Money
Currency: Rupee (Rs) = 100 paise. Notes are in denominations of Rs1000, 500, 100, 50, 20, 10, and 5. Coins are in denominations of Rs5, 2 and 1, and 50, 25, and 10 paise.
Note: 1 and 2 Rupee notes and 5 paise coins may still be in circulation but are no longer being produced.
Currency exchange: Currency can be changed at banks, airports or authorised money changers. It is illegal to exchange money through unauthorised money changers. US Dollars and Pounds Sterling are the easiest currencies to exchange.
Credit & debit cards: MasterCard, American Express, Diners Club and Visa are accepted. Check with your credit or debit card company for details of merchant acceptability and other services which may be available.
Travellers cheques: These are widely accepted and may be changed at banks. To avoid additional exchange rate charges, travellers are advised to take travellers cheques in US Dollars or Pounds Sterling.
Currency restrictions: Import of local currency is prohibited. Export of local currency is also prohibited, except for passengers proceeding to Nepal (excluding notes of denominations of Rs100 or higher), Bangladesh, Pakistan or Sri Lanka (up to Rs20 per person). Foreign currency may be exported up to the amount imported and declared. All foreign currency must be declared on arrival if value is over US$5000, and when exchanged the currency declaration form should be endorsed, or a certificate issued. The form and certificates must be produced on departure to enable reconversion into foreign currency. Changing money with unauthorised money changers is not, therefore, advisable.
Exchange rate indicators
The following figures are included as a guide to the movements of the Rupee against Sterling and the US Dollar:
| Date | May ’02 | Aug ’02 | Nov ’02 | Feb ’03 | | £1.00= | 71.36 | 73.76 | 76.18 | 75.95 | | $1.00= | 48.97 | 48.50 | 48.17 | 47.70 |
Banking hours: Mon-Fri 1000-1400, Sat 1000-1200.
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