US Dollar
Euro
British Pound
UAE Dirham
Australian Dollar
Canadian Dollar
Singapore Dollar
Japanese Yen
Thai Baht
Saudi Riyal
Swiss Franc
NZ Dollar
VND → INR· Vietnam
★★★★★
Matrix Forex offers reliable and transparent currency exchange with competitive rates. The process is smooth and customer support is responsive.
H
LIVE RATES
2.5 Lakh +
Happy Customers
₹4500Cr+
Forex Processed
40+
Currencies
8
Branches
4.9★
Google Rating
What Is Currency Exchange?
How Currency Exchange Works in India
Currency exchange is the process of converting one country's money into another. If you're travelling abroad, sending money overseas, or receiving funds from another country, you'll need to exchange currency at some point.
In India, foreign currency exchange is regulated by the Reserve Bank of India (RBI) under FEMA 1999. Only RBI-authorized dealers are permitted to offer forex services — which means the rate you get, and how safe your transaction is, depends entirely on who you choose.
Matrix Forex holds an RBI Category II Authorized Dealer license. This is a higher authorization tier than a standard money changer (FFMC), permitting us to handle forex cards, currency notes, and outward remittances — fully within the RBI regulatory framework.
Step by Step
How to Buy Foreign Currency in India
Our online currency exchange process is built for speed, transparency, and zero surprises. No more hunting for a money changer near you.
1
Choose Currency
Select from 40+ currencies at live interbank rates, zero markup, no surprises. USD, EUR, GBP, Thai Baht, Vietnamese Dong and more.
2
Lock Your Rate
See the live rate and book instantly. Complete KYC digitally in under 5 minutes. What you see is exactly what you always pay.
3
Get Delivered
Get forex delivered to your home same day across Bangalore, Mumbai, Delhi, Hyderabad, Chennai and more.
Currency Exchange Charges
What You Actually Pay
When you exchange foreign currency in India, the costs typically involved are:
1. Exchange Rate Markup
Most banks add a 2–3% markup on the mid-market rate. On ₹1 lakh, that's ₹2,000–₹3,000 in invisible charges. Matrix Forex charges zero markup.
2. GST on Service Charges
GST of 18% applies on the service charge component, not the full transaction value. The effective rate is tiered: 0.18% on the first ₹1 lakh, 0.09% on ₹1–10 lakh, and 0.018% above ₹10 lakh.
3. TCS (Tax Collected at Source)
TCS applies when total LRS spending crosses ₹10 lakh/year. For most purposes: 20%. Education via loan: 0%. Self-funded education above ₹10L: 5%. TCS is not a final tax — it is advance tax, credited against your income tax liability.
4.9/5 from 2.5 Lakh+ customers
Trusted by Global Indians
Real stories from travellers, students, and families.
★★★★★
Well structured and smooth process. They gave me the best price in the market. Definitely suggest Matrix for travel needs.
S
★★★★★
Very fast and efficient unlike other platforms who put you in a lot of hassle. Matrix is my preferred forex platform.
A
★★★★★
Excellent service. The staff was friendly and helpful. I got my card activated instantly.
P
★★★★★
Best currency exchange in town. Wanted INR to Malaysian Ringgit — delivered same day. Best service and pricing in Bangalore.
M
★★★★★
Got my USD delivered to Koramangala in 4 hours at better rates than the local forex shop. Won't go anywhere else.
A
Why Matrix Wins
Matrix Forex vs Traditional Dealers
See why thousands switch from banks, airports, and street changers to Matrix Forex every month.
| Feature | Banks / Airport Counters | Matrix Forex ✓ |
|---|---|---|
| Exchange Rate | ✗ 2–5% above mid-market | ✓ 0% markup, live interbank rate |
| Convenience | ✗ Visit physical shop | ✓ Order online, doorstep delivery |
| Transparency | ✗ Hidden fees, built-in spread | ✓ Rate you see = rate you pay |
| Speed | ✗ Shop hours, limited stock | ✓ Same-day delivery before 2 PM |
| Currency Range | ✗ 10–15 currencies | ✓ 40+ currencies |
| 100% Online KYC | ✗ | ✓ Done in 5 minutes |
| RBI Cat-II Authorised | ✗ Varies | ✓ NDL-ADII-0023-2023 |
Selling Foreign Currency
How to Sell Foreign Currency in India
When you return from an international trip, you'll often have leftover foreign currency. Selling at a good rate through an RBI-authorized dealer is the right move.
How much can you keep? RBI permits residents to retain up to USD 2,000 (or equivalent) in foreign currency notes indefinitely after returning to India.
When must you surrender? Any foreign currency above USD 2,000 must be surrendered to an RBI-authorized dealer within 180 days of returning to India.
Best sell rates: Airport counters and walk-in money changers typically offer poor sell rates — sometimes 8–10% worse than mid-market. Matrix Forex offers competitive sell rates at live interbank rates. KYC required: PAN card and Aadhaar.
Currency Exchange FAQs
Common Questions About Currency Exchange in India
What is the best way to exchange currency in India?
Through an RBI-authorised dealer offering live interbank rates with zero markup. Avoid airport counters and unregulated changers — they typically charge significantly more. Check the mid-market rate on Google before transacting.
What documents are needed to exchange currency in India?
PAN card and Aadhaar are sufficient for most KYC. For larger amounts or specific LRS purposes, passport and travel documents may also be required. Matrix Forex accepts online KYC — no branch visit needed.
How much foreign currency cash can I carry when travelling abroad?
RBI permits up to USD 3,000 (or equivalent) in foreign currency cash per trip. Amounts above this within your LRS limit of USD 2,50,000 must be carried via forex card or wire transfer.
What is the difference between a forex card and foreign currency cash?
A forex card is prepaid and safer than cash, accepted at most merchants and ATMs worldwide. Currency notes are useful where card acceptance is limited. Most travellers use both.
What are currency exchange charges in India?
Three components: (1) exchange rate markup — typically 2–3% at banks, zero at Matrix; (2) GST on the service charge at a tiered rate; and (3) TCS if your total LRS transactions exceed ₹10 lakh in the financial year. All shown upfront.
Can I buy foreign currency online in India?
Yes. Matrix Forex offers a fully online process — select your currency, complete KYC digitally, pay online, and get same-day home delivery. No branch visit required.
How do I sell foreign currency in India?
Sell leftover currency online or at any of our 8 branches. Bring PAN and Aadhaar for KYC. You'll receive INR at live interbank sell rates — no hidden deductions.
Is it safe to exchange currency online in India?
Yes, when transacting through an RBI-authorised dealer. Matrix Forex transactions are processed under RBI's regulatory framework with bank-grade encryption.
What is the LRS limit for buying foreign currency in India?
Indian resident individuals can remit or spend up to USD 2,50,000 per financial year for permitted purposes including travel, education, medical treatment and overseas investment.
Buy Foreign Currency at Zero Markup — Delivered to Your Door
Same-day delivery. 40+ currencies. RBI-Authorised. Order in minutes.