stand in line.
jimmywalter is offline  
Old Nov 17th, 2016, 11:06 AM
  #3  
 
Join Date: Jul 2003
Posts: 10,559
Likes: 0
Received 0 Likes on 0 Posts
Thank you for the updates. Out relatives in India are having a very hard time now. My SIL who is about 72 yrs.old said its too hard to wait in the long lines. I get the idea which is to ferret out under the table money and tax it but it seems the way the govt. is going about it is poorly thought out. It looks like many will simply lose their money due tot he govts. incompetence.
jacketwatch is offline  
Old Nov 17th, 2016, 08:44 PM
  #4  
 
Join Date: Jan 2008
Posts: 2,482
Likes: 0
Received 0 Likes on 0 Posts
I have some Indian currency left over from my last visit.So is it truly useless paper money now.

Any idea if there is a provision for tourists with old money.
ileen is offline  
Old Nov 18th, 2016, 10:43 AM
  #5  
 
Join Date: May 2004
Posts: 4,571
Likes: 0
Received 0 Likes on 0 Posts
Anyone know wha the situation is r/t exchange rate, for using Bank ATMs to withdraw (specifically USD Bank ATM card, withdraw in INR)? The rate that way has usually been the best
CaliNurse is offline  
Old Nov 18th, 2016, 11:04 AM
  #6  
 
Join Date: May 2004
Posts: 4,571
Likes: 0
Received 0 Likes on 0 Posts
http://www.bloomberg.com/news/articl...ia-s-cash-woes

Well, this partly answers my question. ATM machines have to be converted to make room for different-sized notes! Free S'bux to the queues of people@Neve miss a marketing opportunity!!
CaliNurse is offline  
Old Nov 21st, 2016, 02:18 AM
  #7  
 
Join Date: Jul 2003
Posts: 10,559
Likes: 0
Received 0 Likes on 0 Posts
Actually my rels in India say that use of cc is not usual like here because if you have a cc issued by an Indian bank fraud charges are on you unlike here.
jacketwatch is offline  
Related Topics
Thread
Original Poster
Forum
Replies
Last Post
dhlemaistre
Europe
14
Aug 7th, 2016 06:15 AM
violetduck
United States
14
Aug 11th, 2015 10:07 AM
pougal
Europe
15
May 9th, 2014 07:38 AM
Dawn3333
Europe
25
Sep 21st, 2009 07:22 AM
Wendy
Europe
4
May 9th, 2002 04:21 AM

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are On


Thread Tools
Search this Thread

Contact Us - Manage Preferences - Archive - Advertising - Cookie Policy - Privacy Statement - Do Not Sell or Share My Personal Information -