You can travel in these countries with the Indian rupee, but there are limits

Advertisement
Eetika KapoorOct 17, 2022, 17:46 IST
You can travel in these countries with the Indian rupee, but there are limits
  • The Nepalese Rupee is officially pegged to the Indian rupee like in Bhutan.
  • Other countries include Bangladesh, Maldives, Zimbabwe.
  • Indians paid ₹263 billion as foreign exchange fees – including currency conversions.
Indians paid a whopping ₹263 billion as foreign exchange fees – including currency conversions – in 2020, according to a study by global technology company Wise.

However, there are some countries where the Indian rupee is accepted, thereby, eliminating the need to carry Forex and pay for conversion. It is to be noted that the Indian rupee is legal tender or widely accepted in some neighbouring countries such as Bhutan and Nepal.

Here is a list of countries where you could use the Indian rupee.
Advertisement

Bhutan

Bhutan
Wikipedia

Bhutan allows travellers to use Indian rupees except for the ₹2000 currency notes. The RBI allows travellers to carry currency notes for any amount in denominations up to ₹100, while there is a cap of ₹25,000 for ₹200 and ₹500 denominations.

Nepal

Nepal
Wikipedia

The Nepalese Rupee is officially pegged to the Indian rupee. Like Bhutan, the RBI allows travellers to carry currency notes for any amount in denominations up to ₹100, while there is a cap of ₹25,000 for ₹200 and ₹500 denominations.

Advertisement

Bangladesh

Bangladesh
Wikipedia

Bangladesh’s trade deficit with India crossed $10 billion in FY22 due to a big jump in imports from India. Rupee has not been declared a legal tender yet here. 1 Bangladeshi Taka is equal to ₹0.81, which is widely accepted in the country amid Bangladesh’s rising imports and falling reserves.

Maldives

Maldives
Wikipedia

One Maldivian Rufiyaa is equal to ₹5.33 Indian rupees but a traveller can exchange their Indian rupees upon arrival. However, in Maldives the Indian rupee does not have transactional value and it is important to carry a convertible currency like the US dollar.

Advertisement

Zimbabwe

Zimbabwe
Wikipedia

India was ranked among Zimbabwe’s top five export partners with trade worth $162 million in 2020. It added Indian rupee to the basket of eight currencies it uses, after discontinuing its local currency in 2009 due to hyperinflation.

Next Story DOMS to raise ₹1,200 cr via IPO: Journey, invest...
Advertisement
Popular on BI
Latest Stories
View All Latest
Trending News
Buying Guides
Advertisement
Popular Categories
Trending Right Now

Copyright © 2023. Times Internet Limited. All rights reserved.For reprint rights. Times Syndication Service.